Most businesses refresh their brand every 7-10 years. Refreshing doesn’t usually mean you change your company name. It typically involves restyling your logo, changing the color palette and/or font, and perhaps adding or modifying the tagline (if you have one).
Here are top reasons driving refreshing initiatives:
- Reach a new audience- you might be looking to attract a different audience if demographics have changed.
- Reposition your brand- your products and services have evolved. Your vision has changed and so must your branding.
- When the market evolves- the market and those pesky competitors can threaten your company’s existence. Staying fresh, relevant, and noticed often means the difference between success and failure.
- New CEO- a new CEO brings a new perspective to an organization. Organizational changes and driving new branding initiatives are often on their “to do” list.
Whether you use a top ad agency that commands big bucks or your second cousin’s neighbor is a graphic artist, align yourself with the best resource that matches your objectives and budget. Remember, it needs to stay fresh and relevant for 7-10 years so it’s imperative to exercise due diligence.
Sure, there’s a cost for refreshing your brand but what’s the cost of standing still and letting the world, and your customers, pass you by? Companies are either serious about invigorating their brand or are willing to accept the consequences. Take a disciplined approach and incorporate a brand refresh into your marketing strategy, schedule, and budget.