What does your brand say about your business?
A consistent brand helps create customers and build trust and loyalty. It can differentiate you from competitors, build brand equity and strengthen brand identity. It is one of the most valuable assets a business owns.
The branding process can help you create your brand voice and brand DNA (unique brand codes) which gives you the confidence to lead where others follow.
A good brand will make it easier to attract new clients and keep the customers you already have. It will add brand value to your products, reinforce brand loyalty and make brand awareness a natural process.
Here are the top 10 reasons its time to rebrand:
1. Your brand looks tired. You can tell a brand is tired by looking at its logo and materials for brand consistency, brand equity, brand loyalty – anything that doesn't reinforce the brand. By refreshing these elements, you will give your company a new sense of energy and direction before competitors catch wind of this vulnerability.
2. Your brand has grown beyond its brand's equity. Your brand has grown so large (and perhaps successful), or you have diversified your brand so widely that it appears to no longer represent a single idea or product. You may be better off creating a new brand for this idea than trying to say too much with one brand.
3. Your brand has had difficult time over coming a negative reputation. The reputation of your business has been so damaged it may be best to create a new brand identity.
4. Your business is growing into international markets. If your brand is too localized and you are moving into international markets, it may be time to brand overseas in a manner that will not confuse your brand identity, but instead build brand awareness.
5. Your brand is facing intense competition in the marketplace. If your brand can not stand out among its competitors, you may want to consider creating brand differentiation.
6. Your brand is suffering from brand fatigue. Brand fatigue happens when your brand has been used so much that it barely holds any hint of the original brand personality or image and is no longer able to generate trust, loyalty or a consistent brand experience.
7. Your brand carries a label of inferiority. Some brands carry the reputation as second-rate or cheap due to outdated brand elements or branding strategies. This can cause difficulty in attracting new customers.
8. Your brand is in a stagnant industry. If your brand is no longer relevant to your market, you may want to consider developing brand differentiation that will help build brand awareness.
9. Your brand does not represent where your company is headed. If you are in the midst of a business transition or expansion, then it may be time to rebrand to present a consistent brand voice and brand message across all platforms.
10. Your brand is not easily identifiable. If your brand is suffering from brand confusion or brand anonymity, you may want to rebrand with a consistent brand voice and brand image that clearly defines who you are as a company and what you stand for.
Although creating a successful brand takes time and patience, the results are well worth it when you can say with confidence "our brand is our business." If your brand is suffering from brand fatigue, brand confusion or brand anonymity, it may be time to invest in brand development. Our Marketing experts at Peterson SEO are here to guide you through your brand development and management.
This Blog is part of a series on Brand awareness. To learn more about branding check out Branding 101.
Jessica is the CEO of Peterson SEO Digital Marketing Agency and is a serial entrepreneur that has not only owned and managed her own businesses, but also helps other small businesses grow to new levels. Learn more about Jessica & Peterson SEO.