365: What signs indicate it’s time to evolve a brand?
July 6th, 2011
How will I know when it’s time to brand or re-brand? What are the signs?
If we agree that a brand is simply the central organizing principle that engages teams internally and customers externally then it makes sense to “evolve” your brand when your business is ready to evolve. When a significant change in course is required to remain competitive or kick up the game.
- You’ve evolved to the point of mission creep. No one knows what we really do around her. An evolved brand strategy clarifies the meaningful strategic course and the purpose.
- When you need to close the gap between what you do and what customers think that you do.
- When you decide to differentiate by more than price and function (the easiest differentiators to copy).
- When you have a story worth talking about, worth listening to, and worth supporting.
- To develop the company culture and attract likeminded, zealous, inspired talent that shares your values and purpose.
- To increase the value and effectiveness of your marketing strategies.
- To build trust with your customers.
- When a new competitor with a value-loaded proposition is storming your market, reducing your once “owned” differentiation to a cost-of-entry benefit, usurping your brand position, and muting your relevance.
- Your organization is ready to enter new markets with a disruptive and powerful proprietary advantage that changes the strategic game.
- Your products perform better in independent testing against your two biggest competitors. Yet, they smoke you in sales. How can you have lagging sells with a winning product?
- You have acquired competitors. The infighting is impeding the market penetration.
- You are hoping to secure venture capital for your big ambitions. But the feedback indicated that you had a confusing message and a vague image.
- Once upon a time brands weren’t necessary in your industry. Your reputation was your strategic advantage for years. Things have changed. New players pushing a sharp brand are gobbling up the best and brightest and nabbing the deals to be had.
- Your industry has changed, the people involved have evolved, and the business has morphed. You need a cohesive brand to align the new direction, the evolution, reflect the relevance and introduce your Big !dea.
- Your brand has been gauging your carbon footprint up and down the value chain: adopting minimal packaging standards, innovating efficient delivery, and advertising models. You are now recognized as a forerunner in the sustainability economy. This opens whole new worlds to you…if you let people know what you stand for.
- Your brand is recognized as a great employer; your superior work culture has been honored with national awards. You want to build your employee engagement, programs, and success into your brand story in the hopes of recognizing your working community of contributors and attracting top talent.
- When it’s time to quit spinning a tagline and your wheels.When you are ready to strut your thought leading, game changing, taking care of people and business, big-bold, strategic innovations.
It’s time to evolve your brand when you are ready to turn it up and on.