9 Reasons For A Brand Refresh
Similar to the rapid changes with technology and fashion, brands need to have a refresh every six to eight years to stay current.
Over time, brands get tired and that’s why a refresh is so important; it’s about modernizing your brand and keeping it fresh in today’s market.
Giving your brand that breath of fresh air can help you reach new audiences and initiate new business opportunities.
1 Ownership Change
If you’re a new owner of a company, even if it’s well known, the brand might be dated or you may just want to put your personal touch on it. Regardless of your reasoning, an ownership change is a great time to sit down, look at your brand identity and consider a refresh.
2 A Company Plateau
If your company is in a lull, you will need to brainstorm how to get to the next level. A refresh will revive your tired brand and better position it for success.
You can look at internationalization in one of two ways: your clients have expanded beyond the local region and/or your company is looking to expand or move internationally.
Some brand names and logos may be misunderstood in certain countries and cultures. Make sure to research the meaning behind your name and visual identity and change accordingly.
There may be a shift in the brand experience or you’re wanting to target a new clientele; regardless of your situation, consider a refresh that speaks to that market to help guarantee the success of your business.
5 Outdated Visual Elements
Brands get tired and this is particularly true for logos and colour palettes as they tend to align with the trends of the time that they are created.
Your logo and your colour palette are the two most visual elements within your brand. What might have been modern and cutting-edge in the early ’00s, might not be the case today. Keep an eye on how your company looks as compared to others in your industry and see how your visual elements are resonating with your customers. If you come to the conclusion your visual elements are outdated, consider a refresh.
6 Bad Reputation
Maybe it was something that occurred while somebody was using your product or service or maybe your company was caught up in a larger incident beyond your control, regardless of the negative PR, this is the time where you need to refresh. And remember to make sure to acknowledge the problem in a way that puts you back in a positive light.
Think of McDonald’s and their negative public perception in the past. They had the label of cheap, unhealthy, but delicious food.
To get rid of this bad reputation, McDonald’s started to include healthy options on their menu and had a marketing campaign of “Our Food. Your Questions” to answer whatever their customers were curious about.
They were transparent, honest and creative in the way they approached questions and ultimately helped shift their negative reputation.
7 Changing Markets
When we say changing marketing, we’re referring to where your marketing takes place and who it’s speaking to. With the rapid evolution of our digital world, companies have had to think about how their branding comes across to the changing clientele and/or competitive landscape.
Shifting from print marketing to digital marketing is extreme and looking at your brand and how it’ll come across to your customers on different marketing platforms is essential.
8 Too similar to another company
Think of PayPal and Pandora or Automation Anywhere (before its rebrand) and Airbnb, face it having a brand – particularly a logo – that is similar to another company occurs frequently.
Regardless of which company came up with the logo first, when you have a brand that looks similar to a different company, we recommend a refresh as you want to stand out amongst the noise.
9 Acquisition of new companies or brands
As your company grows – or just as time goes by – you may acquire new companies that come with their own unique branding and clientele.
Once you obtain a new business, consider a refresh to connect the new brand with your current one.
Whether it’s creating a new brand strategy or looking into a brand refresh, understanding why branding is critical to your business’s success is essential for your company to take the next step.
Call Y5 at 778-379-2177 or contact us to chat about new branding for your business and why working with us can help you reach your goals.