When was the last time you updated the branding for your company?
Considering how many changes have occurred over the past 3 years, it may be time for an update. The pandemic has radically changed the way businesses and consumers make buying decisions and who they do business with.
If you have updated your brand within the last 10 years, you might not need a major overhaul (a “rebrand”). But it is important to keep your branding relevant by tweaking your brand strategy, messaging, website content, and identity graphics.
Branding makes a powerful first impression. So it should accurately convey what your company currently does and its core values.
Having an outdated brand is like sending a fast-talking, high-pressure salesman in a rumpled old-fashioned suit to a meeting with Millennial-age buyers. Most likely, the buyers won’t pay attention to a word he says.
We’ve got six good reasons why this might be the time for a brand refresh.
1. The range of products and services your company offers has changed.
If many of your customers aren’t yet aware of how many types of products your shop can offer, they may currently be taking some of their business elsewhere.
In February, FASTSIGNS International Inc. announced a new “Make Your Statement” brand campaign that included television commercials and a new website. Based on market research, the campaign highlights the range of visual solutions that FASTSIGNS offers, including large-scale exterior signs, interior decor, wayfinding signs, and vehicle and floor graphics. This product mix offered today is far different from when FASTSIGNS was founded 35 years ago.
In the commercial printing realm, Quad Graphics rebranded as “Quad” and Taylor Corporation rebranded as “Taylor” in part because they have evolved into full-service providers of marketing communications services.
2. Your target markets include different groups of customers.
Your customer base changes over time, whether you are diversifying into new markets or trying to attract new generations of buyers who grew up with different attitudes and perspectives. If you started your business 30 to 35 years ago, your existing customer base may be retiring and moving away. Your brand must appeal to younger customers.
If your e-commerce efforts have expanded the geographic territories you reach, your branding should resonate with demographic groups in your expanded coverage area.
We updated our branding from LaManna Alliance to LaManna Consulting Group a few years ago because we had started getting inquiries from a broader mix of clients. We started the Owner’s Corner blog to help current owners of printing businesses grow their businesses and prepare them for sale. We started the Deal Flow Guy brand for more strategic and financial buyers of printing, labeling, and packaging companies.
We hired Anna K. Amendolare of aka✽design to revamp our branding and website.
“Having an on-target brand is imperative to the success of your business. Your brand is more than just your logo and the face of the company,” Anna explains. “The value of your brand lies in the appeal it has to your customers. The established loyalty and trust that your brand has with its customers adds financial value to your company.”
As a result of the brand refresh, whether you discover me through the Owner’s Corner blog, the Deal Flow Guy website, our YouTube channel or LinkedIn Page, Anna notes:
“The core message of Rock LaManna the brand remains consistent: Rock is a person who knows his stuff; Rock has integrity; Rock is invested in you and your successful outcome. People know this about Rock and want to do business with him because of it. That’s the power of a strong brand.”
Anna continues to direct our digital marketing efforts.
3. Your corporate culture has shifted after the pandemic.
Is there a new emphasis on sustainability within your company? Are your diversity, equity and inclusion efforts changing the make-up of your workforce?
If you have been working hard to develop an internal culture that attracts and retains talent, make sure your external branding matches the internal “employee branding” you have been striving to create for today’s workforce.
4. Your company acquired or merged with another company.
Strategic acquisitions typically enable you to add products and services. Updated branding may be required if the company is restructured.
When SGIA (the Specialty Graphic Imaging Association) merged with the Printing Industries of America (PIA), the combined organization rebranded as the Printing United Alliance.
In 2021, VistaPrint rebranded their parent company as Vista because the company had grown through acquisitions to become a full-service design, digital marketing, and print partner to small businesses. VistaPrint will be part of the Vista family of companies, along with VistaCreate, the new name of the online graphic design platform Crello that Vista acquired.
5. The pandemic affected your brand story.
During the pandemic, how did your business adapt? Did you pivot to serving community needs? How can customers and prospects benefit from your company’s resiliency, adaptability, and community service? Maybe it’s time to tweak your brand story.
6. You are planning to sell your company within the next 2 to 3 years.
An updated brand can affect the valuation of your company. Companies with recognizable brands stand out in the marketplace and attract loyal customers.
Having an updated brand also shows potential buyers of your company’s commitment to keeping pace with marketplace changes.
Potential buyers of your company may give you a higher offer if they don’t have to make an additional investment to create a new brand for your company. They can see that your business is already poised for future success.
Refreshing Your Brand Costs Money
It’s a good idea to hire outside experts with experience in brand-building. A professional creative expert will provide the specialized guidance you need along with fresh insights you might not have considered. A brand-refresh project can also consume a lot of valuable staff time.
Branding is one reason that some small, family-run print shops choose to join franchises after the company’s founder retires. Becoming a franchisee provides fast access to a brand that is already nationally known. Younger family members who weren’t involved in the company’s start-up may appreciate the value that comes from being affiliated with a franchise that manages brand updates and refreshes on an ongoing basis. Paying for updated branding is part of the marketing services contract with the franchise.
Even if you choose to remain independent, understanding the principles and strategies of brand development still matters.
Whether your shop prints labels, packaging, business cards, or wide-format graphics, you probably get a considerable amount of business from customers that are refreshing their brands.
Should you consider a brand refresh? Call me at 561-543-2323 and I will be happy to give you further insight based on my own learning experiences with rebranding.