A Netflix Special Edition: Their Branding
With just one letter, Netflix’s logo has distinguished itself among brands in an increasingly concentrated digital world. Not only that, can you hear the distinct sound and visualize the animation when you open the Netflix app? Yes! Now, that’s some great branding.
But Netflix didn’t start like this.
In 1997, Netflix was a DVD rental service that mailed DVDs to their customers’ homes. Evolving, Netflix now leads the charge in video streaming services, altering the way we access and view media.
In response, Netflix updated its branding multiple times, specifically with its logo evolution — a prime example of brand modernization.
Image credit: Company Logos
Characteristics of Modern, Purpose-Driven Brands
Netflix’s services, target audience, and mission have significantly changed since it launched. To preserve innovation and renew its competitive edge, the company embraced the challenge of rebranding. The result? Netflix is the largest streaming service in the world.
How has your business evolved in the past 5, 10, or 15 years?
Brand modernization is the process of refreshing your brand to reflect your business’s growth (what you’ve achieved) and goals (where you want to go). If you’re wondering whether your brand needs a refresh, let’s consider the characteristics of a modern brand:
- Listens to your audience: Does your brand resonate with who your business serves or wants to serve? Your customer’s needs and wants.
- Focuses on purpose: Does your brand reflect who your business is? Your history, mission, and values.
- Drives innovation: Does your brand match where you want your business to go? Your 5, 10, or 20-year goals.
A brand refresh is a big decision and takes time, energy, and budget. However, it’s a business investment that opens the floodgates to tangible growth and opportunities.
Impacts of Outdated Branding
Let’s evaluate the risks outdated branding can have on a business.
1. Professionalism Red Flag
If a business has outdated branding, it portrays signs of being unreliable. When first impressions make a difference in the digital world, your target audience should view the brand as trustworthy in order for the business to stay competitive.
2. Stuck in the Past
If brand modernization is characteristic of innovation, then outdated branding is characteristic of stagnation. This directly correlates with the assumption of antiquated services or products, even if that’s far from the truth.
3. Disconnected, Disjointed
Customer needs have evolved and grown over the years (from small shifts to large changes). If a business’s branding doesn’t resonate with its target audience, it risks being lost among other emerging modern brands.
Influence of Modern Branding
On the flip side, investing in brand modernization can present significant advantages.
1. Say “Hello” to New Markets
What new market or business pivot do you want to do? Or need to do? Whether you want to grow or stay relevant, modern branding is the baseline for a successful shift. With a new market comes new competition and new audiences. Branding allows you to gain awareness and connections in those spaces.
2. A+ Brand Awareness
An essential part of the rebranding process is developing a cohesive brand strategy, and with cohesion comes the ability to be recognized. Modern branding allows your business to effectively build awareness among your current and new markets.
3. Connect Faster AND Stronger
Not only is a modern brand reaching your target audience, but it is also connecting with your customers. They recognize your brand as current, and your business as one that can solve their needs efficiently and effectively. Brand modernization enables your business to stay notable.
4. Stand Out in the Crowd
It’s competitive out there; the market is crowded and overwhelming. This is the same feeling your customers have when searching and evaluating the services and products your business provides. Make it easy for your audience, and give them a brand that stands out and stands above the competition.
5. Attract a Talented Team
Recruiting is a difficult process. Having the right team makes a huge impact on your business’s success, and it starts with attracting the right talent. A modern brand can signify your company’s values, mission, and culture and attract the team you want.
How Does Your Branding Compare?
While you might not be pursuing 300 million subscribers like our good friend Netflix, the opportunities modern branding presents can have a direct impact on your bottom line.
As discussed above, if you invest in a modern brand refresh, your business could:
- Enter new markets
- Get recognized by your audience
- Gain customers faster
- Stand above your competition
- Recruit the best talent
With just those advantages, your brand investment has just paid itself back, plus much, much more.
Pro Tip: Your business is constantly shifting and evolving, and your branding needs to keep up. Investing in branding is an essential part of staying competitive. We recommend allocating a budget towards branding on an annual basis.
“Should I Refresh My Brand?”
Brand modernization is about transparency, reflecting the who and what behind your business.
Does your brand …
- Resonate with your target audience and markets?
- Mirror your business’s distinction among competition?
- Accelerate your business toward innovation?
At Evolve Systems, our branding services emphasize the characteristics of modern branding, equipping your business with the brand to do more and go further. Explore our branding success stories and discover the potential your brand refresh holds!
