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It isn’t just startups that need to worry about branding

Whatever business sector your company is in, when your business is new, it’s obvious enough these days that it requires a powerful and relevant brand strategy, positioning and brand identity. But what if your company is an older one that existed long before most businesses really knew what ‘strategic brand building’ was, or before it had any commercial need to invest in it’s brand strategy?

So many companies in the latter category can end up becoming a bit stale, in which case, the latest branding techniques used by the newcomers in their respective industries are absolutely still relevant.

Working on your brand now will still bring you benefits

 If your company is a somewhat older one than many of those investing in branding services today, you may have never taken the time to even consider a distinct ‘brand’, so any that exists may have arisen in a haphazard fashion leaving many questions unanswered.

Perhaps your company rose to its current prominence on the basis of one especially successful product or service. If that product or service becomes less relevant in the future, there’s a risk that you will lack the organisational brand strength to extract the maximum potential from future products or services you may launch.

So, don’t be afraid to consider some of the basic questions that may underpin the development or redevelopment of your brand, such as “who is our target audience?” and “how can we best position our brand to appeal to this audience?”

Branding never stays still

 Remember that even when your company has a longstanding reputation and track record, the reality of the marketplace is that prospective customers want to know what you have done lately, and what you can do for them right now. The most suitable branding can really help with this, connecting the best of what your brand has stood for in the past with the current real-world relevance of what you have to offer.

Indeed, striking the right balance between old and new, and selecting the most suitable approaches from these two categories, is critical to truly impactful branding. Ask yourself: what made your brand great in the past, and what continues to make it great today?

When your company has overall brand strength, it will no longer be hostage to the success or failure of one or two signature services or products – and that’s something of real benefit to both the most recent and longest-established businesses.

 

 

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