If it’s been awhile
since you’ve adjusted your brand, it may be time. Your brand defines who you
are, distinguishes you from the competition, helps determine how your
organization is perceived in the marketplace, and can help you win or lose new
Data shows that a
strong brand is good for the bottom line. From April 2006 to April 2018, the
top 100 brands outperformed both the S&P 500 and MSCI World Index, growing
172.1% versus 102% and 50.3%, respectively.*
Often, you may need
only a tweak here or there, not need a complete rebranding – but, how can you
determine what, if anything, needs to change? Ask yourself these three
Question 1: Does your
brand celebrate your value?
The way you serve
clients may have evolved over time to better suit their needs. Periodically,
reassess your value proposition to gauge whether it continues to reflect the
value you provide and resonates with your target audience. Make sure your
message is not about the products you provide, but the role you play in filling
client needs, underscoring key points of differentiation. Your brand should
promote your value proposition and the benefits you provide, drive your market
positioning and, ultimately, grow your business.
Question 2: Has your
You should reassess
your brand any time your organization enters a new market, introduces new
products, expands its footprint or acquires another organization. Even if none
of these events has occurred, the world around you is changing (think Robo
Advisors and Millennials, who stand to inherit trillions and transact very
differently from their parents).
In addition, because
communication is increasingly delivered digitally – even for traditional financial
service organizations – you need to ensure your logo and visual brand work well
across platforms. Many financial organizations have simplified their logos to
work well on the smaller scale of digital. American Express and MasterCard are
Question 3: Does your
organization aspire to be more?
When Starbucks first
branded, they sold coffee, tea and spices and that’s what their logo indicated.
Since then, it has expanded its product line extensively and refined its logo
accordingly. Consider your organization’s long-term goals and make sure your
brand messaging, look and feel put you in a good position to take advantage of
Finally, maybe because
it’s been so long since you’ve updated your brand, it has become stale. Have
you delivered your message in the same way so many times the market simply
isn’t hearing you? If your messaging, market or organization has changed, or
you want clients and prospects to look at you differently, it may be time to
refresh your brand.
*Source: BrandZ Top 100 Most Valuable Global Brands, 2018