This column is authored by Chirag Thumar, Content Marketing Expert, Nex
In the crowd of millions of businesses, it’s really necessary to make yours stand out to attract your ideal clients. It is not enough only to swim against the water-you might have to follow suit of Moses. The point is, if you want your business to be taken seriously, you have to do something different that will leave a long lasting impression on the minds of the consumers and to get your business out of the dull gray box; a strong brand identity is necessary that reflects the purpose and characteristics of the business. And like everything else on the planet, the only way to keep your brand relevant is to update it from time to time.
What is a “brand”?
Your company’s brand is what your consumers perceive of your company. The idea or feeling that they associate with your company is the brand of your business. If you ask your clients of what comes to their mind when your business is mentioned and they respond consistently with an emotion or perception, which is your brand. However if the responses are inconsistent or they refer to non-image attributes like price, you brand needs to be developed.
A business can have brand even if it doesn’t have a logo or a creative image. The way your business operates and the actions that it undertakes are what create an emotional influence on the consumers and that is where your brand generates from.
Your company’s brand plays a vital role in the workings of its business, as it-
- Helps create an impression
- Evokes curiosity about the company and its business
- Gives out an essence of quality and professionalism
Why should you update your brand?
Brand image is crucial in communicating properly with your target clients the goodwill of your business and to assure certain levels of expectation. Even if your business has an established brand, it needs to evolve as the business itself changes. Re-branding and refreshing your company’s appearance is crucial to keep it relevant to your old clients as well as to attract new ones. There are many reasons why to do so
- To reflect internal changes
- Business growth: As a business expands, the brand needs to extend itself to appeal to the increasing mass of consumers that the company is trying to interact with.
- Globalization: When a company expands its products and services to the international market, the brand name has to evolve to be represented constantly in all the countries.
The biggest of the international brands like Google, eBay, Apple, Coca-Cola update their brands frequently to cater to their expanding business strategies.
When is it time to update your brand?
Re-branding your company is a decision that should be made after a systematic analysis of the response pattern of your consumers. There are certain signals that your brand needs an update which you need to look out for, like-
- If your brand is being associated with negative feelings
- If your brand is out of sync with your business identity
- If your brand is not making your business stand out
How do you get your brand updated?
A refresh comes in many forms and it is important to have an understanding of your clients’ attitudes to opt for the most suitable re-branding for your business. The options include:
- Getting a logo: If your business doesn’t have a logo, consider getting one developed. Or if your company has had the same logo for a long time, consider getting it changed. A case in point is the company Starbucks which has become a very easily recognizable brand with its much simplified logo.
- Changing the company’s name: For a business to appeal to the popular mass, the company needs a name that is easily accepted and recognized by its large variety of consumers. For example, the digital giant Google was once known as “Back Rub”.
- Releasing a new product that has gained relevance among the consumers.
- Changing the way of advertising: It is essential to advertise your company the right way and by right way, what is meant is the way your target audience will find your product or service the most appealing. It is equally important for the advertising strategies to be relevant to both your business identify as well as time.
It is important to understand that the update should not come when you are bored with the look or idea that your company sends out. It should not be based on your impulses but on the response of the people on the other side. If their behavioural trend shows a need for change in strategies to keep up the business or to expand it, then the choice of re-branding should come on the table. Brand update does not necessarily have to be in your face and grand. Sometimes simplifying is the key- just by removing elements that make your company look dated; it is possible to keep up with the changing taste of the consumers.