Maintaining a consistent brand identity is a cornerstone of marketing. While it is important that consistency remain within your marketing, there are times when change is needed.
Brand revamping involves making large changes to an existing brand message/identity. Whether this change is needed to protect the brand’s reputation, or revitalize customer interest, marketers can find renewed success by revamping their brand.
Here are 3 reasons why a brand revamp is good for your business.
1) It Can Reposition Your Brand as a Key Player in the Market
If your brand is in need of a revamp it could mean that customers no longer identity or are interested in your message and have moved on to your competitors. A golden rule in marketing is to never let your brand message become stale.
Take the time to research your industry and see what the latest trends and interests are among your customers. You can then take that knowledge and begin to rework your brand message to better align with the current environment.
For instance, Lego pulled itself from the brink of bankruptcy in the 1990s by researching and targeting demographics that had strong, positive memories of the brand and their subsequent offspring.
Taking the time to understand how you brand revamp can suit your audience’s needs will pay off in the long run. Moreover, a successful brand revamp can take your company from bankruptcy to new heights of success.
2) It Allows You To Fix Any Previous Mistakes
Crafting an engaging brand message is not an easy task. Even the most successful companies can miss the mark with their customers.
For example, Wendy’s 1980s tagline ” You’re Wendy’s Kind of People” was seen as boring and forgettable. With fierce competition from McDonalds and Burger King, Wendy’s needed to revamp their tagline to stay relevant.
The result, “Where’s the Beef?” increased Wendy’s sales and created one of the most famous branding taglines in history.
Wendy’s demonstrates that branding is not a one and done exercise. Even if you do not get it right the first time, there are ways to improve.
Brand revamping gives marketers and business owners the opportunity to turn the humdrum into the extraordinary.
3) It Increases Interest in Your Brand
Even if you do not want to commit to a full brand revamp (i.e. changing a company logo, tagline, colours, etc.) you at least need to find a new and innovative way of telling the same story. Done right, customers will respond positively to the new branding which can increase sales and exposure for your product and service.
However, keep in mind that the process of revamping your brand is not done at the expense of the company’s core identity.
Tim Hortons, for instance, has recently run into this problem. By attempting to create a global brand, they are at risk of losing their national identity as a premium Canadian brand.
Therefore, when deciding to revamp your brand you must maintain a balance between reinvigoration while keeping the company’s core values and message intact.
Change is in the Air!
Done right, a revamp can position your brand as a key player, allow you to fix any previous mistakes in your messaging, and reinvigorate interest in your brand.
Marketers should ensure that no change, be it big or small, jeopardizes the integrity or overall brand identity of the business, product or service.
With the constant stream of new information and competition, having a relevant and up-to-date brand is an important tool when growing your business.
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Dann, Kitty., & Jenkin, Matthew. (23 July 2015). Back from the brink: five successful rebrands and why they worked. The Guardian. Retrieved from https://www.theguardian.com/small-business-network/2015/jul/23/five-successful-rebrands-why-worked
Faeth, Bill. (2 January 2014). Before and After: 11 Taglines That Brands Wisely Revamped. Hubspot. Retrieved from https://blog.hubspot.com/insiders/marketing-taglines
Taylor, Kate. (2 August 2017). Tim Hortons’ Canadian sales drop following reports that the brand is losing its identity as a national icon. Business Insider. Retrieved from http://www.businessinsider.com/tim-hortons-sales-drop-after-reports-canadian-identity-crisis-2017-8