5 REASONS WHY YOU SHOULD UPDATE YOUR BRAND POSITIONING:
- REACHING NEW CUSTOMERS. A brand refresh rooted in consumer insight can breathe new life into a brand while attracting and capturing new consumers and/or customers. If your consumers and/or customers continue to convey positive experiences with your products or services, but your organization is failing to gain share in the marketplace, perhaps a brand update is in order. If you are looking to grow your business and appeal to a new or broader target audience, then try strategically refreshing your brand’s Visual Identity System inspired by the Brand Equity Pyramid and the Brand Architecture.
- PUBLIC PERCEPTION IS CONFUSING OR NEGATIVE. Facebook’s recent rebrand to Meta is one of the more recent, more public, brand identity revamps we have seen. Public perception continued to deteriorate once headlines took hold of Facebook as whistleblowers and investigations began to portray a story of mishandling of psychographic and personal data in the best interest of its users. Facebook made moves to rebrand itself as Meta to distance its name from the onslaught of negative press. Ironically, meta is the qualifying prefix to metadata, the literally digital fingerprint to user data. This is a clear example of a brand revolution vs. evolution.
- BUSINESS IS EVOLVING. For just about all living things, time is always a factor. As businesses grow and craft their products or services to suit bigger landscapes, markets, or breadth of consumers, an organization may supersede its brand’s original messaging, positioning, and vision. If your organization has undertaken considerable expansion or it’s been more than 10 years since you last assessed your brand equities, it may be a good time to align multi-functional resources to see if a brand refresh is in order. Oftentimes, a brand evolution vs. revolution makes all the difference in staying relevant with consumers.
- LACKING DISTINCTION IN A COMPETITIVE SPACE. Declining sales is usually the first signal of brand stagnation. Among today’s saturated markets, good products and services may be overlooked because a brand isn’t distinguishable among other niche players. Finding unique, relevant points of differentiation coupled with a strong design strategy amongst the competition is crucial to compete with current and future customers. Creating an ownable Visual Identity System that brings to life your foundational brand building blocks, positions your brand to be distinct while unique. It creates visual triggers that help the consumer navigate to your brand and identify why a product is right for me.
- MISALIGNED OR CONFUSING MESSAGING. Brand consistency plays a foundational role in maintaining growth and revenue as consistent messaging is the key to driving loyalty and trust with a consumer over time. Audiences need relatable points of applicability derived from a brand’s message to connect to their personal circumstance. The creation of this emotional union brings brand loyalty, retention, and attention. Consistently leveraging your Visual Identity System throughout every interaction, a customer has with a brand will reinforce the brand equities and build awareness through consistent and reliable experiences and messaging.
Whether you’re a new player in the game or redefining your business objectives, consistent, unique, strategic branding is a necessary tool to continue to grow your business and develop deep, loyal relationships with your consumer segment(s).