Why a Company Should Invest in a Brand Refresh

by | Nov 7, 2022 | News & Alerts, Insight-Post

What do annual well visits, dental cleanings and car tune-ups have in common?

All act as periodic check-ins that evaluate health, whether it is your own or that of your vehicle. Check-ins are important diagnostic tools that help us assess the health of any situation. The findings allow us to proactively make changes where they are needed, redirecting our course to better serve us.

Periodic check-ins are just as important for your business. A survey conducted by Boston Consulting Group and Google found that, among respondents, 97% say that brand marketing plays an important role in creating awareness and consideration, and 95% say that brand marketing can help a company differentiate itself from competitors. After all, human purchasing behavior is consistent, regardless of whether people are buying for their company or themselves.

So, when was the last time you evaluated the health of your brand?

That was a question we asked ourselves at PKF Texas. While we had been surveying our clients frequently over the years, we felt it was time to take the temperature and stock of our position in the marketplace. As a successful accounting firm with hundreds of clients, we wanted to know with confidence what our clients thought of us and the work we were doing. If we were producing really good work on time and within budget, how valuable could understanding our brand really be?

As it turns out, very valuable; attracting new clients, as well as top talent, starts with an understanding who you are and the intrinsic value that your organization brings to both. Perception is reality, and if you aren’t in control of your perception, know that your customers will create it for you.

First Steps Forward of a Brand Refresh

As we began this journey, we sought to find the answer to that age-old question of “Who am I?” And every organization who embarks on such a journey needs a wise counselor to guide you through it; we found that in marketing strategy firm NextLevel Thinking. Together, we paved a path forward, walking hand-in-hand through a year-long exercise of corporate soul-seeking.

We took a deep dive into the PKF Texas brand through a carefully curated investigation process with the goal of discovering who we are in the marketplace. The steps we took included the following:

  • Performed a comprehensive review of our competitors to understand what they are saying about themselves and how they are positioning themselves in the marketplace.
  • Conducted in-depth interviews with employees at all levels to capture their understanding and appreciation of the organization’s mission and/or vision, as well as their go-to-market approach.
  • Surveyed clients and partners to explore and understand their perspective of the strengths and weaknesses of our organization.
  • Performed a comprehensive review of all our current communication materials, including our website, to understand what we were saying about the firm and how we were trying to position ourselves in the marketplace.

The findings were surprising, even to us. After decades in the business of accounting, we came to learn that our clients didn’t see us as accountants.

They saw us as business advisors.

What did we do with that information? Find out in the next edition.

Contact us if you have any questions.

This article was originally posted on the Houston Business Journal website.


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