Rebranding: Part 2 - Why
Do it at all…?
In the previous article we touched a lot on how best a company can go about their plan to
rebrand. It was highlighted that the strategy must:
i.
Compliment the
current plan,
ii.
It must take into
careful perspective your audience, market and competition,
iii.
Have an inclusive
approach with your team and
iv.
Be sure to manage
every step of the process.
We also touched on what to do when
executing this process. Define how you want to be seen. Organize and reshape
your business based on the promise you made. Communicate your promise. Last,
though not least, be consistent.
Keys
to rebranding
HEC Paris Professor Jean-Noel Kapferer an expert in brand identity and brand management observed the
following 6 characteristics of a
brand:
Physical aspect
– this incorporates things like your logo and colours that come to mind in the eyes of a consumer
·
Brand personality – This is what you stand for and believe. The ethics and values held
high by your brand that consumers identify with
·
Brand relationships – This is how your brand and consumers communicate with
each other.
·
Brand philosophy - This relates your brands
culture, guiding principles and values
·
Customer self-image – This shows how your brands customers view themselves
when using or being identified with your brand.
·
Customer reflection – How customers think and echo with your brand.
Keep these six key characteristics in
mind and delve into your brand.
Why Rebrand?
Now we are going to discuss the big
question, WHY? Why go through the
strain? Why, as it may seem, pull yourself back on business when you were
operating ‘just fine?’ Why take the risk of losing an already established
client base?
These are all relevant questions and for
sure you must have solid answers for them in order to proceed and entertain any
hope of pulling off a successful rebranding campaign. Let us go through some of
the answers so that you may be able to justify even in your businesses core the
necessity to rebrand when it is time.
Answers
to pertinent questions
Companies, like fashion, go through
phases. When an era comes to an end a new one is birthed. With this birth comes
perhaps a new way and outlook. It is therefore necessary to look out for any so
called ‘hardship’ that may come along. I say ‘may’ because during the decision
making to rebrand, you will have perceived all possible outcomes and chosen the
best strategy. The key is to take steps that will make people that matter to
your business the most think of you in the best way possible. The only way is
up from there on.
Question:
I am considering a new market?
Answer:
You surely can rebrand when you are
breaking new ground, or diving into new waters as they say. After having
satisfied and your market and received enough data to encourage brand growth, a
new look could assist new clients notice you. In relation to the above keys,
remember to carry on your identity despite the ‘fresh paint’. Your faithful
‘day ones’ are still part of your brands existence.
Question:
I have added a skill to my portfolio?
Answer:
Having been in business and giving your
clients top notch service is very commendable. They know who you are and what
you without a doubt. Being a master of industry, you have innovated a new
service or product. It is also a good idea to customize your brand and vision
to embrace this new change and expansion in service. Rebranding at this stage
will show your customers not only that you are growing but also assure them
that quality is your core and wish to add even more value to their lives.
You
can rebrand also when you feel the need to take your brand to the next level. A
company that is always looking to get ahead whilst staying fresh is very
attractive to potential clients. It keeps the loyal customers excited and proud
to be associated with you.
Question:
I am struggling to describe my brand?
Answer:
Well, well, well. Isn’t this a
conundrum! You probably have been operational for years and have enjoyed
certain success. As the years went along and competition kept showing up and
new ways of life being discovered, you most likely may have, even
subconsciously, redefined yourself. Having never put this in writing or
graphic, you definitely would struggle to explain what you do now. You would
rebrand at this stage to refine your vision and engage your customers anew with
brand new goals and an updated interface. It is very important to always keep
in your own mind and that of your audience what you are here and what it is
exactly that you do.
This
scenario can also happen when new players step in the scene and are hitting the
ground running. This could make you look outdated which in turn could confuse
your why and your USP (unique selling point). Rebranding can help you clearly
outline and reaffirm your position whilst showing your customers that you are
not one stuck in the past. Visuals are very important to your brand identity.
Employ a professional and experienced graphic designer or agency that can
translate your vision into the right logo and colours, perfect for your
endeavours.
Question:
Can my return on investment (ROI)
improve?
Answer:
One other reason and probably higher up
in the importance chart is the profitability of your brand. Rebranding is a way
to communicate anew your vision to your clients. A fresh new logo, colours and
goals brings forth new advertising ideas and helps your marketing team generate
new and more innovative content. Your investment will, when done right with
everything in cognisance, turn into bigger returns. In this information and
innovation age, customers pay more attention to brands that are continuously growing
and trying new things in line with their overall goal and how all that helps
them.
So when you go out,
just as when you first started out, go big or go home. There is absolutely no
sense in modesty in business. When you hold back, know that you are holding
back on innovation, on progress, on real connections with your audience and
most of all you are missing out on profitability, which is the main reason why
you do what you do.
In
hindsight
So why really can you consider
rebranding? The points above highlighted different stages and circumstances
that inspire rebranding. There are many more situations and answers that can call about a change. The ideas shared above serve to give you an idea of why it
is important to consider rebranding. The last thing we wish for you is to fall out of business and shut up
shop. When you started off, you had a game plan and methodically you put your
pieces in order and established yourself in your niche.
When you rebrand the system is the same.
Develop guidelines for implementing the brand strategy. Communicate this
strategy to your employers, your executive, your audience and yourself.
Rebranding helps your company move to the next stage and unlock new potential.
Rebranding is not a bad idea at all. Go about it the right way and realise some
happy returns with your new coat of shiny colours.
Chalton V. Moyo
Digital Marketer and Blogger. Cheerful and Sporty. Serious about being jovial.