The rebranding approach
The most effective process for rebranding
Rebranding your company or product
Rebranding is a science and the stakes are so high that it requires a specialist to navigate the obstacles, barriers and opportunities that this important business initiative requires. That means there are many considerations.
Is brand repair part of rebranding?
Sometimes, the process involves brand repair. That means being able to look at your brand clearly and fix permissions that limit acceptance or create barriers. It is very difficult to do on your own because often the problem the prospect sees as a barrier is untrue. But that doesn’t matter. It is a problem if it’s believed. Being true does not fix the problem.
It is for that reason that many brands are hesitant to address it. They believe simply educating target audiences on the issue will fix the problem. In addition, an emotional attachment to your brand is why you need an unbiased approach. Brand repair is about dealing with what is, not what should be. Stealing Share approaches this with a lack of sentimentality. The brand must be viewed in a fresh and meaningful light to the people you need to influence.
The process is difficult because you have to erase old meaning as well as create a new one.
- What is salvageable and what needs to be eliminated?
- What are the equities in the old meaning?
- Why are target audiences rejecting you?
- Is the brand salvageable or do you need to create a new one?
- Can a flanker brand aid the repair?
- What do you specifically own in the minds of target audiences?
- What is it about your brand that audiences find objectionable?
- Are there market trends that are pushing you into a bad place?
- Does the brand bring up bad associations?
- What is the ROI on fixing it?
- What are the emotional elements that can be saved?
Ask why you are considering a rebrand in the first place
If repair is not an issue, the considerations are different. Something has either gone awry or, more often, your business results are not meeting expectations. A disappointing business quarter, loss of market share, changes in competitive mix, a new product or service, acquisition or a buy-out are just a few of the events that require such an effort. There must be a sound business reason because there must an important return on investment.
What must be considered
When a company rebrands, much will be changed and/or updated. Everything needs to be examined. Research must be conducted before any rebranding effort. You might need to consider a new logo and a new mark, signage changes across your entire corporate culture, a new color palate, new signature system, and new internal and external presentation materials. You might also need brand training throughout your organization, sales training to keep the sales messages in lock step with the message, and changes in your brand communications along with both product and brand advertising. Also consider that a successful rebranding effort demands change of a culture. You, as a company, must change as much as your messaging and the symbols of that messaging do.
Stealing Share looks critically at your needs and makes sure the upside of the process justifies the time and expense.
Any consultant that tells you this is just about a new name, message and logo is no expert. It’s much more than that. To do it correctly, we have a process that helps us determine the loose ends to tie up to ensure success.