Deciding Between a New Brand or a Brand Refresh
When deciding between a brand refresh or preparing a new brand altogether, it’s important to consider the following:
It’s a simple but crucial fact that small to medium-sized businesses need to stay relevant and resonate with their target audience, and your branding plays a key role in doing exactly that.
However, there comes a time during the lifecycle of every business when you will need to rethink your branding for several possible reasons.
In this blog, we delve into the details of creating a new brand or rejuvenating an existing one, aiding you in making the right decision for your business.
Creating a New Brand: Starting Afresh
Embarking on the journey of creating an entirely new brand for your business is almost like working with a blank canvas – it offers an opportunity for unbridled creativity, free from pre-existing limitations. This approach allows for a complete reinvention of your business identity, devoid of any prior perceptions.
There are compelling reasons why opting for a new brand identity might be the optimal choice. If your business is venturing into an untapped market or launching new products or services, a fresh brand can serve as a powerful tool to differentiate yourself from previous ventures. It can also facilitate connections with an entirely new or wider target audience.
Alternatively, in instances of significant setbacks or public relations crises, a new brand can signify a fresh start, helping to rebuild trust and credibility in your business.
Brand Refresh: Evolving with Purpose
Refreshing a brand is akin to giving it a makeover – retaining the core elements whilst infusing new energy and relevance.
It represents a strategic evolution, preserving brand equity while adapting to contemporary trends or shifting market dynamics. If your business has an established identity, a brand refresh ensures that you stay current and pertinent without forsaking the hard-earned recognition and loyal customer base you’ve cultivated.
If your brand remains relevant and aligned to your business ideas but requires a modern touch to adapt to evolving market trends and consumer preferences, a refresh can breathe new life into your brand image and reputation. Moreover, in cases of mergers or acquisitions, a brand refresh can seamlessly blend the values and essence of both entities while maintaining brand recognition.
Determining Your Business Needs
When deliberating between a brand refresh or a complete overhaul, several factors come into play, influencing your decision-making process:
Strategic Alignment
Understanding the strategic goals of your business is paramount. If you are undergoing a radical shift in direction or target audience, creating a new brand could be warranted.
Conversely, if your brand evolution aligns with your current trajectory and you don’t imagine there would be a huge shift in your overall aims and audience, refreshing your brand may suffice.
Budget
Financial implications should always be considered. While creating a new brand may require a higher initial investment, the reward of a blank canvas can be worth it in the right circumstances. If you don’t need to change everything, refreshing an existing brand can be a cost-effective choice.
Market Dynamics
Before making any decisions, it’s crucial to grasp current and future market dynamics that could affect the profitability of your proposed or existing brand. Your branding strategy should adapt to changing landscapes while staying true to core values.
Expert Guidance
As a leading digital marketing and brand development agency, our experts provide strategic insights and creative know-how to guide you towards the most suitable branding solution for your business.
Key Considerations When Creating a New Brand
If you opt for a full brand redevelopment, several additional concepts need to be considered:
Profound Understanding
Ensure a deep understanding of your business goals, market dynamics, and audience preferences to make branding choices aligned with your vision and mission.
Consistency
Maintaining consistency across all brand touchpoints, from your logo and visual assets to your messaging and customer experience, helps foster trust with your audience. Read all about this in our recent blog on the importance of brand consistency!
Flexibility
Anticipate future growth and changes to ensure your brand can adapt alongside your business.
By carefully evaluating these factors and seeking expert guidance, you can confidently navigate the decision between a new brand and a brand refresh, ensuring your branding aligns with your business objectives and resonates with your target audience.
Partner with a Proficient Agency for Branding Assistance
Whether you’re embarking on creating a brand from scratch or refining your existing one, collaborating with seasoned professionals yields invaluable benefits. As a leading digital marketing and branding agency in Birmingham, our adept team is poised to guide you in making informed decisions for your business.
With extensive branding and business identity expertise spanning various sectors such as construction, childcare, education, finance, and more we’re well-equipped to elevate your brand identity
Reach out to our team today to find out how we can assist you. Call 0121 355 8092 or email info@edge-creative.com to speak with an expert today, or take advantage of our current offer of a free brand audit worth more than £840 + vat.
