Apologies if you’ve now got a David Bowie earworm, but today I’d like to discuss the need for branding for growth and change.
Well, let’s say you’ve got an up and coming business. It’s expanding. You’re pushing out more services or products than ever before. The future looks bright.
However, it’s important not to overlook your branding and how this can help improve your products and services.
A general truism about change is that, in business at least, change doesn’t happen unless it becomes profitable or until it becomes too urgent to ignore. If you don’t change, and you don’t grow, then there’s a chance you’ll fall behind competitors or risk stagnating.
So, how does branding fit in with your growing and changing business?
Look at it this way: Your brand says a lot about you. You know this already. It’s the first thing people see. It also stays in people’s minds, and first impressions do count. Over time, you should keep your branding ‘fresh’ as it may become outdated and start to look ‘old-fashioned’. Your competitors may also be making sure their brand identity is refreshed periodically, so take care not to be left behind. You don’t want them attracting your hard-earned clients with their latest fresh designs. However, keeping things updated doesn’t have to cost a fortune – a little tweak here and, there can be just as effective. Some of the major supermarkets do this, and some of us hardly notice until we look at their logo from 10 years ago – subtle choices have been made over time.
As well as being an external representation of your company, it also works on the internal side of things: Your employees value your branding as it provides a sense of cohesion and engagement; a sort of ‘all in it together’ attitude.
But, beyond all this, a brand is valuable!
Whatever product or service that you are growing or changing, your competitors will catch up with you in time.
Think you’ve made an innovation in the world of soft furnishings? A sofa connected to your phone so that you can warm it up before you get home? Well, maybe you have, but rest assured that your competitors are trying their hardest to emulate and improve on that innovation. Not only will their sofa be warmed up remotely, but it’ll also massage you and babysit the kids, too!
What they can’t do, though, is ‘be’ your brand.
Your brand is your ethos and values. It provides exceptional value to your business (when done well, of course!). Think of your brand identity as an additional asset that you can use to capitalise on the potential increase in value that growth and change brings.
Now, the best thing about this asset is that it can be joined up with all the other assets your business has. It’s versatile!
As well as being an asset, your brand is your identity and your reputation, placed prominently on your product or services. It shows that you’re out there, getting things done and that you’re serious about what you’re doing.
As your business grows or changes, your branding should mirror the journey, too.