Your brand speaks – Ready to hear it?
Nobody uses these terms anymore: Search the Internet, Get a Taxi, Photocopy, Online Videos, Sticky Lip Balm. Instead, we commonly know them as Google, Uber, Xerox, YouTube and Chapstick.
The brands which are verbs for these actions have existed for decades yet are still instantly recognizable by older and younger generations. Brands need to evolve over time yet stay true to their core product philosophy which is the essence of marketing and staying relevant.
Making your mark so that you are instantly identifiable has always been the primary focus of BRANDING. During the 18th and 19th centuries, the era of trademarks sparked. More merchandise implied that consumers had more choices. Companies had to rapidly stand out and take ownership since there were more competitors than before.
The introduction of technologies like social media and the online retail market created a major paradigm shift in businesses. While technology can obviously help a brand stand out, businesses today also confront fierce competition that didn’t exist in the past. Today, consumer ratings on platforms such as Google and Amazon have a substantial influence over how people perceive a brand. Consumers rely on ratings and reviews for product selection, and reputation is more critical than ever.
Pros and Cons of Brands Evolving:
1. LOSING BRAND VISION:
Of all the dangers associated with inconsistent branding, the most obvious problem is confusion turning into chaos. If your customers aren’t sure what you do and what you represent, they can become easily frustrated or confused. If your brand image is constantly changing, your company looks as though it’s having an identity crisis.