In the world of business, change is the only constant. Business trends come and go, customers’ needs and expectations change faster than ever before and the whole world transforms as time passes. Even if you’ve managed to turn your business into a successful brand, it doesn’t mean it will stay like that forever. As they say, achieving success is hard, but maintaining it is even harder.
Brands need to adapt to the changes that happen around them and reinvent themselves constantly in order to stay relevant and keep ahead of the competition. The smartest companies know this and are always looking for ways to improve, whether that implies developing new products/services or changing their business strategy. Therefore, updating your brand every now and then is a must if you don’t want to remain stuck in the past.
However, that’s a lot easier said than done. You must approach this process with care and patience, as you don’t want to ruin a good thing. So, if your brand has not been performing as expected lately or you simply feel it’s time to give it a boost and make it even more attractive to customers, here are some of the most effective strategies you can employ to achieve this objective.
Identify your brand’s strengths and weaknesses
Does your brand require just a few tweaks, or is it in need of a complete makeover? The only way you’re going to find out the answer to this question is by conducting a proper evaluation of your brand. You have to know exactly what works, what doesn’t and what could be improved in before you proceed to making any changes.
Since no two businesses are alike, identifying your strengths and weaknesses will help you understand your brand’s needs and figure out what and how you should change it. And while you’re in research mode, you should also research your competitors to make sure you’re not just reinterpreting another brand’s image while trying to reinvent your own.
Branding is the who, the what and the why of your business. This means you have to know who you are, what values and principles your business holds and most importantly why you started the business in the first place. As branding experts at DPDK explain, in order for a brand to stand out among competitors and make a lasting impression in customers’ minds, they have to be authentic, transparent and consistent in their messaging. That can only be achieved by ensuring consistency across all customer touchpoints and creating a cohesive brand experience.
When making any changes to your brand, you have to take all your channels and platforms into consideration, so you don’t end up having disparate elements in your brand identity that could clash and send mixed signals to your customers. Change is necessary indeed, but it requires thorough planning to get the best results.
Know your market and customers
Knowledge is power, especially in business. The more information and data you have on topics that are of interest to your company, the higher the chances of making wise business decisions and reaching your goals. Therefore, it’s extremely important to have a deep understanding of the market you’re operating in and of your target audience when planning a brand makeover.
Customer’s needs and expectations change all the time – a process that has sped up due to digitization, so your brand may have served their requirements at one point, but that might not be true today. You have to keep tabs on what’s going on in the market and what the audience thinks of your brand. Conducting surveys is one of the most effective ways to keep your finger on the pulse of the market and get to know your customers better. The feedback you receive from your audience can provide valuable information in this respect and guide your brand in the right direction.
Focus on actions that bring the best results
When you chase after too many rabbits, you’ll catch none. The same thing can happen with your brand makeover if you spread yourself too thin by trying to employ too many strategies at once. Chances are you’re going to waste a lot of time and resources on things that won’t make a big difference to your brand.
The truth is, you don’t have to put into practice every branding tip and trick recommended by experts, since they’re not tailored to your brand’s specific needs. The smarter approach is to focus on the actions with a bigger impact on your brand that have the potential to yield the results you’re expecting. The less is more strategy is sometimes the best strategy for companies in need of a brand refresh.
Don’t be afraid to take risks
We know we told you to be cautious and patient when planning a brand makeover, but that doesn’t mean you should refrain from making big decisions because of the risks they imply. If you haven’t figured it out by now, taking risks in business is something normal and it’s also the only way you will be able to achieve anything as a brand.
People don’t remember brands that play it safe all the time. They remember those who have the courage to take chances and bring something new to the table. So, whether you’re thinking about implementing new technology, developing an edgy product, or giving your brand an innovative twist, don’t be afraid to take risks.
Giving your brand a makeover is definitely not an easy task, just as building a successful brand is not a walk in the park either. The pressure of failing and ruining what you’ve built so far can make companies reluctant to take action. However, no company can afford to ignore the need for change forever, so when the time comes for your brand to get an upgrade, don’t forget about the strategies we’ve listed above. They can serve as a great guide to starting your brand makeover process on the right foot.