Let’s face it: the world we live in is constantly changing and evolving, which means that the current marketing landscape has to evolve, too, or risk falling behind. With this in mind, it’s more imperative than ever before to keep your brand fresh and exciting.
All brands need a refresh at some point. Whether your competition is growing or changing, a new trend has proven itself impossible to ignore, or you’ve noticed a loss in market shares, your brand must continually prove its agility and react to the changing tides.
Simply put: your brand cannot remain invariable.
Even the most well-known brands know the importance of embracing change; in a world driven by social media and immediate gratification, the need to stay fresh and able to deliver the next best thing makes the difference in drawing a crowd or draining the coffers. A brand refresh isn’t relegated to a downward turn in sales or market shares, though. Any business seeking success and longevity should regularly examine and reexamine their brand’s course to find what works, adjust what’s necessary, and help them grow with their customers.
If brand revitalization is the last thing on your mind, we understand; running a business is not easy, to say the least. However, here are six reasons why you should consider a brand refresh.
To Ensure Alignment with Your Core Business Goals
The most important reason to take another look at your brand, especially during times of growth, is because your business has likely grown and innovated. Maybe you added new products, your market grew or shifted, or you changed your marketing strategy to suit a different demographic. When these things happen, no matter how subtle they seem, it’s possible that your former branding no longer reflects what your business is currently offering.
Engaging in a brand refresh not only gives customers a better understanding of what your brand offers or stands for but assists your internal team by cultivating a sense of clarity and refocus. Rebranding allows your message and values to become clearer, increasing accuracy in marketing and creating a solid foundation for future expansion.
To Reconnect with Current Customers – and Build Connections with New Ones
As your brand evolves, gaps can grow between your vision of what your brand stands for and what it actually represents to your customers. When this distance widens, customers may gloss over exciting new products or services your brand is now offering.
A brand refresh strengthens your message and can help increase brand recognition, trust, and customer loyalty as your business continues to evolve in an everchanging market landscape.
To Stay Relevant
Household brands may have more recognition in the market as a whole, but improving the relevancy of your brand in a fast-changing consumer environment is not only impactful but imperative. Outdated, stiff, and clumsy brands and marketing tactics are noticeable…but not in a good way. An intentional, authentic refresh is critical to maintaining brand health and growing trust between the business and its customer base.
In the modern economy, trust is priceless. Consumers carefully contemplate how they spend their money, and brands must prove themselves worthy and understanding of their customers’ wants – including a desire for connection. No longer is merely providing a product or service enough to achieve long-term success. When a brand proves itself irrelevant, customers may begin to believe that the brand no longer cares to understand them and will choose to shop with a business that does.
To Stand Out: Keep Your Brand Fresh
Even if you’re a well-known, established brand, your business is not protected from competition and ever-changing customer taste. You may have been the only luxury brand when your doors opened for the first time, but the market has changed since then. If you’re not prepared to pivot, your sales and customer retention could drop considerably.
What makes your brand unique and special? This simple question can provide valuable information and inspiration when considering how to differentiate yourself from your competitors. Consequently, a brand refresh driven by this insight can help you continue to stand out and maintain your position as a market leader.
5. To Create a Buzz
“Rebranding” often generates negative feelings, but in reality, a brand refresh can be an effective tool to create a new wave of passion for the brand, both within and outside of your business. Longtime customers get excited about a rebranding effort, looking forward to the new and exciting products expected from you, while new customers are often drawn to a hum of excitement and productivity.
Similarly, rebranding can create an atmosphere of enthusiasm and ingenuity within your team by igniting staff passion, loyalty, and involvement in the business and brand.
To Drive More Sales
We know now that a brand refresh can generate customer and employee enthusiasm, update old, stale messaging, and maintain market position, but rebranding can also lead to increased sales in many ways, due in part to the buzz surrounding your rebranding efforts. Armed with a fresh brand, focused employees, and both faithful and first-time customers, your business now has the chance to charge a premium for your products and services. Not only will customers now perceive your brand’s offering as more valuable than others in the market place, but their renewed loyalty towards your business can also produce a hefty increase in long-term sales.