Staying a step ahead of your competitor in today’s market is a full time job, and let’s face it, you are too busy keeping up with the demands of your current clients to even think about your brand marketing. It’s tough to compete with the “new guy” who has the creative new look but not your years of knowledge, skills, and experience. The truth is the power of brand awareness is the success or failure of your longevity in the industry.
How do you know when it is the right time to give your brand a facelift?
It is important to know that there is strategy involved, but also important to not miss your opportunity. Thriving companies like Nike and Google update their brand constantly. You may not have their deep pockets that can hire an agency to run million dollar campaigns for you, but there are strategic steps you can take to bring a fresh and revitalized look to your logo, website, print materials, motion graphic spots and film spots, and custom apparel.
I recently read an article that offered several reasons why it might be time for you to rebrand your company. Here are five reasons:
- Relevancy. Is your brand relevant to your target consumers? Does your logo, website and print materials look like they were created in the 1990’s but your product that you offer is relevant for today? Does your brand appear consumer-centric or company-centric.
- Predicted Growth. Growth allows for new marketing initiatives. Are you adding a new product or service? Now is a great time to re-launch your branding along with the new changes.
- A Change in Focus. Has your company changed from its initial concept? Maybe your brand is no longer relevant to your new focus and a change will confirm you are on track.
- New Market or Audience. Maybe your market doesn’t respond to your previous messaging. Boosting brand engagement through creativity, humor, new marketing channels, etc. can really impact your brand awareness with your audience.
- Competitive Influence. Keeping up with your competition is vital to the success of your business. Ensuring your brand is identified by your target audiences as the most relevant and successful will ensure continued growth. If you are no longer distinguishable from your competitor, it is time to consider a new facelift to your branding.
Does your logo and branding communicate relevance or do you have to explain it to others? When was the last time you gave your website a facelift? Are you innovative in your marketing materials and utilizing advanced technology in creative marketing?
With the rapidly growing competition in today’s market make sure you ask these questions of your company, your audience, and your competitors. If you’re losing relevance with your audience or losing clients to your competition make sure you assess your branding strategy. It may be time to rethink your brand awareness and make some relevant changes. Your brand is your company.
 Manternach, Lynn. “Six Signs It’s Time to Rebrand.” Corridor Business. CBJ Lists, 18 June 2014. Web. 15 June 2014.