Most businesses will still not be open if they stick to the original product strategy. Brands and their audiences are constantly evolving, and branding is the perfect way to stay relevant and stay in a competitive landscape.
However, you do not need to hire a beautiful branding agency and spend a million dollars on the new logo.
- Photo of Leon on Unsplash.
This is something we know from experience because we have done product renovations in Jotform.
In this post we share some of our experiences from Brand, and share tips on when to start and where not to start.
How often should you renew a brand?
On the one hand, you don’t want them to look outdated and out of touch with your audience. However, upgrading your brand on a regular basis can be confusing or frustrating for your customers.
Do not renew your product just for the sake of it. There must be a strategy behind the changes you make.
Unfortunately, there is no set time to update your brand, and each brand is unique. Although you can schedule regular updates to see if you need to update, it may not be a good idea to update your brand at random intervals.
Instead, look for signs that indicate the time for change. We will cover those signs later in this post, but first, you need to know what to do with product renewal.
What is involved in product renewal?
Brand renovations for full upgrades are often confusing, but there is a big difference between the two. You need to decide which one is best for your business.
Renewing a brand is more involved than branding, so you want to be sure that the time and effort you put into it is the way you want to take it. Redesign means changing your brand name. Includes in-depth research, design changes, tone and message updates, and more. Because these are big changes, it will take more time to change than to refresh.
Dunkin is a well-known example of a company that has been redesigned to better reflect its products. Dunkin ‘was originally known as Dunkin’ Donut because it was the company’s first offering. As the company shifted its focus to coffee and other breakfast items, the company changed its name to Dunkin and updated its brand.
Product improvement involves updating the look and feel of your product by implementing minor improvements. Normally, this means updating the visual elements of your product, but it can be an improvement of processes, products, services, name, or even culture.
By updating, you remain the main or main truth for your product, you are just doing updates. New can attract your audience and mislead them into seeing what else is new.
Think of it as working from home. Brand Renewal involves painting and applying new paint. It breaks down walls to restore a full name.
For example, logo renewal may include minor improvements to make it look more modern while maintaining the same distinctive design. Renishing the same logo includes changes such as new colors, a new name, and a completely redesigned design.
Remember, if all you need is a paint brush, there is no reason to take a gun to your product. In the next section, we will share signs that it is time to renew rather than give a full name.
3 Signs You need a product renewal
Do you think your company needs product innovation? That may be true if your business meets one of these criteria.
1. Your brand is inconsistent
Is your brand consistent across all platforms and touch points, including your social media, digital, print, video, retail and sales point system? If not, you will need a product update to pull your image together. Consistency is key to a strong brand.
For example, suppose a future customer submits your business card. If you visit the website and Facebook page listed on the card, and do not relate to any of the colors, images and messaging, the prospect may view your business as unreliable and unreliable.
2. Your audience has evolved or expanded
Sometimes it changes your audience or market. Maybe your audience values have changed, or you have expanded to a new territory. In any case, if your product does not match your new audience, now is the time to update. Otherwise, you will be at risk of not being able to attract your audience with your brand.
For example, Starbucks is known for its subtle product improvements designed to resonate with a growing audience around the world. Starbucks brand value has more than tripled worldwide in 10 years, from $ 3.34 billion in 2010 to $ 11.25 billion in 2020. This significant increase in global product prices has, in part, made it a sign that Starbucks is active for new audiences. .
3. Your supplies have changed
Over time, your brand may change its focus or add new ones to the mix. Brands that reflect the current line of current offerings or services need to be updated to make the current offerings more accurate.
At Jotform, this was true for us. We started online form building in 2006. However, after 15 years and 10 million users, our product has evolved and expanded as well as our customers’ awareness.
Ignore signs that it’s time for product renewal and don’t let your business fall behind. Stay in your industry to determine what updates will be made to your product, monitor trends and keep a close eye on competitors. Most importantly, get to know your audience. At the end of the day, they are the ones you want to talk to about your branding strategy.