Why Do Brands Die?
Will your company still be around in 5, 10, or 50 years from now? Brands that withstand the test of time are seldom rigid. They are able to adapt to our changing environment and evolving consumer behavior. Consider the following to avoid your brand’s funeral in the near or distant future.
Lack of Flexibility
Our market, environment, and consumers are continually changing which illustrates the importance of staying ahead of the curve and recognizing opportunities for evolving before your competitors. Processes and practices that work for your brand now aren’t clear predictors for future successes. By being open to innovation, and not clinging to old ways of working and routines, your brand could be more apt to survive the challenge of change.
Lack of Reinvention
If sales are becoming stagnant, it could be time for a brand reinvention. The process of reinvention starts with research. What alternatives, on the market, are your competitors offering to grab the market share? How can you recapture modern consumers? Your brand should offer what truly matters to your consumers, and since consumer behavior is continually changing, you should evaluate whether you are meeting contemporary standards.
Lack of Branding
Consumer brand loyalty can carry your brand through struggling times. Branding lives in the hearts and minds of consumers, not on product packaging. To create loyalty, your brand needs to become a fixture in the minds of your consumers. Consistent messaging and design across all mediums will help in developing your brand’s recognition on the market.
Signature Graphics marketing expertise can unearth a strategy that will bring your brand to life and encourage positive participation with your key audience. Reach out to us for a variety of visual branding applications that will play a part in keeping your brand healthy and vital.