How can you refresh your brand story in a competitive market?

People have short memories. This makes brand transitions easier than you may think, unless: 1. Your brand has an established reputation. 2. Your brand is inseparable from negative perception. Most brands don't fall into these categories? Why? There are very few brands that are as strong as their leaders think they are. In many cases, brand strength is based on myths that leaders tell themselves. It's easy to reconstruct a myth.

Your employees are brand ambassadors. Ensure they understand and can articulate the new brand story. Hold workshops or training sessions to get everyone on the same page. When you're ready to launch the refreshed brand story, make it a significant event. Create a marketing campaign around the new narrative to generate excitement and interest. Listen to customer feedback and track how your refreshed brand story is being received. Be prepared to make adjustments if necessary.

To do this, you should first study your customers and competitors to see what's working and what's not. Then, figure out why your brand exists and what it believes in, so you can tell a clear and meaningful story. Make sure your story matches the different kinds of customers you have. Look at what other companies are doing and find a way to be different. Decide how your brand should talk and look, like being friendly or serious. Use good storytelling to make your brand's story interesting and easy to remember. You might also want to change how your brand looks, like the logo or colors.

Refreshing your brand story in a competitive market can breathe new life into your brand, capture the attention of your audience, and differentiate you from competitors. steps to refresh your brand story 1.Market Research and Competitive Analysis: Begin by conducting thorough market research to understand current industry trends, customer preferences, and the competitive landscape. 2.Define Your Unique Selling Proposition (USP): Revisit and refine your brand's USP. Identify what makes your brand truly unique and why customers should choose you over competitors. 3.Audience Persona and Insights: Reassess your target audience personas and gather fresh insights about their needs, desires, pain points, and aspirations. 4.Consistency is Key

Identify what sets your brand apart from competitors. What makes your products or services unique? Your brand story should highlight these differentiators. Ensure you have a clear understanding of your target audience's needs, desires, and pain points. Your brand story should resonate with and address their concerns. If your brand's values and mission have evolved, update them accordingly. Make sure they align with the current market landscape and your customers' values. Develop a new brand narrative that tells a compelling story about your brand's journey, purpose, and impact. This story should be authentic and resonate with your target audience emotionally.

Who are the big fish in your market? Can you position yourself as David trying to take down Goliath? People love to root for the underdog and more often than not, your big competitors have weak spots that you can exploit.

I think all visual identity changes should be a mid-pace one. There is a risk of losing your current brand with aggressive change. There has been a lot of debate on Warner Bros logo for example with their quick update. Whereas Fox Television is doing an extreme slow update. You need to attract the eye of your customer but at the same time not lose what has made your brand.

Create content that fits your new story and helps your customers. Make sure your employees understand and talk about your brand's new story. Listen to your customers and make changes based on what they say. When you're ready, start telling your new brand story in different places like your website, social media, and ads. Keep an eye on how well your new story is working and change it if needed. Remember, your brand's story is important, so be honest and true to what your brand really is. Don't forget to keep up with what's happening in the market and be ready to change your story if things change.

Learn from KitKat. In terms of concept, it already has differentiation compared to similar products because of the tagline it uses ("have a break, have a KitKat"), which doesn't focus on common aspects like high-quality chocolate or delicious chocolate. Make sure the brand you create has a tagline like KitKat's. The advantage, in KitKat's case, is that it can adapt "break" to various relevant relaxation activities as times change. In the past, a break might have been synonymous with just socializing with friends, but now taking a break can also involve watching TikTok videos (while, of course, enjoying KitKat). There are certainly many other examples to explore. I hope you get the point from this explanation!