The term “brand” represents your business values, history, personality and direction. It’s a statement as to who you are and what you stand for. As times changes so will your business, the brand and the image it projects.
What is involved in Re-Branding?
For corporate companies, it’s a strategic action in which they will partner in research with a design firm to determine what elements require changing or refreshing.
How do you know when you need a re-brand?
The changes in your business may be difficult to pinpoint, but are typically specific to your business model and you may not have even realised the changes that took place.
Sum up everything that has changed about your business from the processes, target market, sales strategies to the way you’re now perceived. Look at it in a time line, what’s changed within a year, anything significant or an accumulation of small changes — A number of small changes can be just as strong as a large change!
- A need to increase relevance to the consumer.
- Your brand has a confusing or nonexistent image.
- You are broadening your brand to appeal to additional consumers.
- The primary benefit your brand “owns” has evolved from a differentiating benefit to a cost-of-entry benefit.
- Your business is significantly altering its strategic direction.
- A new competitor with a superior value proposition enters your industry.
- The tone of the brand does not speak to the target market.
- Your business has acquired a proprietary advantage that must be worked into the brand positioning.
- Corporate culture renewal dictates at least a revision of the brand personality.
- The brand looks and feels dated and/or its technology has evolved and is not represented.