4 key times when a company should consider re-evaluating its brand

For some of us, summer is a quiet time of the year. With all of this free time it’s good to take a step back, take a look at your business and see if your brand needs refreshing. In her recent newsletter, Liz from Market Navigators wrote a great piece about branding and why it’s important to give it close attention. There are 4 key times when a company should consider re-evaluating its brand. Her colleague Rachel Bennett from Frank Branding explains:

1. When you want to grow. Your brand is all about differentiation—what makes a customer choose you over someone else. Solid branding helps define what makes you unique. It provides focus, gives staff direction, and simplifies marketing decisions.
2. When you’re competing to attract and retain employees. In a tough labour market, a strong brand can create an emotional connection with your employees as well as your customers. Brand strategy provides focus for decision-making, increases employee engagement and retention, and helps you attract the right kind of new talent.
3. When you’re looking for funding. A strong brand communicates that you are serious about doing business, have a professional approach, and consider your business market-viable. In addition, a brand can be a corporate asset—the better you are known in the marketplace, the higher the value of your business.
4. When your service reputation has slipped. Your customers are your most important promoters. If your reputation has slipped, evaluating your brand promise—the experience customers associate with your brand—offers insight. Once you clearly define it, you can ensure it’s delivered in all customer interactions.

I know that sitting on the beach is quite nice, but while your there take a few minutes to do some brand evaluation.