Ask
Is Your Brand Aging?

Many times a company may have great products or services, but their marketing or brand becomes dated. Ineffective or worn out branding and marketing are red flags for business disaster.

Consider the following:

Is the company’s visual identity dated?
Keep the company graphic identity fresh. Sometimes small changes (or "tweaks") made over time can be subtle and can hardly be noticed; yet can impair the identity or create inconsistencies. Make sure that the company’s visual identity looks cohesive and current.

Ask
Is the company’s graphic identity looking tired? Are the company’s marketing tools graphically inconsistent and worn out?

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An Aging Primary Market
The aging of consumers can force change. Never take a loyal market for granted or forget to attract new markets. Having a core group of loyal customers can be very positive….as long the brand continues to keep the aging customers and/or attract new customers.

Ask
Are there new potential markets getting overlooked in marketing efforts? What are the needs and changes of aging customers?

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Products or Offerings Not Consistent With Current Times
It is essential that marketing and products stay current. Rather than allowing the competition to replace you…consider replacing yourself with updated products or services. Technology, design, packaging, even terms and conditions - they all are important parts of marketing and branding.

Ask
Is your company keeping ahead of trends or at least staying current in the areas of technology, packaging, products and customer relations?

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Misaligned Marketing Strategies
There are many ways to distribute products and a growing number of marketing vehicles to advertise to your target markets. Stay current with marketing opportunities and find new ways to connect with your customers. The easier your product is to buy for your target market, the better.

Ask
Is a retail outlet the best way to reach a niche market? Do your customers shop online? What are the newest techniques and are they suited to your marketplace?

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Overall, ask yourself how your company’s brand is doing in the above areas. Give your company a grade in each area. Then grade your competition in the same areas. Compare how you are doing in the marketplace and take the needed changes to give your company a brand new life.

For the podcast of this article, download http://www.mcshome.com/podcasts/Agingbrand.mp3.