Brand Identity is a culmination of visual details such as colors, design, logo that create an impression on the consumer’s mind. It is the first visual perception of the customer to distinguish and connect to your company. Strong branding speaks to your potential users, transforming them into reliable customers. On the contrary, ill-defined branding could lose customers to competitors. Intelligent branding hence needs to be strategized at the birth of your company and developed along the way.
Consistency is key to strong brand identity. Consistent ideologies, development, and services lead to consistent branding, therefore consistent customers and sales.
In today’s fast-moving world, customers are constantly progressing, creating a requirement for brands to grow to stay relevant. Companies are expanding into diverse markets and opportunities to cater to a wider audience. As the brand evolves, its identity also has to modify to stay true to the brand values and image.
Here are 4 questions that you need to ask to know if it’s time for your company to re-brand.
1.Do you have a new target audience?
Successful brand identity makes the customers feel relatable to your brand. If you are trying to attract a new user group, it is important to acquire their attention and cater to their needs. Rebranding helps your brand to appeal to the new audience through the personality and visual assets that it has now attained.
The process also allows you to understand character traits such as age, gender, preferences, requirements, and buying patterns of the targeted user group.
2.Do you want to redefine your brand perception?
Be it stagnant titles or unintended negativity through associations or audience, rebranding allows your customers to look at your brand in a new light. It lets your company, product or service shake off an old image, redefine its true intent.
The strategy also gives a deeper insight into existing concerns, addressing which opens new paths for your company to grow with a new image while retaining the core concepts.
3.Has your product or service changed?
Brand identity and products/services are inter-related and dependent on each other. They evolve and communicate with the customer together. Significant development of one requires the other to be remodeled to support the other. With new ideas taking form in the market on a daily basis, companies have to constantly offer modern solutions. This requires rebranding the initial identity to a new perception that speaks of the new product or service.
4.Are you exploring new geography?
Expanding your business can often lead you to unfamiliar territories. With markets growing beyond geographical boundaries, a global customer base has become accessible to all. Regardless of the existing brand name, the needs of culturally diverse customers vary and an understanding of their background can help build a strong identity amongst them.
A firm brand identity brings you customers and sales and builds you a base of loyal customers that connect with your brand. Analyzing the strengths and weaknesses and appropriately rebranding can save your brand from having a shelf-life to stay relevant in changing times. Rebranding gives your products/services a new life that still has the core of the brand built over the years.