On average companies change their brand image every 7-10 years. There will come a time when your brand image is no longer up to par and it could be damaging your business. Apart from being outdated visually – which impacts perception of your business – it may also represent the wrong image for the markets and demographics you are now talking to.
Why is your brand muscle so important?
Your brand muscle is the strength of your business. A brilliant brand will give you power to elevate you above others. A weak or vanilla brand will leave you lost in a sea of many.
Building a strong brand is therefore the bedrock of every successful company.
What is a brand?
More than just a logo, although a logo can symbolise a company, a brand identity is what your stand for, it’s your DNA, your values and how you communicate with your audiences. It’s how you want people to feel when they interact with your company. Essentially, your brand identity is the personality of your business and a promise to your customers.
No matter the size of your business you will benefit from defining your brand.
The brand personality of your business is perceived in the mind of someone who has experienced it in some way. These experiences are known as brand touchpoints. Brand touchpoints could be an online review, your website, word-of-mouth referral, blog or article, conference material, animations or a mention on social media. Branding is the process of controlling how your business is seen and understood.
There are 5 key concepts we’d use to help define a brand.
- Purpose: Why does your brand exist?
- Vision: What you aspire to achieve.
- Mission: What you are.
- Values: What do you stand for, what you believe in. Your DNA
- Positioning: How are you different from the competition?
An interesting exercise is to sense check your brand with these 5 concepts and see if they align.
When is the right time to rebrand?
Fundamentally the rebranding process begins when a company or organisation needs to evolve and shift. It could be because they want to reposition themselves within their current market, they want to broaden their appeal, or they may be looking to expand into a new space.
Sometimes rebrands follow mergers: neither firm wants to appear the lesser, so a new name is hatched. Sometimes they signal a broadening of ambition, as when France Télécom became Orange and began expanding outside its home market.
Sometimes firms rebrand to polish their reputation. Brands have equity that can depreciate and can be better ditched, to gain distance in the consumer’s mind from a tarnished good. Philip Morris, a tobacco firm, is now Altria—though it still sells cigarettes.
Simply too, a rebrand or refresh can evolve as the existing brand is outdated (is over 7 years old) and it and the company needs to be energised.
Our top ‘when to rebrand’ reasons are:
- Your internal and external brand perception aren’t aligned.
- Your target market is not well defined, or it’s time to reach a new audience.
- You are losing relevance and you need a brand revitalisation.
- Your product or service mix has changed.
- Your visual brand is outdated.
- You have experienced a change in leadership.
- You realise you have the wrong brand image.
- You have undergone a merger or acquisition.
- Your company’s mission has changed.
Glow is a brand, creative and design agency. We have been trading for over 22 years and have created many amazing brands. Whether you need a rebrand or refresh we can help you get seen, get heard and get sales.
Let us be your secret weapon and help you strengthen your brand muscle.