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.

However, as the company grew, they began making a big impact on other businesses. As a big box store with very low prices, they were changing the way consumers shopped and making big waves within the industry. Their tagline, while descriptive, could also be interpreted to mean that they were putting smaller, independently-owned stores out of business.

Walmart Brand Evolution

In 2007, Walmart shifted gears, ditching the Always low prices tagline that they had for nearly two decades. As a store that got its start buying bulk, the tagline initially reflected the company well and suited how they wanted to present themselves.
But as their reputation started to suffer, they adopted a new tagline that was equally descriptive but also communicated a positive, feel-good vibe. They launched their new tagline, Save money. Live better along with a slight logo refresh to positively shift their brand identity.

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.