Even the biggest and best companies will go through a brand refresh at some point. If your brand is out of date, it could cost you customers and weaken the overall appeal of your business and products. Fortunately, you can work with brand strategy experts to refresh your brand and improve your position in the market.
Before going any further, we need to clarify the difference between a brand refresh and rebranding. When you refresh your brand, you’re making small adjustments and tweaks. When you decide to rebrand, you’re overhauling major portions of your brand and potentially may rebuild everything from the ground up. With that said, let’s take a look at some signs that it’s time to refresh your brand.
Your Target Audience Has Changed
A brand must appeal to specific audiences. Sometimes, businesses find that their audience has actually changed. Let’s say you run a video game retail store. When you started your business twenty years ago, your audience may have primarily been kids. Now those kids have grown up, and they’re still the main audience for your business.
In this case, you may want to update your brand to appeal more directly to adults. Among other things, aligning your brand with your customers is crucial for building trust. This is essential because, according to Exploding Topics, over 80% of consumers need to trust a brand to consider using its services.
Your Business Has Changed
If a business has changed, you may have to update the brand to reflect that. For example, let’s say a restaurant owner started out with a neighborhood pub. Over time, he or she became more serious about cooking and the menu evolved into an upscale fine eatery. Now, the local community doesn’t think of the restaurant as a local pub but instead as a fine dining experience. In that case, it’d be wise to work with brand strategy experts to update the brand assets.
Your Brand Looks Outdated
Sometimes, you’ll simply know that your brand is in need of a refresh. You may have trouble putting it into words, but when you see your signs or logos next to other companies, it’ll simply look outdated and shabby. In these cases, it’s time to bring in brand strategy experts to rehab your brand and get it up to speed. If you fail to do so, you may find yourself slowly losing ground in the market.
Looking for brand strategy and marketing experts? Want to craft a brand that truly stands out? Get in touch with McGuinness Media & Marketing and we can get the process started.