5 reasons why your brand might need a make-over
The year is 2005, Cheryl Cole has just split from Ashley, it’s a knee-high mud bath at Glastonbury and Jamie Oliver is launching his war against Turkey Twizzlers. You’re sporting a lovely new Juicy velour tracksuit and enjoying the Backstreet Boys’ comeback (maybe).
Fast forward 15 years and hopefully you’ve had a bit of an image change since then (if not, we won’t judge) but what about your branding? It doesn’t seem that long ago since it was born, maybe you’re still fond of your logo, after all, it has served you well, but your brand is more than that. It’s an ever-evolving being, with a heritage and a future, which, just like trying to stop kids eating junk food, needs a significant amount of emotional investment.
If you’re wondering whether this applies to you, take a look at these 5 reasons why it’s probably a good idea to take a long hard look at your brand…
1. You're being left behind by your competitors.
One of the main purposes of branding is to highlight its distinctions, the things that make your business stand out from the crowd.
Your brand is more than just a logo – knowing your core values, your brand vision & mission, and your brand positioning gives your company a personality, helping to develop a shared internal ethos and a trusting relationship with the people you are trying to connect with.
91% of consumers would rather buy from an authentic brand
— Source: AdWeek
2. Have your customers’ needs changed significantly?
In today's consumer society, we are hit with advertising from the minute we pick up our phones in the morning, on our commute to work, right up until the moment we switch off the TV at night. We've more choice now than we've ever had before, meaning your customers have a lot more options, over a lot more devices and platforms.
Presenting a brand consistently across all platforms can increase revenue by up to 23% (Source: Forbes) so when, where and how you’re talking to your audience is more important than ever.
3. Have you recently developed new products and/or services or entering a new market?
What was a great brand 15 years ago could no longer represent what you stand for now.
It's unlikely that the objectives you had when your company was founded are the same goals that you have now. The market, technology, customers' needs are ever-changing and when your business has to change to take these into account, so should your brand.
4. Do you find it difficult to express your brand difference.
Our clients, Fact3, knew that they were one of the leading Co-Sourcing providers in the UK but their existing branding was dated and confusing. They were in a unique position as pioneers of the co-sourcing revolution, but they were struggling to get their message out there.
After undertaking one of our branding workshops, they were provided with the insights to tackle the issues they were experiencing. The results made it possible for us to sit down and build their new brand tactically, resulting in a powerful brand that knows exactly who they are and now everyone knows exactly what they do.
5. Or maybe you’re finding it increasingly difficult to attract and retain top talent?
Did you know that having a great brand can bring expenses related to hiring and training down by as much as 50%? (source: Lyfemarketing). The best employees want to work for the best brands and your reputation matters. People want to work for companies that have the same values as them, whose brand they can relate to.
Unfortunately, not everything improves with age, so if your brand is becoming more of a mouldy cheese than a 2014 cabernet sauvignon, it might well be time for review.
If you need help with the next steps, get in touch.
