Does Your Brand Need a Revamp? These 3 Signs Say Yes

The bearer of your first impression, your brand is your company’s identity, serving as a trusted voice and delivering an ever-engaging experience that captivates your prospects and delights your customers. 
 
Your brand is integral to the growth and success of your business, and the key to leveraging its power lies in your ability to continuously evolve it as your customers’ needs change. While this practice involves a series of tasks and tight collaboration with team members across your organization, revamping and relaunching your brand is an investment in the future of your business. 

3 Signs It’s Time for a Brand Revamp

Knowing when your brand needs an update can feel like a subjective exercise, which means convincing stakeholders to invest in a months-long project may present a challenge. Fortunately, there are specific signs you can point to that go beyond personal preferences and, instead, clearly demonstrate the value of revamping your brand to the health of your business. 

Brand Revamp Sign #1. Your brand isn’t reflective of the customers you serve.

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As technology continues to shape how we do just about everything, your customers’ expectations and goals are developing at a rapid pace. Ignoring the ever-changing needs and aspirations of your customers limits the growth capacity of your business. Whether looking at your brand through a DEI lens or revamping your look, voice, and tone to better serve a growing segment of your customer base, your brand should always equip, inspire, and celebrate the customers who make your business possible.

Brand Revamp Sign #2. Your closed-lost rate is rising due to competition in the market.

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Your sales team can indicate the signs that a brand revamp is overdue by revealing why prospects choose a competitor. Most sales teams track their closed-lost reasons and note when prospects cite that a competing brand appears more modern or appealing. Find out if this is true for yours. If not, request that sales representatives start tracking this data to advise future branding decisions.

Brand Revamp Sign #3. Your brand assets are outdated and inconsistent, leading to internal confusion and an external identity crisis.  

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One study revealed that brands with consistency in their presentation are 3-4 times more likely to achieve increased visibility than those with inconsistent presentation.
 
A disjointed brand experience means that your current brand doesn’t have the exciting energy or defined structure to be appreciated and adhered to in your internal culture. Worst of all, your prospects and customers are on the receiving end of the mixed messages and jumbled assets, which means they can’t clearly and succinctly describe who your company is and what it does. 
The three signs it’s time to think about revamping your brand all have something in common: lack of evolution. And while it may feel like a hefty investment, evolving your brand not only avoids pitfalls it also produces tangible, long-term benefits for your company.
 
One study revealed that brands with consistency in their presentation are 3-4 times more likely to achieve increased visibility than those with inconsistent presentation.
 
A disjointed brand experience means that your current brand doesn’t have the exciting energy or defined structure to be appreciated and adhered to in your internal culture. Worst of all, your prospects and customers are on the receiving end of the mixed messages and jumbled assets, which means they can’t clearly and succinctly describe who your company is and what it does. 
 
The three signs it’s time to think about revamping your brand all have something in common: lack of evolution. And while it may feel like a hefty investment, evolving your brand not only avoids pitfalls it also produces tangible, long-term benefits for your company.

The Massive Benefits of Brand Evolution

In addition to solving the aforementioned problems, moving your brand forward comes with great benefits that positively affect both staff and the customers and prospects who interact with your brand. 

Internal Benefits 

Your brand starts from within your company. If staff members aren’t in tune with the look and feel, voice and tone, and values that make your brand unique, your business is missing out on the opportunity to nurture what could be its fiercest and most passionate advocates. 
 
Equally important, an established brand that generates enthusiasm creates a culture of accountability when employees communicate outwardly as individual representatives of your brand and when they craft communications for your brand itself. By accountability, we mean speaking, writing, and posting about your brand with an appreciation for the standards you have set into place.

External Benefits 

Revamping your brand affects every milestone in your customer journey. A successful brand relaunch can produce returns on your investment in the form of lead generation, new customers, customer retention, and referrals. Marketers predict a 10-20% growth increase just by creating and maintaining a consistent brand.
 
An innovative take on your brand identity can also aid in the expansion of your marketing strategy. For example, by introducing an insightful and well-rounded content program, your new brand can position itself as a thought leader in your industry, increasing customers’ trust and broadening your reach to acquire new prospects. 

Ready to Get Started on Your Brand Revamp?

If any of these indicators sound familiar, there’s no need to fret. Conducting a brand revamp can be a highly-collaborative project that brings teams together across your company. To make this initiative easier, the Theorem Team created a new resource called A Guide to Successfully Revamping and Relaunching Your Brand. 

Get the Guide!

A Guide to Successfully Revamping and Relaunching Your Brand includes templates and
checklists to help you and your team efficiently and effectively conduct a brand revamp.
Download your copy to access these resources now!

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