reinvigoratearticle

Reinvigorate What? Brand Health Maintenance

By: Lainie Liberti

Most outward qualities of a brand are expressed through tangible assets like the company name, the product, tag lines, symbolism, iconography and even jingles. A good brand will tap into all of the senses, reminding consumers what differentiates your product from all the others. Your brand image is comprised of not only the factual information presented, but emotional/ experiential aspects that a customer perceives intangibly and understands it to be. It defines an organization and distinguishes it from its competitors. These are valuable considerations, especially if your current plan is no longer servicing your goals.

How do you know if it’s time to reinvigorate your brand? Ask yourself these questions:

1. Are you unsatisfied with the bottom line, sales, and growth?

2. Have you seen a lack of new business referrals from current clients / customers?

3. Have you noticed fewer and fewer repeat/loyal customers?

4. Are your competitors outshining your brand?

5. Do you feel it’s time to enter a new market?

If you answered yes to any of these questions, it’s time to reinvigorate your brand!

While owners of larger established brands tend to pay more attention to the care and maintenance of their brand image, periodic brand revitalization or “face lifts” can help increase any business’ sales revenue. Remember, success is measured through sales and strong sales are a result of a strong relationship your customers have with your brand. Thus, the need is great to reinvigorate your brand when sales are flat. Investing in your brand is good health, with potential high quality returns on investment. Here are some strategies for reinvigorating your brand:

Refine and Define Your Brand’s Vision

One of the first rules of branding is: Great brands know themselves. In most cases, companies do not revisit their vision once the business has been launched. We know it’s a laborious task, but time invested in your brand is not time wasted. In other words, “making” the time to re-examine the overall vision, mission and business objectives seems to happen less, or not at all, as the practice of actually conducting business becomes the priority. However the reality is that over time, visions shift and values adjust. New opportunities present themselves, and new avenues are to be explored. Taking time annually to revisit these things and make adjustments is an eye opening experience for all stake holders involved. This process tends to fuel both the external relationship with your customers as well as reinvigorate and motivate your staff. It's a “Win-Win” situation, I’d say.

* Review where you’ve been.

Review your brand’s history, heritage, beliefs and roots. Don’t forget to include your brand culture.

* Rewrite your brand vision.

Your brand vision identifies your company’s purpose for existing. It reveals a broader, deeper, viewpoint that enriches your customers, your authentic purpose for doing business. Identify what brought you to this point and ask yourself what has changed and what has stayed the same. The answers to these questions will help you assess what actions need to be taken.