Why Brand Evolution Is Always a Positive Move for SME’s
23rd April 2014
Throughout the world things are changing all the time; fashions, trends, technologies and consumer perception to name a few. The challenge for both large businesses and SME’s is to evolve with these changes and developments to remain relevant in, or lead a market sector.
Branding and external communications play a huge role in customer perception. Your brand is your voice and your promise to your customers.
So what is brand evolution and why should SME’s embrace it in their business plans?
When you start out in business you have a clear idea of what your business is offering, who your potential customers are and have probably established a visual identity, marketing material and online presence. You may of worked with a marketing agency to create a well thought out brand.
As your business develops and you experience the steep learning curve that all business owners experience you often find that after a few years trading your business has completely changed:
- It may of experienced significant growth
- The product/service offering may of developed or changed
- The customer groups may be different
- Internal processes may have become more streamlined
- You could be utilising different sales channels e.g ecommerce
Also during that time technology has developed and fashions have changed. Your branding and communications are no longer a true representation of who or what your business is. In some cases your branding has become tired and dated.
Evolving your branding and communications can revitalise your business and market presence. The process will help your business to reconnect with your existing customers and reach out to new customers.
Brand Evolution doesn’t stop with the identity (Logo)
Evolving your brand is an opportunity to re-evaluate your whole business, capitalise on it’s strengths and re-establish it’s core values. It’s also an opportunity to analyse your ideal customer and create an online and offline marketing strategy that grabs their attention or fulfils their needs. It’s the perfect time to explore marketing strategies and channels that you previously hadn’t considered such as embracing social media, creating social media apps or targeted advertising campaigns. Are you making the most of your online presence to convert website traffic into buying customers or clients?
Brand Evolution is not just for the big boys
Yes it’s true, brand evolution is not just for large companies and global brands. SME’s definitely need to evolve their brand to stay ahead of their competitors and remain relevant in their sectors. It doesn’t have to be a complete overhaul either. Sometimes a simple, well though out typeface change can make a huge difference to the customer perception of a business. It’s important that SME’s monitor their marketplace to ensure they have a grasp of trends in technology, fashion and service/product offering – they must grow and evolve with these trends.
A rebrand can really drive your business forward when done correctly and create business opportunities that were previously unattainable. Brand Evolution can build existing customer confidence and open doors to new markets. If you are planning to take your business to the next level and looking to evolve your brand give Lightbox a call on 0121 516 2500 or email email@example.com
Attached Image (Brand Evolution Example)
The attached image shows how the Starbucks brand has evolved over the years to accommodate company mergers and fashions. The current branding offers Starbucks ‘the freedom and flexibility to think beyond coffee’. Read the full article here