4 Elements of Brand Refresh
Branding defines a business and maintains its core values, mission, and vision. It also differentiates the business from competitors and sets it apart. However, when a brand stays longer in the market without quality changes, it loses value, especially when other businesses increase their brand visibility and value. For this reason, business owners should refresh their brands to remain relevant in the market. But what should one consider when thinking of a brand refresh? This guide gives the key elements of a brand refresh that businesses can leverage to increase their value and remain relevant.
Reevaluating the Product or Service
The first and most vital consideration to rebranding is understanding the current product impact in the market. Businesses should research and determine the impact of their products before rebranding. It is important to learn what customers say about the product and whether they will purchase it repeatedly. This discovery process helps businesses determine the starting point for rebranding. They can use qualitative interviews and surveys both online and offline. Businesses should also use this opportunity to discover their strengths, weaknesses, and threats and devise strategies to help them stand ahead of their competitors.
Engaging the Team Members
Employees are the backbone of every business that plays an essential role in business branding and rebranding. They understand the products or services in-depth and can increase brand visibility offline and online. Before rebranding, speaking to the team and informing them about the business’s intention to rebrand is important.
Entrepreneur Shalom Lamm advises businesses to be open to ideas and never shut anyone out because different people give different views regarding brand refresh. Putting together all these ideas can help reevaluate and strategize to develop effective approaches to make rebranding successful and impactful.
Determining the New Brand Elements
Rebranding involves various elements, such as changing the business name, logo, colors, fonts, styles, tagline, social presence, website, and key messages. No matter the rebranding a business wants to roll out, it is important to determine the changes that will make the brand impactful. Customers can give honest views and feedback about the brand elements depending on their purchase histories. The goal is to change the overall outlook and surpass tangible brand attributes to stand out.
Creating a Rollout Plan
Every brand refresh should have a rollout plan to guide the business on the best approaches to apply before, during, and after rebranding. The business should work on strategies to create excitement when rolling out the brand refresh to send a message to their customers and attract new ones. It also helps build momentum without worrying about losing existing customers to competitors.
Build a Successful Brand with the Best Approaches
A brand refresh can be successful if businesses apply appropriate steps and implement effective strategies. This process doesn’t happen in a single moment. It may take time as businesses devise creative and operational strategies to roll out the brand. Shalom Lamm, a renowned entrepreneur, advises businesses to believe in their capabilities without focusing on limitations that may refrain them from achieving their business goals.