by wldfyr | Aug 5, 2022 | Branding, Design Strategy
What do you do when you have a lot of brand equity and you’re going through a merger? You rebrand. That’s what two of our favorite Doylestown financial firms did. McNamara Financial Group and Rosenau Financial decided to join forces and become Paragon Wealth Management. Together we completed a naming session, explored how to merge the two brands and ultimately landed on a brand update that both current clients and ne business will love.
Going through a merger or an acquisition? Send us a note.
by wldfyr | Jan 7, 2022 | Branding, Marketing
For many people, maybe even yourself, the new year symbolizes a chance to grow and evolve as a person. Many people throw away the junk food and join a gym to become a better, healthier, and happier version of themselves. It’s also a great time of year to evolve your brand. Brands, especially those that have been around for a while, often get comfortable with their image and stay away from changes to avoid losing their brands’ originality. However, there is no better way to ensure the longevity of your brand than staying up to date with the world and your audience. Below are 5 tips that will help you know when you need to update your brand, and how to do it the right way (according to ignytebrands.com). You do not need to make huge changes, and a good rebrand gives your brand a fresh look without compromising the integrity of the original mark.
- Follow the numbers- this may seem obvious, but one way to know that it is time to rebrand is that your sales aren’t as high as they used to be. People are obsessed with the ‘next new thing,’ and if they did not create a strong enough relationship with your brand, then they probably moved on. This is the perfect time to rebrand and create a new meaning for your company.
- Your brand has become too complicated- if your brand has become something that is too confusing to understand and maneuver, then it is definitely time to simplify things. People do not want to spend time trying to figure out what your brand stands for.
- You’ve outgrown your brand- If you’ve been in business for more than ten years there is a good chance it has evolved. Let’s say you work for a computer company. That computer company probably has rebranded itself multiple times from the very first computer to the most recent. As the world changes and your company changes, so should your brand.
- You need to clean up the damage of a negative reputation– if your brand has made mistakes in the past that ended up giving your company name a negative connotation, then it is a good time to knock it down and rebuild. For example, the Dixie Chicks are now just referred to as The Chicks after they found out about the negative historical implications of the word dixie.
- You’re trying to connect to a new audience- not all rebrands have to come from a negative place. A lot of the time, companies rebrand themselves so that they can explore new avenues and bring in new customers. If your brand is mainly targeted to senior citizens, a possible rebranding opportunity could come from trying to include younger generations.
Are you deciding whether or not to rebrand based on these tips? If you are, it is important to do it right. Getting leadership buy-in is important so that it can be implemented across the entire company. You also are going to want to define your goals, budget, and timeline. Having clear and concise goals and deadlines will help sharpen your vision for the future of your brand. You want to have a strong strategy, but also have the creative instincts that will help you make innovative decisions. Hiring an expert will help to ensure you keep your brand’s original tone. Just make it stronger and newer!
Have a safe and happy new year!