Introduction

Standing out from the competition in today’s crowded marketplace is crucial than ever. So, how does a company truly stand out from its competition? The answer to this question lies in a powerful concept: Brand identity. This article outlines what brand identity is and explores key components that highlight why it is important for companies to maintain their original brand identity, as well as how the market can help companies maintain their original brand identity in the wake of a market that constantly has new trends emerging. 

What is Brand identity?

Brand identity is a company’s personality. It is more than the logo or the slogan, it is a set of characteristics a company uses to communicate how it wants to be perceived and distinguish itself from the competition. 

Maintain your Brand Identity

With the constant emergence and changing of market trends, it is important,  especially for a well-established company, to stick to their brand identity regardless of the emergence of these new and different trends on the market. This will ensure customer loyalty and a consistent presence of the company on the market. Only if a company’s brand identity is reflective of atrocities such as colonisation, slavery, imperialism, tribalism, racism, sexism, etc, should it undergo brand identity overhaul.

Why maintain Brand Identity? 

I am sure you are asking yourself why a company should maintain its brand identity in the wake of a market that has new trends emerging constantly. Considering facts such as that a company can suffer profit losses and miss out on a new customer base if it does not keep up with new trends in the market,. A company should rather make adjustments to its brand identity to accommodate the new trend(s) in the market than overhaul its brand identity. This is important, especially if the company has established its reputation through its brand identity. Other reasons not to overhaul your brand identity include: 

Brand Recognition: When customers see your logo or hear your slogan, they immediately know what your business represents. Frequent changes to your business’s image and identity can confuse customers and erase how they are related to your business. 

Customer Trust: It can be lost with the change of a business’s brand identity. A consistent brand identity builds trust with customers and a change to the brand identity may make customers question your business’s stability and their trust in your business is eroded.

Marketing Efficiency: Marketing efforts are simplified when brand identity is consistent. Marketing materials are created faster and your brand’s message is communicated effectively because of the clear guidelines for messaging. Brand voice and visual elements are created by a consistent brand identity. 

A possible solution to enable companies to maintain their brand identity

The entrepreneurship sector needs to be re-shaped so that new trends and business dynamics can enter the market and we do not have a scenario where established companies are forced to overhaul their well-established brand identity. This can be achieved by allowing more diverse companies and entrepreneurs to enter the market.  

Conclusion

In entrepreneurship, your passion and love for your brand or company and what it represents constitute success. Companies and entrepreneurs in the age of new market trends emerging constantly have to find a balance between staying true to their brand identity and accommodating new market trends simultaneously.