{"id":19589,"date":"2023-08-17T09:00:11","date_gmt":"2023-08-17T13:00:11","guid":{"rendered":"https:\/\/hingemarketing.com\/?p=19589"},"modified":"2023-08-17T11:25:28","modified_gmt":"2023-08-17T15:25:28","slug":"brand-management-for-growing-professional-service-firms","status":"publish","type":"post","link":"https:\/\/hingemarketing.com\/blog\/story\/brand-management-for-growing-professional-service-firms","title":{"rendered":"When Is it Time for a Brand Refresh?"},"content":{"rendered":"

Did your professional services firm recently expand its service offering? Were you part of a recent merger? Are you struggling with recruiting and retention? Has your brand become stale? How do you know when it\u2019s time to give your brand some special attention?<\/p>\n

When most people think of a company\u2019s brand, the logo is usually the first thing that comes to mind. However, redeveloping a brand goes beyond simply redesigning an icon or word mark.<\/p>\n

In this blog, I\u2019ll review the different scenarios that can call for a brand refresh or redesign. I\u2019ll also identify several components of effective brand management to consider along the way.<\/p>\n

When is it time to refresh your brand?<\/h2>\n

1.\u00a0When you\u2019ve gone through a merger or acquisition<\/h4>\n

M&A activity continues to be brisk, and if your firm hasn\u2019t been part of a merger or acquisition yet, some of your competitors likely have. Some firms are turning to M&A as an alternative recruiting tool in a competitive labor market, and large-scale complex projects are driving the demand for similarly large and diverse organizations to service their needs. Expanding service portfolios have led to inconsistent messaging and diluted positioning. On the other hand, well-planned, strategic mergers have created powerhouse players in an already crowded playing field. In most cases, the need for a rebrand is obvious (for instance, the merger of two firms with different brands), but sometimes the need to re-position is not as clear cut \u2013 such as the emergence of a new competitive advantage, a significant new service line, or the addition or loss of a highly visible expert.<\/p>\n

2.\u00a0When you\u2019ve changed your firm\u2019s service offerings or target market<\/h4>\n

It\u2019s common for professional services firms to evolve their service offerings as they embrace new audiences or expand their geographic reach. But a change in a firm\u2019s services, markets or even where they operate can dilute a firm\u2019s differentiators. In rare instances, a change in services can be for the better, giving a firm a stronger hand as it positions itself against poorly differentiated competitors.<\/p>\n

3. Recruiting and retaining top talent is a challenge<\/h4>\n

If your top talent is leaving at a faster clip than you’d like and the steady stream of resumes that used to come in has slowed down to a trickle, that’s another reason to consider a brand refresh. Your employer brand is just as important as your overall brand. In fact, our latest research on the topic<\/a> shows that cultural fit is tied with compensation for the most important evaluation criteria for recruits evaluating new career opportunities. If you are planning to refresh your firm’s brand, take that opportunity to update your employer brand, too.<\/p>\n

4.\u00a0It\u2019s long overdue<\/b><\/strong><\/h4>\n

For many professional services firms, brand management<\/a> is an afterthought. Before you know it, you can\u2019t remember the last time you thought about your brand positioning<\/a> and whether you are still headed on the right track. It\u2019s a good idea to re-evaluate your positioning every 4-7 years, using some fresh research to take the pulse of your marketplace. These insights will inform the adjustments you need to make.<\/p>\n

 <\/p>\n

\n

Download the M&A Guide for Professional Services Firms<\/a><\/p>\n<\/div>\n

Next, let\u2019s look at a few of the most critical elements of a successful brand. From brand identity<\/a> to brand promise<\/a> to a firm\u2019s personality, redeveloping a brand is an opportunity to not only differentiate your firm but to turn your brand into something that people can see and experience. You can think of your firm\u2019s brand as the product of its reputation and visibility in the marketplace: so successfully rebuilding a brand requires that you consider the key elementsthat factor into this equation.<\/p>\n

For instance, your brand identity speaks to the visual elements that communicate your brand, such as your tagline and colors. But it\u2019s your name and logo that are perhaps the most memorable.<\/p>\n

What\u2019s in a Name?<\/h2>\n

In the world of professional services, a firm\u2019s name can help it stand out from its competition. A good name is easy to remember and won\u2019t be confused with any of your competitors. In most cases, a name change is likely not required, but if you are a new firm, have changed your positioning, are undergoing a merger, or are recovering from an unfortunate PR situation, a name change might very well be in order. But before you go the great lengths to change your name, consider a new logo or tagline to support your new positioning and personality.<\/p>\n

\n

See also: Hinge’s Brand Refresh Services<\/a><\/p>\n<\/div>\n

Let Go of Your Logo<\/h2>\n

Is your logo up to par? Does it reflect your brand personality? Does it look out-of-date? Is it memorable? Logo redesigns<\/a> signify change, and change can be a scary thing. But your logo is one of the first aspects of your brand that prospects are likely to see and serves as a familiar touchpoint throughout their experience with your firm. Your logo will appear on every piece of marketing collateral you produce, from your website to signage to your proposals. The visual expression of a brand suggests to buyers that a firm is credible, established and different from otherwise similar firms. When conditions warrant a change in your brand, a logo redesign is well worth the effort.<\/p>\n

Brand Positioning<\/h2>\n

What truly makes a brand successful and elevates it above the competition? Strong positioning. Your brand has to stand for something, and in turn, its positioning must accomplish three things:<\/p>\n

    \n
  1. Be different<\/li>\n
  2. Be focused<\/li>\n
  3. Be relevant<\/li>\n<\/ol>\n

    A brand that stays relevant, focused and differentiated will attract buyers\u2019 attention and have a distinct advantage in the marketplace. The problem most professional services firms experience is that they offer a myriad of customized services that are hard to define. A positioning statement<\/a> can help define your marketing messages and the services you offer \u2014 translating and communicating complex information into something more tangible. But by uncovering your firm\u2019s fundamental purpose, and tying each service back to that foundational idea, you create a lasting emotional connection with customers that fuels growth, reputation and visibility.<\/p>\n

    A Final Thought<\/h2>\n

    Is it time to reimagine your brand? That may or may not be an easy question to answer. At the very least, I hope this article has inspired you to look at your firm\u2019s brand with clearer eyes. Certainly, going through the brand refresh profess requires an investment of money and time. But in the right circumstances, it can provide much needed momentum and compel people to think about your firm in a new way.<\/p>\n

    \"\"<\/a>
    Free Resource<\/h6>

    The M&A Guide for Professional Services Firms<\/p>\nDownload Now<\/a><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

    Did your professional services firm recently expand its service offering? Were you part of a recent merger? Are you struggling with recruiting and retention? Has your brand become stale? How do you know when it\u2019s time to give your brand some special attention? When most people think of a company\u2019s brand, the logo is usually…<\/p>\n","protected":false},"author":148,"featured_media":19598,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[1],"tags":[387,389,432],"class_list":["post-19589","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-branding","tag-high_growth","tag-mergers-and-acquisitions"],"acf":[],"yoast_head":"\nWhen Is it Time for a Brand Refresh? - Hinge Marketing<\/title>\n<meta name=\"description\" content=\"In this blog, we'll review the different scenarios that can call for a brand refresh or redesign for your professional services firm.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hingemarketing.com\/blog\/story\/brand-management-for-growing-professional-service-firms\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When Is it Time for a Brand Refresh? 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