Rebrand or not to rebrand?

Rebranding. Everyone talks about it, but only few understand its potential. It seems that it have be devaluated in its meaning. But, after many big firms failed in their attemt to rebrand, it becomes more obvious how important it is – besadies the high costs of the project, if not done right, it can cost you more than just money.

I can think of several times when a client has come for an initial meeting to discuss their rebranding and what they wanted from our agency. When I asked one client in particular what are they rebranding goals, they said that they want to refresh their visuals. Huh. So, you want to spend a lots of time and money just to refresh your visuals, without a clear strategy for business growth?

Wheather you are small or big company, we are sure that you don't have enough money to spend it on somenthing that want pay back your investment. Hence, before you designate a budget, think twice about what does your company really need. Sometimes, a small refreshment of your logo and internet site, can give you new energy.

 

What is rebranding?

Rebranding is a process of creating a new product/service/company image, in order to reposition the brand in the minds of customers, stakeholders and/or competition. Simply put, rebranding is refreshing or changing the brand image on the market so that the brand could keep its value. Although rebrandnig usually includes visual identity changes, the process itself is more than just redesign. Sucesfull rebranding encompasses changes in overall strategy in order to accomplish a desired goals. Some of the elements that it can

• Brand Identity – making of distinguishing brand identity.
• Brand Strategy – the strategy should be routed in the brand's vision. Brand Strategy goal is to ensure a sustainable brand development.
• Brand Equity – good branding sums and then communicates all distinguishing quallitys that make that brand valuable.
• Brand Essence – brand promise concised in one (e.g. Volvo=safety).
• Brand Harmonisation – it is important to ensure that all products in praticular brand range have a consistant naming, visual identity, and positioning, across all media and prefferable across all markets.
• Brand Messaging – determining the critical few messages that makes you stand out in the market.
• Brand Positioning – what you stand for, what attracs people to buy from you etc. Good positioning enables you to easy manipulate with all aspects of marketing mix.
• Internet Site – today, it is an inevitable brand face to the market. Are you sending a wanted message? Is it relevant?

 

When to rebrand?

Recently, we were doing a rebrand for just finished brand that, for starters, didn't manage to fulfil its purpose and for a long known company on the market, whose brand didn't follow the company growth. Therefore, there is no right and wrong time to rebrand, but there are indicators saying that it is rigt time to think about it:

1. constant decrease in sales
2. you use words „we too“ too often
3. you need more than 30 second to explain brand promise
4. your employees/clients cant's articulate what your brand stands for
5. competition growth and lose in market share
6. you are embarrassed to give away yur business card (everyone else have a better one)
7. your corporate colors depend on computer from which you logo.jpg is being send.
8. your internet site has a constant visitors dropoff and you have that strange feeling that everyone else have a better one
9. all your communications are not consistant and in sync with the brand message and brand voice
10. you are about to lounch new product/service or reach out to new market segments
11. your branding does not clearly communicate your mission and your vision
12. when market and competition move forward, leaving you waaaay behind
13. new trends and technologies runs you over (social media, mobile networking, podcasting, RSS, ... )

And once you rebranded and have all the new supercool stuff for your customers, don't just sneak it out through letter-heads and billings. Be proud, make a big news out of it, post it to a group and social media – encourage communication - cause that will help your oldest and most loyal users to adopt the change.

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