Updating your look to a more modern image is the most common reason companies give their brand a facelift. But refreshing a recognizable brand is more involved than one might think. Certainly, choosing the right designer to perform the nip and tuck is an important element for success. Here are a few other factors to consider:
Companies have many reasons for updating their brand: revising the old look before it becomes outdated, increasing attention to generate sales, or even fixing a problem with the existing brand. Whatever the reason, the strategy should drive the design and not the other way around. A brand is more than just a pretty logo and needs to accurately represent the company's vision, values and mission to build strong brand equity with consumers. A company must also consider its reputation and make certain it is sending the right message with design elements, images, and language.
Consumer opinion determines the success or failure of any brand, so it's important for a company to consider how the update will be received in the marketplace. A current brand already has brand equity with consumers – they recognize the logo, know the market and what the company does for that market. This is a good thing, but it presents a problem when the look is about to change or the message is being tweaked. Companies don't want to loose brand equity by unveiling a radical new look that is too different from what consumers know. A successful brand revision should be part evolution and part make-over – keeping the elements that are working, and revising only the problem areas.
Rebranding a company can be a powerful marketing strategy… but only if it’s done at the right time. Change a recognized brand too soon, and there may be a revolt of criticism from consumers that can hurt sales and a company's image. So, when is a good time? Wait for the right conditions, such as when the company changes or expands their product offerings, when the target market is too diluted or consumers no longer identify with a company’s brand, or when their logo isn't standing out.
Ready to refresh your brand? Want to know more? Contact us for a brand evaluation to assess your brand’s health and learn how we can help you deliver on brand strategy and promise.