This quote by Henry Ford is a testament to the importance of building and maintaining a brand for your business. Having a great reputation for what you do is what keeps people coming back for more. If you wait too long to create or improve upon your brand, someone will beat you to the punch which makes it twice as difficult to come up with something new to stand out.
The “new normal” economic environment is forcing businesses and organizations to re-evaluate their business, marketing and branding strategies to adapt to a more skeptical consumer audience.
If you are looking to improve your brand strategy, check out our blog: Inbound Marketing Strategy: Improve Brand Awareness 50% in 90 Days.
If you would like to learn more about rebranding, read on...
The goal for every brand is to make a promise the consumer will embrace and act upon. But in a marketplace where consumer confidence is low and budgetary responsibility is high, it’s not just making a promise that separates one brand from another, but having a defining purpose that relates to your customer's desires.
Purpose-driven branding is essential to success in this “new normal” environment. A business or organization whose employees can answer the question, “Why are we here?” will make stronger connections with consumers in search of solutions to life’s “new normal” issues.
For an already established brand, the purpose of re-branding is to combat any negative perceptions and move the brand up-market by communicating a new, positive message.
Successful re-branding projects can yield a brand better than before. The ownership of brands is at the heart of value, along with specialty know-how, because of its relevance to people and the changing marketplace.
Due to the tremendous impact of re-branding, a methodical implementation process should be followed, which involves strategy, memorable visuals and personal interactions, which must come together in such a way that a customer will place trust in what is offered.
Once the re-branding strategy is completed, it is the role of marketing to promote your new message and image where the most important market segments are more and more aware of it, so it will improve their perception of you. The next step involves answering two key questions: 1) How does the marketplace perceive you? 2) How do you want the marketplace to perceive you? And if those are different, how are you going to change it?
If you are considering re-branding your business or organization, contact Holt Marketing & Management to help.
What are the biggest hurdles you face with your brand strategy?
Do you feel you need to rebrand to save face or are you just interested in creating a fresh and current image?
Please share your answers, any questions you may have, and your advice in the comment section below...you may help someone improve their business in the process.
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