Marketing professionals with experience under their belts treat their brand as a living entity. In other words, they see branding as something that evolves. As such, a brand sometimes needs updates along the way. Therefore, experienced marketers give their brand continual attention. They try to manage its evolution flawlessly.
Marketers with an eye on market trends know when to move a brand forward. What’s more, they understand how they should approach any changes.
On the flip side, some companies are in desperate need of an update to their branding. Does your business fall into this category? Would you recognize the signs if this were the case? Furthermore, would you know what to do if your company needed an update to its branding?
Based on insights from Brandmatters branding services, here are some tell-tale signs that you need to engage with a branding service immediately.
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Your Service or Offering Has Outgrown Your Brand
There are times when a company or a business evolves faster than its brand does. Things move quickly in the marketplace. Often, organizations see the need for altering their business offerings or their modus operandi. However, the brand sometimes fails to catch up. In such situations, the company’s branding no longer serves the best interests of the business.
For example, the company Yellow Pages was faced with a unique problem. That is, the world of digital marketing brought the phone book industry to a screeching halt. Yellow Pages, the company, didn’t really make yellow pages anymore. Therefore, their brand didn’t communicate what they were actually doing. What’s more, the brand was outdated and confusing for viewers.
Then, Yellow Pages changed their name to YP. In other words, they rebranded themselves. This helps them to maintain relevance in the digital marketing sphere.
Your Competitors Have Updated Their Branding
Generally speaking, you should make your branding and business decisions based on what you deem best, rather than on what your competitors are doing. However, sometimes the writing is on the wall.
Breakneck advancements in technology and consumer habits now mean that industries are evolving at a faster rate than ever before. And, as industries evolve rapidly, so do brands. If you see all of your competition refreshing their brand, it might be time for you, too, to get in line with the changing times.
Your Company Has Been Through Mergers and Acquisitions
Your company just merged with another company. What’s more, that company recently bought out another company that just acquired another company. And now you are one big, extremely confused company.
Mergers, buyouts, and acquisitions are a part of everyday business. And when two brands come together, the results can be confusing for customers.
Lots of companies have had to re-brand themselves in these cases. Not doing so creates an inconsistent image, which is never good for business.
If this has happened with your company, you need to get in touch with a branding services company right away. Ask their experts to sort through the confusion. You’ll need their creative touch to help you create an updated brand for your company.
And when they have finished their work for you, your new branding will artfully convey the concepts you want your customers to have about your business.