Unexpected and sometimes bad things happen to every business. For example, negative comments leading to a bad online reputation. Or, sometimes your business changes with time and your brand doesn’t properly represent the “new you”.
The good news is you don’t have to necessarily start over by getting a new name, logo, website design, marketing materials, and so on. Those costs could eventually add up to be quite significant. The truth is you have a very real chance of changing your brand’s perception without a huge expense.
Here are a couple red flags that it’s time to refresh your brand identity:
Your Branding is Outdated – Like LG, you want your brand name to reflect the current state of your business. Luck and Goldstar sounds like a casino or cigarette brand, but LG gives an impression of quality electronic devices (not to mention it’s much easier to remember). If it’s been several years since you’ve evaluated your brand name and image, it’s time to give it a look and see if updating could help.
You’re Prepping to Grow – If you’re deliberately planning significant growth, then consider freshening up your brand. Check out your colors and the products and services you offer and determine whether your brand identity logically represents them. If your current brand name can’t be easily changed, you can always add a more descriptive tagline to your logo to help your customers better understand your updated service offering.
Your Target Market has Shifted – If you initially started serving 35-year-old men 10 years ago, and now they’re in their mid-40s, they probably won’t respond as well to the same messaging. Consider your current market as well as new prospects and give your brand’s messaging a refresh to attract more interest.
Brand Refresh Action Items
Of course we’re not going to leave you without any advice you can use to begin refreshing your brand. Here are some ideas of what you could do if you’ve decided a brand refresh is appropriate:
Research Your Market First
What does your market really want to hear and see?
Do simple things like sending out a survey to your e-mail newsletter list, offering brief phone surveys, or engaging in dialogue with clients you see in person. You may not have a massive research budget, but if you make time you can learn a lot about your market and fine-tune your message and identity through these simple methods.
Consider Implementing a New Marketing Tactic
Your business may or may not benefit from gamification, but a new marketing tactic could attract significant attention. Gamification is when you make participating in your business similar to a video game (customers get points for buying certain products, for example).
You don’t have to gamify if you don’t think it’s appropriate, but don’t be afraid to try something new and innovative to change the perception of the identity of your brand.