Evolution of the Brand

THE IMPORTANCE OF STRATEGIC BRAND EVOLUTION

Establishing a strong brand identity is vital for any business. But something that many business owners do not consider is the importance of a strategic evolution of the brand. It is important to take a look at your business every five years to determine if your brand is still relevant.

Your brand needs to constantly communicate your business narrative. But over the years, some things happen that can make your brand 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 have introduced new services or products over the course of approximately five years.

YOUR BRAND MUST EVOLVE

Let's take a look at Walmart. For nineteen years, his motto was always low prices. They started as a big store that bought in bulk. Their brand and descriptive motto accurately reflected who they were and what they were doing.

However, as the company grew, they began to have a great impact on other businesses. As a large box store with very low prices, they were changing the way consumers bought and made big waves within the industry. Their motto, although descriptive, could also be interpreted to mean that they were closing smaller and independently owned stores.

EVOLUTION OF THE WALMART BRAND

In 2007, Walmart changed gears, abandoning the always low price slogan they had for almost two decades. As a store that started buying in bulk, the slogan initially reflected the company well and adapted to how they wanted to present themselves.

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But as their reputation began to suffer, they adopted a new slogan that was equally descriptive but also communicated a positive and welfare environment. They released their new motto, Save money. Live better along with a slight update of the logo to positively change the identity of your brand.

BENEFITS OF A MARK EVOLUTION

In the case of Walmart, they were able to maintain their business model and purpose while effectively managing their reputation. Adopt an emotional slogan that communicates the kind of life that your customers can achieve by choosing their low prices successfully refocused their mission.

In many cases, the brand may be stagnant. A strategic evolution will allow your business to continue generating new attention, attracting new audiences and communicating growth.

Do you need brand help? Enter our calendar today. Establishing brand identity and converting the purpose and mission of your company into a coherent history is our specialty.