Is it time to change up your branding?
This seemingly simple question is fraught with peril. Changing your organization’s identity when it’s not necessary is a waste of time and money, yet waiting too long can be disastrous.
When should your brand get a refresh or even a complete overhaul? Here are nine red flags that communicators should watch for and address:
1. Your brand mission has evolved.
As market conditions and strategies change, businesses change. Often firms end up in a much different place from where they started and it’s necessary to rework the brand to keep up.
A good example is CVS Caremark. The company was initially a combination of CVS, a regional general store/pharmacy, and Caremark, a pharmacy benefit management firm. Over time, it evolved into a healthcare giant with so many components under one roof that they changed their branding to “CVS Health” and positioned the company around a new purpose: helping people on their path to better health.
This reorientation changed many things, including their decision to discontinue cigarette sales in all stores.
2. Your brand has become constraining.