When you start your business, your aim would be to create a successful brand. Sometimes your efforts may not yield the required results. A brand may take off but may then stagnate affecting the growth of the business. In some cases, the brand may not achieve success due to various reasons.
At such a time, a brand refresh would be a great idea. A brand refresh is not a rebranding exercise. You don’t have to do things over again. Keeping your existing identity intact, a brand refresh uses new tactics to help you succeed.
If you feel that your business branding is not giving you the results you wanted, then you can consider a brand refresh. We look at the various considerations involved in refreshing your business branding.
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When to Consider Refreshing Your Brand
There are certain situations or considerations when you can think of a brand refresh. The following considerations should prompt you to seriously think of a brand refresh.
1. Changes in the Competition
When your competitors change, then it is time you plan a change. Competitors can come out with new strategies that include new branding ideas. A competitor may come out with an innovation that has the possibility of taking the market by storm. In such a situation, you should be ready to act. Refreshing your brand will help you project yourself in a new light. This can help you take on the competition.
2. Marketing is Not Producing Results
Every business depends on its marketing to produce results. If marketing is underperforming, then it is a matter of concern. If it is due to lack of effort, it can be addressed. However, if your marketing is not working because of brand issues, then you need to consider a brand refresh. It is possible that your customers are not identifying with the brand. A brand refresh can help customers resonate with your brand, improving marketing performance.
3. When You Want to Reach a New Audience
Sometimes you may decide that you need to expand your target audience. You may want to reach out to a new target segment. This can call for a brand refresh. Especially, if you are targeting the young crowd or any niche segment, you need to make your brand more appealing. A brand refresh can help ensure this.
4. When Your Brand Seems Jaded
If you feel that your brand seems jaded, then a brand refresh can be helpful. When you carry out a brand refresh, you can change the look and feel of your brand. Such a refresh will help you re-enter the market being invigorated.
5. When Your Online and Offline Branding are Not Aligned
You need to be consistent in your branding. In some cases, your online and offline branding may not be aligned. This misalignment can affect your marketing causing problems. This is the right time to carry out a brand refresh. You can align your online and offline brand to enhance your brand visibility.
Going Ahead With the Brand Refresh
A brand refresh calls for reworking your strategy and coming out with new branding tactics. This activity can help you rejuvenate your brand and reactivate it. You are not changing your brand but only refreshing it. Refreshing a brand calls for a lot of thought and effort. While you can do it yourself, it would be better to get professional help.
You can look for a professional agency that can help you in refreshing your branding. If you are in the financial sector, you can consider choosing from among the best financial service branding agencies. Working with professionals will ensure your brand refresh exercise would be executed in a seamless way producing the desired results.