If you’ve gone through the right process, you’ve likely invested quite a grip into the development of your brand foundation—and for good cause. A solid brand foundation is the base of everything else that follows when it comes to your business, marketing, and branding initiatives. The tone of your content messaging, your look-and-feel, these are components of a brand that become gateways of recognition with your target audiences over time. Brand equity has the potential to become your number one driver of revenue, while opening the door for partnerships and other opportunities built on trust.
The truth is that brand equity and recognition often takes years to build but can be destroyed in a matter of seconds. One ill-informed decision regarding an upcoming campaign, a rebrand, or a pivot in the marketplace can cause previously die-hard brand fans to start looking elsewhere.
But don’t fret—it is possible for brands to maintain their brand equity, even as they evolve and mature over time or respond to changes in the marketplace. Here’s a look at how to not dilute your brand equity:
Conduct Market Research
Before planning a major shift in your brand story or how you present your brand to the public, do your due diligence. Take the time to understand how deeply attached your current customer base is to your offerings, your brand messaging, and your look-and-feel before you move forward with a campaign, rebrand, or other business initiative that may switch things up.
Leave It To The Professionals
There are businesses, such as Mastercard, that understand their forte isn’t branding. When considering a rebrand, Mastercard paired up with a leading brand agency (Pentagram) and the result was stunning and strategic. There are also companies, like Uber, who try to be what they are not. Unlike Mastercard, Uber took their rebrand into their own hands and received widespread backlash when they rolled it out to the public. Moral of the story? Know when it’s time to bring in a strategic marketing and branding partner to help your business evolve.
The magic happens when a brand has a united front across all mediums and platforms—yet, unfortunately, this is rarely the case. Brands that continue to grow their equity understand that consistency is the key to nurturing lasting brand recognition.
Feeling like your brand has been shooting itself in the foot lately? Shoot us an email—we’d love to step in to guide you in a direction that won’t end in brand equity disaster.