Your brand is a way in which you can illustrate your company and its ethos to your customers. A solid brand can shout responsibility, reliability, good value or whatever characteristics are important to your audience or customer, while a brand that isn’t well known, or has had negative press in the past can allow good products or service to suffer. Therefore, if you get your brand right you will be doing the former and not the latter.
It is also important to keep in mind that your company and/or brand can differ and change over time. It is very natural for this to occur in the business world, the important thing to do if this happens is making sure your market research can register what effect these changes will have on customers. If you are rebranding then you may be completely in the dark of what your brand now says. Mostly, this research needs to be carried out before a rebrand, as without the customer insights needed, your rebrand could be carrying your company completely the wrong direction.
One way this can be done is with a consumer insight agency, London-based companies can often benefit from these especially, with such a large volume of potential customers, yet not necessarily the information of who’s buying your products. Simply put, a consumer insight agency will be able to work out trends and behaviours, both in current customers and in potential customers of the future. These insights are things that will help show the way in which a product or service can be improved. It can help make links between behaviours of the customer and features of your brand. Therefore, if the brand changes drastically, the features of the brand may too. Thus a consumer insight agency can help show how this change in brand effects customer’s behaviour.
If you haven’t had this sort of outside help at all before, and have not really changed your brand, it is very much still worth doing. If you are going to expand as a business, you need to know more than just the sales figures of your product/service. You need to know what sort of person is buying your product, why specifically people are buying it, when they bought it etc. This allows you to build up customer profiles to help work out how your brand is perceived, and can help signpost where your company should be headed.