Evolving brands — and businesses — thrive. Static brands die. Change for the sake of change is not the prescription. Considered brand evolution is.
An evolving brand stays strong and on target. It keeps pace with the marketplace and with competitors. Most importantly, it stay relevant to changing market needs. Successful entrepreneurs look for opportunity in the marketplace and act on it. Serial entrepreneurs repeat the process, over and over again.
Businesses that fail to evolve and adapt will be left behind by the marketplace and the customers who do business in it. This is especially true in today’s highly competitive markets, where change occurs more frequently, more rapidly and with far less fanfare. A strong, evolving brand stays on strategy, but evolves in ways that keep it fresh, meaningful and top of mind. That same brand, however, never strays too far from its core message to prevent its ‘reason for being’, from being compromised.
If a brand’s original purpose or use has changed drastically, more than an evolution may be called for. Major changes in customer needs or wants, the introduction of new technology and products, or the entry of a new competitor or a unique business model will require a brand re-assessment and a potential change in strategy. Stubborn brands that refuse to acknowledge change can not succeed in the long run. … Lori Martinek