The Story:
During times of change, organizations often focus on their brand’s resilience and how they can remain relevant and responsive. “Though some organizations may need a complete overhaul of their image – due to a major change in company direction, a merger, or a crisis – many companies can get more mileage out of updating or enhancing their current brand,” according to Forbes. While changing conditions may require a new approach to brand differentiation, most organizations can get renewed relevance with a refresh, especially when that updated brand spotlights shared core values between the organization and the consumers it wants to influence.
The Takeaway:
When planning a brand refresh, make sure your renewed brand identity speaks to and leverages the organization’s core values. Even more, by researching and understanding the current needs and wants of customers, brands can authentically meet customers where they are. “There’s a growing acceptance among leadership that their brand is one of their most valuable assets and an effective lever to driving future growth,” according to Forbes. “If their assertive leadership is transforming to change the organization’s future, the brand must lead the way.”
Sources: Forbes, “Everywhere You Look Companies Are Rebranding – But Why?,” July 2023, and Hanover Research, “It’s Time To Rethink Your Brand,” August, 2021