Should I Update Or Refresh My Brand #44

Watch this week’s episode of Quick Wins With COM where Richard discusses how to know when you should rebrand your business.

The way a business markets itself through branding is one of the most important connections it can have with its consumer base. Brand identity and brand loyalty are central to a business’ success in the internet age.

This week Richard discusses the three main factors business owners should use to determine if now is the right time for a brand refresh.

    1. Outdated Brand Identity
      If an established business’s products or services no longer match up with its branding it is definitely time for a revamp. If your branding doesn’t match up with your products you might be missing out on customers simply because they haven’t associated your business with a certain product.

 

    1. Expanding Into New Markets
      A business that originally gained success within a niche market and is looking to expand its customer base is a perfect candidate for rebranding. Just be careful not to change too dramatically or you could lose support from your original consumer niche.

 

    1. Change Alongside a Changing World
      There are thousands of famous quotes about change being the only constant in the world, and for good reason. It’s important for business to develop alongside shifting markets and audiences. Even the simplest update, like changing the font of a logo, can make the biggest difference. Keeping up with trends might seem like a daunting task but it will insure that your company becomes the next big thing, instead of being left by the way side.

 

That’s 3 key factors for deciding when to rebrand your business. Remember that a minor change can really have an impact on the growth and success of your business.

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Video Transcription

Welcome. It’s Richard Toutounji, from COM Marketing. Today I’m answering a really important question that we get asked a lot, and we talk about a lot here at COM. It’s should I update or refresh my brand? It means your brand, your company logo, your imagery, all those information, all that IP that you have there. The reason why you do this is three main factors. Let me take through one of them. The first one is outdated. With this outdated one, it could be a number of different reasons. It means that you may have been in business for 10, five, 20 years. What you were selling and what you’re currently selling, the services or products are very different, you’re not actually the same.

Initially when you set your brand up and your identity up, it was selling something else, it was marketing something else. But it’s just outdated now. It needs to make sure that … It’s incongruent what you’re selling and what you’re offering now. When we look at online marketing, the first funnel in the awareness stage is brand. Because if you’re going to run a Facebook ad, an Instagram ad, one of the first things they’re going to see is where the ad is coming from. They’re going to make sure that what you’re trying to sell or market makes sense with the actual brand, with the actual logo, with the actual colouring. This is where sometimes you’ll need to refresh or you might just need to start over. It really depends on how outdated you are compared to the products and the services, and then the avatar and the marketplace you’re going to go to.

Number two is a new market. Talking about marketplaces, this is a great in. It’s a new market. Now, this is a great one if you’ve been in business for a while, and you found success in a really niche marketplace. This may be a chance for you to refresh or redo your branding, to ensure that the brand now matches your marketplace that you want to try to maximise your services, sell your services and products in. If that doesn’t match, sometimes it doesn’t actually convert on to a sale at the end. A lot of the time when we deal with clients that come into our programmes, if they’re going into a new market, a different market, we need to make sure that their brand imagery is connecting with the audience they want to go to. This is when we may do a little slight adjustments or refreshing their brand, make it a bit more sleeker, a bit more newer, or totally transform a result.

The last one is change. Now, we’re living in a world at the moment where there is so much change going on, there’s so much innovation going on. It’s really important that you’re keeping up with the change, you’re keeping up with the trends. It’s almost like the audience that you’re trying to go to, they’re always got new things that are going on, they’ve always got new services that are going on. But if you’re a solid business and a solid brand, and you haven’t refreshed your brand for a number of years, it may be time to go, “You know what, we are innovating with the times. We are changing. We have brought a whole heap of products, and solutions, and services out to the marketplace. Maybe it’s time that we refresh or we rebrand to then tell our audience that, “Hey. We are keeping up with the trends. We are understanding what you need. We are getting this picture, what we’re trying to do.””

When you have to change something up, sometimes you can actually start with the front-end. We go through the whole awareness part, the awareness, the engagement, the conversion. If you can’t get people’s attention through the brand, if their brand doesn’t tell a story, this is when you’re going to need to start to figure out if this is the time that you may need to refresh and redo your logos. You look at any of the great logos over the time, there’s a time that they’ve always gone through the adjustments of logo. Maybe not large, but very small. They’re doing small adjustments to ensure that they might be friendlier, they might be a happier brand, they might be an exciting brand, they might be your traditional brand. It’s important that those logos, the colours, the styling, the fonts, the graphics, all those are exactly how you want to be perceived in the marketplace.

It’s all around perception, and all around making sure that you’re a quality brand, or you’re a happy brand, or you’re a fun brand. That’s going to come out in a logo. Because when we’re dealing with an online system, we’ve only got a few seconds. We’ve got a couple of seconds to really get their attention, to grab their attention, and then they’ll click on to your website. Then they may click on to your landing page. But if the brand is incorrect, if it’s outdated, you’re going to new markets, or you’re wanting to change up, this is when I would start to really consider is a rebrand the right process for your business? I hope that’s helped. My name is Richard Toutounji, and I look forward to answering your questions next time on Quick Wins With COM.

 

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If you enjoyed this episode, be sure to share it on Social Media or with a friend. You can watch other Quick Wins With COM Episodes here or subscribe to the Podcast to get notified as soon as new episodes are released. And be sure to leave a comment below - we’d love to hear from you!

YOU MIGHT ALSO ENJOY THESE POPULAR EPISODES