Brands can take a long time and a lot of meticulous thought and effort to build. Which is why it can be difficult – although necessary – for every small business owner to periodically take a good hard, objective look at their branding and maybe consider a redirect.
If you’re wondering if you should revisit your branding, here are three questions to ponder:
1) Has your business changed?
Has your product evolved in any way? Has the scope of your services broadened or narrowed? Has your pricing changed? For example, a small business might start off offering a service or product at a competitive (or even cut-throat) rate but then down the road, the business owner may find it wiser to specialize on meeting a niche demand so that they can charge more.
2) Has your industry changed?
Maybe your business has stayed the same but your industry has changed. How does your brand come across in a world of new technologies, new trends, or the ever-changing economy? A service that was once viewed as a casual indulgence may seem overpriced and extravagant after a recession. A product that was once seen as revolutionary may not seem so high-tech anymore. Does your brand still stand out as it once did when you first started?
3) Has your target market changed?
Are you still interested in the same target market? Perhaps you’d like a more distinguishing (maybe higher paying) clientele? Or maybe you’d still like the same target (for example, stay-at-home moms), but they themselves as a demographic have changed: modern stay-at-home moms are more social media savvy than stay-at-home moms from earlier generations. Does your branding reflect the changes in your changing target?
If you do decide to re-invent your brand, make sure there is a real reason to make the overhaul. Don’t just change for the sake of change!
Need a hand with your business’ brand? Call Kim Speed at Purple Moon Creative today!
