Identity Crisis?
7 signs that your Brand needs an update
In today’s fast-paced business world, having a strong brand is key. Your brand is like your company’s face, showcasing its values, personality, and what makes it special. With markets and consumer tastes always shifting, it’s a good idea to review your branding strategies.
Brand elements are the building blocks that help you to define your identity and distinguish it from competitors in the market. These elements can include: Name, Logo, Strapline or Tagline, Brand Personality or Tone of voice, Brand Positioning, Brand Values. Colours, Imagery and Packaging.
Statistics reveal that It only takes 50 milliseconds for consumers to judge the visual appeal of your brand (g2.com) so let us quickly delve into the indicators that may indicate a rebrand is required.
1. Your brand feels dated
One of the most obvious signs that it’s time to update your branding is when it looks and feels out-of-date. What may have been sophisticated or on-trend just a few years ago can easily become seen as old-fashioned and uninteresting. Regularly review your logo, website, marketing materials and other brand assets to ensure they align with current aesthetics and consumer preferences. If they don’t, it’s time for an update. An easy way to determine if branding is out-of-date is simply compare it to competitors: do theirs feel more current? Another way to measure it is to evaluate trends, insights and feedback; utilise internal employee polls and customer voice to gain important insights.
2. Your target market has changed
As your business grows, so should your target audience. If you find that your branding no longer resonates with your ideal customers or fails to attract new ones, this is a strong sign that a brand update is needed. Conduct market research and gather information from your customers to better understand changing consumer needs, habits and preferences.
3. You have diversified your offering
If you are entering a new market or introducing new products or services then your current brand and your expanding business objectives may not match.
In such cases, evaluating and updating your brand identity can ensure consistency across all offerings and provide your customers with a better brand experience.
4. Your industry is changing
With technological advancements, cultural shifts and emerging competition, industries are changing all the time; this could result in your branding missing the mark. If your branding doesn’t reflect your company’s position anymore or fails to convey your competitive advantage, it’s time to realign your brand strategy.
5. You have Inconsistent branding
A strong brand must remain consistent across all touchpoints. If your branding is disjointed with different colours, messaging and tone across platforms, it can confuse your audience and weaken brand recognition. Companies with consistent branding across all platforms increase their brand loyalty by 60% (Linearity). If your branding is cohesive, it will create a strong brand image and result in increased brand trust and loyalty.
6. Your brand is coming under scrutiny
A rebrand can help redefine the company’s image, improve public opinion and restore stakeholder trust.
If you’ve ever ordered a parcel from retailers John Lewis, Next, M&S or ASOS or online platforms like Etsy or Vinted then you may have first-hand experience of the UK Parcel delivery company that went through a highly publicised brand identity revamp – Hermes now known as Evri.
In December 2021, Hermes faced allegations of bad customer service and parcel mishandling from the Times newspaper which Hermes said were ‘unfounded’ and ‘did not reflect our business’.
Some months later writing on Twitter on March 14 2022, the parcel company announced it was ‘going through a major transformation’ after securing ‘significant investment and dramatic growth’.
CEO Martijn de Lange added of the name change decision: ‘It is more than just a name change. It’s a statement of intent of our commitment to leading the way in creating responsible delivery experiences for Evri one, Evri where.’
(Source Metro.com)
7. You are involved with a Merger or acquisition
In the event of a merger or acquisition, it is important to examine the two companies involved. Combining unique brands may require the creation of a new identity that represents a combination of the strengths and values. Alternatively, an acquisition may require the acquired company’s branding to include branding assets from the acquiring company.
In summary, to thrive, a brand must adapt to the evolving landscape.
Regularly assessing your brand effectiveness amidst market shifts and changing consumer preferences is vital. Recognising when branding updates are required can propel your business towards growth, enhanced customer engagement, and a competitive edge.
Read how Citicreative delivered the new brand identity for Telford Town FC.
Time for a Brand refresh? Contact Citicreative today, we’re a friendly bunch.
