Get some instant tax write-offs with a brand redesign
It’s time to create some new branding material for your business to boost sales in the new financial year!
This upcoming fiscal year will be even more successful for your business with MBE.
Don’t underestimate the power of a new business card, some branded flyers with great offers and a brand new look and feel for your business. A brand refresh is a great way to maintain the interest of your existing customers and attract new ones.
The importance of graphic design for your business image.
At MBE, we have a team of graphic designers and printing experts to evolve your brand. Every couple of years, you should assess your brand design and ensure that your corporate image is still relevant to the current market trends and demands.
Here are a few reasons why your brand might need a refresh:
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- Change of ownership
With new owners coming into a business often a new vision and mission follow. This is when most businesses realise that they need a new brand image that is more reflective of their unique purpose. These brand changes are required when businesses merge or are acquired to demonstrate invigoration and a sincere commitment to growth in the future. - Protecting and growing your market share.
The pressure from competitors in the same space with new products or promises they are offering can often be the catalyst to a brand redesign for a business. The brand with the most attention will dominate the market share. Often, showing consistency and stability can be overly conservative and outdated. This is when the business loses the trust of its existing customers. - Target a new market segments
A directional change often happens when a business decides to target a new segment, choose to expand in a new industry or increase its geographical footprint. This is a chance for a business to re-evaluate its brand image and ensure that it is aligned with new long-term growth goals. With new markets come new opportunities and a fresh new look is all you need to make an impressionable entrance. - Launching a new product or service.
A new product launch or a product range expansion can drive a brand’s evolution. A brand has subliminal meanings that might not be a fit for new product additions. A brand refresh is a great way to stay relevant to your growing product range while giving a push to the core product offer. This exercise will also help attract new target audiences who were previously unaware of the brand. - Time for a make-over.
With time all things fade, even brands. If your brand does not evolve with the trends and topical issues in society, it will quickly become out of touch. Older brands tend to disconnect from the younger generation, which will cause them to disappear from the market. Brand erosion is a real issue when brands do not learn to adapt to new technologies and design trends to stay relevant and attract younger target audiences.
- Get a tax benefit while growing your brand.
Re-branding is an exercise that will generate significant returns long-term but is also a great tax write-off opportunity for your business. At the end of the financial year, most businesses look at instant write-offs and often spend this extra money on upgraded equipment, fleet or office expenses. When you invest in your brand, you gain brand equity that will not depreciate and will add more value to your business over time. Don’t just write off but invest in your brand this EOFY.
- Change of ownership
Embarking on a brand redesign journey can be very exciting; however, there are a few things to consider to ensure that you are not throwing away any values and attribute attached to your current brand. Evolution is the key here, especially if the brand is trusted by its existing client base; it is fundamental to retain the critical properties of the brand values and have an inspiring story behind the brand evolution project. Ensuring that the changeover is introduced gradually will prevent the alienation of the existing client base and stakeholders. Getting buy-in from and support is the key to successfully transitioning your brand to a new image for a brighter future. Finally, the story of the rebrand must be related across all your marketing collaterals for the rebrand to be a success.
Contact your local MBE centre today to learn how our graphic design process makes rebranding easy and convenient. MBE is a one-stop-shop for designing and printing your rebranding project cost-effectively.