When the market moves, your brand shouldn’t stand still.
Relevancy is a constant battle. Fresh content becomes old news overnight, and trends can skyrocket to fame then dwindle to ashes in a matter of hours.
That’s why remaining fresh and relevant in the market is so critical for brands. Remaining fresh and relevant in the ever-evolving market is critical for brands. Consumers purchase from companies that prove they can stay up to date with changing needs. Not ones that feel like they’re completely stuck in 1986 (or 2024, for that matter)!
Strong brands have 3x the sales volume of weak brands.
A strong brand is a brand that can change with the times, but maintain the values its customers love.
I sat down with our CEO Josh Webber, an expert on building strong brands, to talk about the magic of rebranding. Here are five reasons he said you should consider a brand refresh:
- Changing market dynamics.
- Targeting new audiences.
- Mergers, acquisitions and restructuring.
- Reputation management.
- Outgrowing your brand.
What does this mean for your brand? Let’s dive in and explore!
01. Changing Market Dynamics
It’s important to understand market dynamics when considering a rebrand. Josh elaborated on the power of adjusting your brands to the evolving market.
“Things change. The industry is changing, the world is changing, your competitors are changing, your audience is changing, everything’s changing, technology is changing,” he said. “It is pretty foolish to think that building a brand is a one and done thing. Once you build your brand, it never stops.”
A prime example of a strong brand that has successfully evolved through market changes is Apple.
Apple has gone through multiple refreshes in its lifetime, with each logo looking sleeker and more polished than the last. Apple executives understand the emotional relationship customers have with their product, and tailor their design to meet those needs.
02. Targeting New Audiences
Locking in on your audience is crucial when rebranding. Depending on who you are speaking to, your brand strategy may be wildly different.
“Gen Z is quickly stepping into the consumer base, as well as Gen Alpha, and they value very different things than Millennials. They value different things than Gen X. They certainly value different things from boomers,” Josh noted. “It’s naïve for companies that are selling anything to just keep on positioning their brand in the same way.”
Countless new brands are capitalizing on a new younger buyer base. For example, brands like Patagonia and Tom’s are seeing success because they know Gen Z audiences value companies that are transparent and authentic.
Customers who have an emotional relationship with a brand have 3x higher lifetime value.
This audience awareness can reach further than generational targeting. Brands looking to acquire more market share in specific segments may need to adjust brand strategies that are attractive to new demographics.
Creativity is key, and slight brand pivots can make or break a company’s shot in a new vertical.
03. Mergers, Acquisitions, and Restructuring
Here at Big Red Jelly, we are no stranger to restructuring brands.
Josh detailed his experience with some current Big Red Jelly clients merging two companies into a new brand. He explained that when merging, the finalized brand should be fresh, relevant, and “greater than the sum of its parts.”
82% of customers buy from a brand when they have a high emotional connection, compared to only 38% of those with a low emotional connection.
Merging can prove to be a huge opportunity for growth. When approached thoughtfully, both strengths of the previous companies can be combined to form a powerhouse brand with uncapped potential.
The key is in the presentation–if such drastic changes are poorly communicated with consumers, you can expect sales to suffer as well.
04. Reputation Management
Sometimes a brand just needs a fresh start. Josh related a recent experience he had helping a brand do just that.
“We have a client like that that just signed on with where they had a little bit of a hiccup because a leader at their company made some unwise decisions. [For] PR purposes.. they wanted to rebrand and use this as an opportunity to kind of tear down the, tear out the carpet, right?” Josh recalled. “Scrape off the paint and, refresh everything, and kind of head into 2025 with ‘New Year, New Us’ kind of mentality.”
Rebranding, when done properly, provides an opportunity to rewrite your brand’s story. It can highlight the best pages and tear out others that haven’t served the company well.
Brands can see a 96% increase in conversion rate with emotional brand storytelling efforts.
A brand refresh is a prime opportunity to boost reputation (or clean it up entirely). A new logo or font can provide the necessary space for a brand to refresh without having to start from square one.
05. Outgrowing Your Brand
While not as frequently discussed, outgrowing your brand is a real issue. When speaking with Josh, he recalled Big Red Jelly’s very own brand refresh a few years ago.
The initial brand, concocted by a co-founder, served BRJ well for six years. However, Josh remembers the internal conversations that sparked the decision to elevate the brand image.
“We were growing as a company. We are growing. And we definitely outgrew the brand.”
While it’s easy to grow attached to the initial mascot or logo, holding onto the past could be holding your brand’s potential back. A brand refresh provides a key opportunity to re-evaluate company image, expound strengths, and eliminate weaknesses.
So, what’s next?
Branding is not a one-time thing. Evaluating and re-evaluating ways to optimize your company image is critical to maintain relevance, and it’s important to keep key audiences in mind as you do so.
“[The] environment… is changing, moving, evolving, improving. So should your brand. We are big believers here at Big Red Jelly that building your brand is an ongoing process that never stops.”
Josh Webber, Co-Founder and CEO
At Big Red Jelly, we’re here to help you put your best foot forward. If you’re ready to refresh and renew, our team of experts is ready to help you carry your vision forward. Get in touch with our team to get a free quote today and unlock what we can do for your brand.
Written by Kay Myers.
