Establishing a strong brand identity is vital for any business. But something many business owners fail to consider is the importance of a strategic brand evolution. It’s important to take a zoomed out look at your business every five years or so to determine if your branding is still relevant.
Your brand needs to consistently communicate your business’s narrative. But over the years, a few things happen that can cause your branding to no longer seem relevant to your purpose and/or mission. In many cases, your business has grown, your customers have evolved, the industry has changed, or you’ve introduced new services or products over the course of five or so years.
YOur branding should evolve
Let’s take a look at Walmart. For ninteen years, their tagline was Always low prices. They started out as a large store that bought bulk. Their branding and descriptive tagline accurately reflected who they were and what they were doing.
Walmart Brand Evolution
Benefits of a brand evolution
In Walmart’s case, they were able to maintain their business model and purpose while still effectively managing their reputation. Adopting an emotional tag line that communicates the type of life their customers can attain by choosing their low prices successfully refocused their mission.
In many cases, branding can run stagnant. A strategic evolution will allow for your business to continue to generate new attention, capture new audiences, and communicate growth.
Do you need branding help? Get on our calendar today. Establishing brand identity and to turning your company’s purpose and mission into a consistent story is our speciality.