By Ryan Sinclair, Your CBD Store | SUNMED™

In a fast-paced world where consumer needs and trends are constantly changing, it is more important than ever to keep the look and feel of your franchise brand current.

While consistency is key, even the strongest brands can benefit from a brand refresh as they grow and change. Unlike a complete rebrand, a brand refresh builds upon a brand that is already established and trusted. It can include updates to products, visual elements and messaging — all while maintaining consistency of your core brand identity and promise to your customers. With the right planning, franchises can find ways to rejuvenate their brand without causing disruption or confusing their target audience. Here are five things franchises should consider when planning a brand refresh:

1. The Value of New Product Offerings

As consumer needs change, it is important for brands to react by providing new or updated products that offer additional solutions. Revamping or extending new product offerings is a great way to let your customers know that you are listening and ready to provide the items and services they desire. This response not only builds trust with existing customers, but provides an opportunity to connect with new customers and meet their needs as well.

Consumers, especially our younger generations, are interested in knowing the real story behind the products and services they’re buying.

Predicting trends and anticipating the evolving needs of your customers positions your brand as an industry leader. Not sure where to start? Tap into industry resources, conduct surveys, invest in market research. Then use the findings to respond to consumers by providing what they are craving next.

2. The Power of an Evolving Brand Story

Today’s consumer is concerned with not only the brands that they do business with, but also the personality and the stories that exist behind each brand. As your company grows and changes, your brand story should be evolving as well. As business strategies shift, additional stories emerge that can help keep your brand connected with your audience. By weaving new stories into your current messaging, your brand story can stay relevant without losing consistency or the trust of your customers.

When employees work for a brand with a great culture, they display enthusiasm during every interaction with a customer because they truly care about how the brand is perceived.

Purpose and authenticity are key to reaching and resonating with audiences, so think about the values of your organization and brainstorm ideas and programming to put actions toward what your brand stands for. Consumers, especially our younger generations, are interested in knowing the real story behind the products and services they’re buying.

3. The Benefits of an Aligned Culture

Your brand’s culture drives what customers think and feel when they interact with your brand. When employees work for a brand with a great culture, they display enthusiasm during every interaction with a customer because they truly care about how the brand is perceived. If your culture and brand are mismatched, there’s no better time for a refresh.

Franchisors with a strong, inclusive and collaborative corporate culture will attract more franchise candidates that align with the brand. At Your CBD Store | SUNMED, we’ve aimed to cultivate a dedicated community for our store owners, who in turn serve as the CBD wellness experts.

4. Data and Insights

Industry resources are everywhere, so it is up to brands to employ the latest data and trends into their current strategies for success. Companies that inject big data and analytics into their operation show productivity rates and profitability at a higher rate than those of their competitors.

In 2022, data informs everything that brands do, from understanding the demographics of customers to where marketing budgets should be invested to achieve topline business goals. This paradigm shift was augmented by the pandemic, forcing companies in virtually every industry to re-evaluate the data that makes them tick. In the latter half of 2022, we will continue to see brands reimagine the retail experience, adapting to new customer expectations inside of their locations and online as well. Applied to our industry, COVID has accelerated our expectations surrounding traditional brick-and-mortar stores, pushing us to further perfect the customer experience in-person from start to finish.

Companies that inject big data and analytics into their operation show productivity rates and profitability at a higher rate than those of their competitors.

5. The Advantages of Knowing Your Customer

When brands truly understand their customers, they can create better products, refine their marketing messages and provide experiences that are more impactful. Learning more about what people want when they engage with your brand is an essential ingredient for the success of business growth. Taking time to learn from your customers gives you the power to respond to their actual needs during a brand refresh.

Franchise brands must continuously and strategically review their positioning to stay relevant, top of mind and ahead of their competitors. A brand refresh provides the perfect opportunity to tell your updated brand story and show your customers that your business is evolving and capable of meeting their needs now and well into the future.

Ryan Sinclair is the chief marketing officer for Your CBD Store | SUNMED. 

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