As we move towards the end of the year it can be a time when you start to consider what changes need to be made. If you’re thinking about undertaking a rebrand but are unsure as to whether you can justify the investment, then hopefully this guest article from workbrands will go some way towards helping you make the right decision as they take a look at the questions you should be asking before you embark on a rebranding journey.
Many companies choose to overhaul their brand periodically, regardless of their circumstances. However, if a rebrand has been carried out effectively in the first instance – with a solid brand strategy put in place – then it should last for a number of years. Like a well-made piece of furniture, a strong brand will stand the test of time.
There are things that can you can do to reinvigorate your brand without changing its visual identity. If you’re happy with your brand on the whole but your corporate communications lack consistency, implementing a brand management system could be the solution. Such systems will align all of your branded marketing collateral ensuring it’s clear, consistent and recognisable, without the need for a costly rebrand.
Let’s take a look at when a brand makeover is really necessary. There are many factors that can necessitate a rebrand, some proactive and some reactive, ranging from strategic goals to macro-environmental factors. Answering yes to one or more of the following questions indicates a rebrand could be a worthwhile investment.
Has your target audience changed? If your brand no longer reflects the needs of your target audience, it will need to be adapted accordingly. This doesn’t necessarily mean changing the actual name or logo. Creating appeal with a new audience can also be achieved through targeted PR or advertising campaigns. In the case of international expansion, when a brand is used across multiple cultures and languages, an update is critical. For example, prior to PwC’s rebrand they had difficulty translating their name PricewaterhouseCoopers across the 154 countries they operate in.
Are you introducing new products or services? When launching a new product or service, a brand overhaul can be effective to spearhead this and overcome any restrictions the current brand presents. For example, in 2012 the College of Law rebranded as the University of Law when it was granted university status, meaning the institution can now compete with other high education institutions within its new market.
Does your brand look dated? Modernisation and new trends are frequent motivations for a brand overhaul. Keeping up with the times shows you are always thinking ahead, moving up in the world, being proactive and innovative. If a brand looks dated compared to other brands in the market, it doesn’t necessarily require a complete redesign. A brand refresh would address this issue without running the risk of losing loyalty and positive brand perceptions by retaining the elements that work well.
Does your brand no longer stand out from the competition? A new brand can provide a more differentiated positioning and reflect your competitive advantage, making it visible to all stakeholders. For example if your current brand communications focus on your capabilities and service features, but client feedback shows your added value offering gives you a competitive edge, a refreshed brand can help communicate this and encapsulate who you are today. As well as reinvigorating the visuals, a strong positioning strategy and communications plan can also provide clarity to a brand’s selling points.
Is your marketplace changing? There are times when transformations in the marketplace require companies to step back, re-evaluate their place in the market and adjust themselves accordingly. These transformations could be anything from new competitors entering the market to the digitalisation of society. The ideal way to address this is to realign the brand with these changes in mind and reveal new directions for growth.
Other triggers
Mergers, acquisitions and demergers. When a merger or acquisition takes place, the new company may develop an entirely new brand or take on the brand of one of the existing companies. Too often this is treated as an afterthought. However, just changing the name is not enough to communicate the strengths of the new brand. The new Bond Dickinson brand does a great job of retaining the heritage and reputation of two well-established law firms, Bond Pearce and Dickinson Dees, whilst also reflecting the new firm’s strengths and its future. In the case of a demerger, the company that has segregated is obliged to develop its own brand.
Bad reputation triggered by negative publicity. If a brand is no longer perceived as trustworthy due to bad publicity, negative perceptions can be dispelled by making the necessary adaptations to the brand identity. The change will need to be fully implemented across all other aspects of the brand (not just the exterior) in order to restore credibility.
Sometimes it’s pure practicality. One of the many reasons for PwC’s rebrand was that the previous 22 letter brand name just wasn’t user friendly. Using the name on printed materials, signage and items such as golf balls proved rather problematic!
A rebrand can, in many ways, contribute to a company’s overall brand success by increasing brand awareness, transforming perceptions, creating stand out in the marketplace, increasing employee engagement and attracting top talent. If you are still undecided about investing in a rebrand, bear in mind that buyers make decisions based on perceptions and can disregard a brand in seconds. All it takes is a confusing brand message or ineffective brand.
Written for us by Nick Farrar, Director of workbrands.
