How to Know if You Need to Develop a New Brand

Are you building a brand or a business? Too often, people treat the two as separate entities. However, that couldn’t be further from the truth. You need to build your brand in order to ensure the success of your business. If you haven’t paid much attention to your brand, chances are pretty good that you have one anyway, and this brand might not be serving you anymore. Once you understand the importance of actually having a brand, and once you get clear on what your brand needs to be, you may realize that this brand is no longer serving you. This likely means that you will need to create a new brand from scratch. How do you know if you really need to create a new brand? Here are some thoughts:

Your Industry May Have Changed

Has your industry recently undergone a major shift? Does your business have a solid handle on the new ways? If so, it could be that your audience and customers don’t realize that you actually have changed with the times. This means that it could be time for a brand redesign, because this could signify to your audience that you have adapted and changed with the industry. Without a brand redesign, they may be under the assumption that your business can’t keep up with the changes.

You Look Similar to Competitors

Does your current brand stand out against the competition? If not, it could be time for a redesign. Your branding is an essential piece of the marketing puzzle, but it could do more harm than good if you look like other businesses in your industry. Your brand needs to stand out, and if it doesn’t it could be time to make some changes. Your goal is to stick with branding elements that do well in your industry while also finding ways to set yourself apart from the competition.

Your Brand Should Reflect Your Values

Does your brand reflect your values? This is an important question because these days, people want to do business with companies whose values match theirs. If they don’t match, you maybe won’t get their business. However, in order for people to make this judgement call, they need to have a clear idea of what your values are in the first place. If your brand doesn’t reflect your values, you should develop your brand to better reflect them. Undergoing a brand redesign isn’t something to be taken lightly. In fact, it can be a lot of work. That is why you want to make certain that you need to redevelop your brand. It could take some time to acclimate your customers and audience to your new look and feel, but when the situation is right, this will strengthen your business against the competition over the long term.

Are you still wondering if developing a new brand is right for you? Contact Xavinci for a consultation.