Many companies in a start-up phase generally skimp on the marketing budget and try to develop their own image. It may be successful at first, until growth occurs in the business.
By then, if the original brand is not quite right, it's incredibly expensive to redo. You have to start from scratch with brand awareness, reprint and rebrand the company's collateral and electronic material, and recreate the familiarity that customers previously felt in dealing with you. This is where intangible brand value comes into play, and there is no guarantee your rebrand will succeed.
So why change at all? Well, you may never grow much further in business because you can be perceived as small and a bit amateurish.
Characteristics of a strong brand
- Able to grow with the company
- Is distinctive, to promote awareness and recognition
- Should increase market share combined with marketing activities
- Demonstrates growth without alienating existing business
- Clearly communicate brand values
This is a tall order, but one we know well at Stella Design.
Even worldwide global brands should serve as an inspiration for any company wanting to expand their business. These brands demonstrate daily the importance of awareness and recognition for their service or product. Without the aid of a designer to develop branding to incorporate within marketing, social media or advertising campaigns, these companies would not have the brand recognition or success they do today.
Every business should invest in their image. In the absence of a clearly defined strategy your brand strategy is likely to fall flat. Frankly, it's false economy to not get your image right from the very start.
Have you had to rebrand as your business grew? How do you think your clients perceive your brand? Perception IS reality.