Most marketing professionals understand the importance of good branding. Effective branding differentiates your organization from competitors and leaves a memorable impression on your audience. This in-turn boosts sales and expands the size of your customer base.
However, what was considered a great branding strategy at one time may no longer be effective in the present day. Many organizations update or revise their branding strategy every few years to avoid the pitfalls of using worn-out and outdated branding practices. But marketers often fail to recognize when their current branding strategy has become ineffective.
Look out for these signs if you suspect your branding strategy needs to be revamped.
1.Expanding to new markets
Perpetual growth is one of the core goals for organizations in the modern era. This growth is often achieved by entering new markets which are viewed as profitable. However, many businesses fail to update their branding strategy before expanding to a new market.
This could create confusion among their existing customer base as the move may conflict with their existing view of the brand. For example, if a company that produces lightbulbs suddenly expands into the dairy industry, the move would leave customers puzzled.
The company’s target audience may be more receptive towards the change if the organization updates their branding. This branding revision could express the company’s interest in the dairy industry, and also reaffirm their commitment towards producing light bulbs.
2.Branding no longer resonates with customers
Branding strategies are designed to create an emotional connection with customers. If customers feel a strong enough connection to your brand, they’ll be more inclined to purchase your products and talk about them with friends on social media.
Marketers should track their brand’s popularity on different social media platforms to learn if their strategy needs updating. If fewer people are talking about your brand than before, it may be time to revamp your branding with something fresh that regains their attention.
Your new look should feel current and modern, but it should not alienate the customer base you built up through earlier branding campaigns.
If your branding needs to be updated urgently, consider getting help from a brand design agency in london. London has many design agencies that specialise in helping small and medium sized businesses rethink their branding strategies.
3.The market is evolving
Market trends are often tricky to predict. If the market shifts in an unforeseen manner, your brand will need to be updated to accommodate these new market conditions.
For example, many companies updated their branding following the onset of COVID-19. These new branding strategies focused on pandemic relief efforts and relied less on promoting the brand’s products and/or services directly.
This approach kept many brands relevant during the crisis, even if they weren’t advertising their products. Such rebranding efforts can boost future sales for the organization once things settle.
Marketers should remain vigilant for any market shifts that could impact them. If the rebranding is performed too late, you risk losing a portion of your target audience. So stay up to date with market trends and remember to revise your branding strategy as soon as you can.
4.Your company has stopped growing
Good branding is essential when you want your sales to grow. If your sales have peaked while your competitors’ sales continue to grow, you should consider revising your branding strategy. This new strategy can help you reach a wider audience and pull in new customers.
However, marketers need to be careful about changing a brand image that has proven successful in the past. If customers see your new branding strategy as less appealing than the previous one, your sales may decrease following the rebrand.
Marketers should consult with a creative design agency in london to check the appeal of their new brand strategy. This will ensure that your new strategy fits with current trends.
5.Your branding looks stale
Sometimes your branding just looks stale. If your company’s website or social media pages aren’t seen as attractive by modern standards, people will be less eager to purchase your products.
Branding quality is often seen as an indicator of product quality. So if your brand looks stale, your target audience may assume your products are outdated too.
In this situation, revising your branding strategy may not land you new customers, but it could prevent you from losing your existing ones.
6.The brand doesn’t reflect your values
Branding strategies that are created and rolled out in haste often fail to reflect the organization’s core values. When this occurs, your customers will receive inconsistent messages from your organization. As a result, they may develop an inaccurate understanding of your brand image.
Consumers will feel less confident about purchasing your products when your brand image is inconsistent. So consider aligning your brand image with your organizational values when you revise your branding strategy.
You should consider getting input from different organizational departments when you are creating a new branding strategy. This way your core values will be reflected in your future branding.
How can I revamp my branding strategy?
If your organisation is facing any of the aforementioned problems, you should consider revising your branding strategy.
Many small and medium sized businesses that have been around for a while are reluctant to change their branding strategy. This could be due to the risk associated with messing with a tried and tested formula. But these brands will need to update their strategies if they wish to compete in the modern market.
Marketers who are struggling to come up with branding strategies that are effective in the modern era should seek help from a brand design agency. London audiences tend to be more receptive towards branding trends that look fresh and unique.
A digital design agency can help your organization come up with attractive logos and designs that appeal to modern audiences. There is no reason for companies to be sporting stale and outdated branding in the present day. Especially given all the resources available to aid them in their rebranding efforts.