When should you sit back and evaluate your brand?
When you own a company that's running smoothly, you can get tunnel vision when it comes to your brand. You're so engrossed and invested as well as being extremely busy, that you cannot see your brand from an outside perspective.
Even if your business is growing, it doesn't mean your brand is as good as it could be and is often overlooked when it comes to a marketing strategy.
Let's take a look at when you should sit back and take the opportunity to evaluate your brand.
The age of your brand is an easy way to know if you should take a look at your brand and decide if to make changes. Most businesses rebrand every 7-10 years, the results are usually small tweaks to the logo and to the website to keep up to date with the modern times as we live in an ever-changing environment.
However, one crucial element that is often overlooked is your brands messaging and communication. This is the story behind your brand, what sets you apart and the feeling someone gets when they see your brand.
It is important to not only look at the design but take an overall look at your brand and how it comes across to an audience - a simple change can be extremely effective.
Ongoing Negative Activity
This could be a decrease in sales or an ongoing lack of engagement - any activity which is having a negative effect on performance. Now if you do find a decrease, you don't need to evaluate your brand right away! You should only consider developing your brand if the negative activity has been going on for quite some time and other efforts and marketing strategies haven't prevailed.
Changing your brand can potentially mean losing all recognition, be careful, and don't jump into it right away if you see sales falling.
Company Values have Changed
As a part of developing your brand, it's vital you find your core values and clarify what your mission statement is. In the business world, things can change rapidly, and sometimes your original mission statement and core values don't represent your brand today.
If this is the case, you will want to consider evaluating your brand and figure out what you are all about now things have changed. Once done you will want to change your marketing material based on the new values and mission statement you found and created.
Entering New Markets
Entering a new market is a big task and if your current brand doesn't resonate with the new market, then you should prepare to fall flat on your face.
Different countries mean different cultures and cultures are diverse with etiquette, rules, mannerisms, understandings, and perspectives.
You will need to develop your brand to appeal to the new markets you enter, not just by translating your text, but developing your brand so the new market can resonate with your brand.
When NOT to Rebrand
When it comes to brand development and rebranding, many businesses make rash decisions and end up in a much worse position.
If you are thinking about your brand, make sure you don't base your decision on these factors.
Trends are often, very short-lived. You definitely should not choose to rebrand based on niche trends in the current market, even if your competitors are doing so. Your brand should be unique to you and your services, this is what improves brand trust and loyalty - quickly hopping on a band-wagon can drastically impact your brand for the worse.
You will also quickly become another match stick in a box of matches if you choose to follow trends and copy others.
To cover up and hide
Mistakes happen. There's no need for you to rebrand if something bad happens to your business. This will only encourage distrust in your business and your customer base will start to fall.
People like trust. Admit your faults and mistakes, communicating with your audience how you are going to resolves issues, and make things better moving forward.
There has to be a meaning for you to evaluate your brand, and doing so just because you're bored, or just because you can, will not get you very far.
Your brand is one of the most important aspects of your business and playing around with it willy-nilly will create confusion, reduce trust and your brand recognition will start to crumble.
How can I rebrand or develop my brand further?
Here at Dupree International, we are a brand development agency and throughout the years have created a solid process that truly evaluates your brand - we call it the "Dupree Process". Our process defines who you are, whereabouts you are in the market, what changes you could be making and why you should be making them.
Once you go through the Dupree Process, you will understand the next steps to take and we can help you through those next steps with our wide range of services from brand design, website development, social & PR, photography & videography, and marketing strategy and planning.
Let's take a look at your brand and see what we can do for you:
+44 (0) 1780 757666