Your brand amounts to how your company is perceived in the minds of consumers and is defined by the experiences they have with your company. As important as branding is, it can easily become stagnant as businesses lack the time to make a change – or don’t realize a change is necessary. If you’ve found your business losing traction or lacking engagement with customers, take a moment to consider how your branding might be working against you.
Your Brand Identity is Outdated
Your brand identity is all about your brand’s visual elements and how you want them to be perceived. Take a look at common elements of brand identity – name, logo, color, tagline, business card design – and see how they compare with current design trends. Do this to stay relevant, not to blend in. Many fonts have been outdated for years, and certain shapes or colors may read better for your product. Even your company name may need an overhaul if it no longer speaks to your services or mission. The visual elements of your brand make an initial impact on consumers – make sure it’s the impact you’re looking for. Furthermore, your product or service could be exciting and revolutionary, but consumers won’t know that if it’s not reflected in your branding.
You Don’t Stand Out from Your Competition
Even if there are many companies and products out there like yours, your value proposition is unique and must align with your branding. How are your competitors successfully differentiating themselves, and how can you use that to elevate your brand? Ask yourself what sets your company apart: is it your products, price point, relationships with customers, or something else? Everything that makes your company unique can be reflected in your branding. Remember that the visual elements of your brand are important but fresh and new branding means little if it doesn’t represent your company at its core.
Your Reputation Needs Improvement
If your company has received bad press, reviews, or experienced internal struggles, a rebrand could help alleviate the negativity. Rebranding in the form of a coverup isn’t the goal, and changing your company name is one obvious example of this. However, a simple rebrand of your website and logo could make a difference, as a way to telegraph to consumers that you are making some changes in the way you do business, too. If you put effort into solving the problem and realign your brand with company values, rebranding could help you move forward.
Only 60% of marketers think their brand is well aligned with their long term goals.
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