A brand refresh can come in many different forms, from designing new graphics, changing a company name, releasing a new product category or even changing the way in which a business advertises.
The list goes on.
Re-branding and refreshing a company's external appearance however, is crucial for success. Even the biggest international brands such as Apple, Coca Cola and Starbucks, regularly update their branding to remain relevant to their target audience, or even attract a new one.
The example of Starbucks displays how the brand has become better established within the marketplace, allowing for a much simplified logo as it became more recognisable.
Why does my brand need a refresh?
There are many reasons why a brand may decide to have a refresh, including:
- Changes in the marketplace or a demand for new products
- To reflect internal change, where changes made within a business should be reflected on the outside. For example, a change in services should be reflected within company branding to inform clients and customers.
- Business growth. As a business grows, the branding should as well. The brand must reflect the current missions of the company, as well as growth in market share and credibility.
- Globalisation - when a company begins offering its products and services globally, it is important for the brand name and image to be represented as a constant in all countries. For example, Google was once known as "Back Rub" and eBay was "Auction Web".
Refreshing your branding is critical in gaining new customers, as well as retaining existing ones. Remember, successful branding works from the inside out. To get started with your refresh, begin with a marketing audit to better understand areas for improvement, as well as identifying and refining core values and messaging.
Our creative nerds love a brand talk over coffee - if you're interested in updating your brand, come along to our next Marketing Leaders Lunch