The Importance of Refreshing Your Branding

Everyone could use a fresh start every once in a while, including big companies. Just look at how Coca Cola and Starbucks have evolved over the years, adapting to new technological trends and modernizing their brand images. No matter how big or small, every company out there needs to keep up with the times and freshen up their branding if they wish to attract new customers and retain their old ones. Having a stale and outdated brand will make your company look indifferent and lazy about their own services or products, ultimately deterring even the most loyal of customers. If you still have doubts, just take a look at these four reasons below as to why refreshing your branding is important for your business.

Retaining Old and Attracting New Customers

Getting complacent won’t get you anywhere with your clientele. As soon as opportunity presents itself, your customers will switch sides if they feel your brand is getting outdated. Trends are everything nowadays, and neglecting them you will surely see a decline in sales as well as customers. To avoid this, companies have to spice things up with their branding every so often. Even a slight change of the brand’s logo, like adding some vibrant new colors, could potentially attract more young people and expand your consumer base in general. Either way, people are so fed up with their monotonous daily grinds that they just want something new and exciting to brighten up their lives. With refreshing your branding you’re doing exactly that: you’re making something they love and enjoy into something new and inspiring.

Evolving Market

With the development of new technology, companies need to refresh their brands to show how modern and up-to-date they are. Not to mention that the market is in a constant state of flux and having a flexible brand that can adapt to any situation is key to success. For example, let’s take a look at the airline Qantas, which updated its logo for the fifth time in the company’s history last year. This iconic Australian company keeps doing so every time they acquire new planes for their growing fleet, as was the case with the 787 last year. Alan Joyce, the CEO of Qantas said this in an interview: “We wanted to make sure our brand remained familiar but we also wanted it to be more modern and dynamic, like the 787 and like Qantas”. It shouldn’t surprise us then that this brand is considered to be the flag carrier of Australia.

Keeping Up With the Competition

Again, taking the example of Qantas, brand refreshing can go a long way and keep your competition at bay – after all, the majority of Australians proudly choose the Sydney based airline over any other company out there, even when there are much cheaper options. Finding an exceptional digital agency in Sydney to do the same with your branding could help your company rise above the competition. Just look at how Pepsi has evolved and rebranded itself throughout the years, always trying to compete with Coke. Is there a better example of two rivaling companies going neck and neck with each other for years on end? If either one of them got complacent with their marketing the other would immediately get ahead. This is why they spend such enormous sums of money each year on rebranding themselves and constantly update their bottle designs and logos.

Business Growth

Finally, your branding should reflect the values and goals of your company. This is something that isn’t constant and can change over time, especially when your company grows in size. Then the branding needs to change according to your growth in market share and credibility. Furthermore, going global requires you to rebrand your products dramatically as well. As an example, the Japanese clothing manufacturer Uniqlo added a new logo design upon their expansion overseas which had brighter colors closely resembling the color of the Japanese flag, as well as Japanese letters to evoke Japan in their customers’ eyes. They managed to effectively stand out from the crowd in this new global market by making their brand more exotic and thus unique.

All in all, refreshing your branding is important if you want your company to progress and stay at the head of the pack. That way, you’ll ensure that your loyal customers are happy and that your closest competitors are equally as unhappy.