eBusiness Weekly
Robert Gonye
2019 has seen a number of business organisations in the market, shift colours, logos and change their whole persona in communication with the market.
One will then ask when the right time to re-brand is and why should a business re-brand. Imagine a diet which never changes for decades yet you have new takers (customers), new experiences which are generational. When you’re first starting a business, branding is likely the last thing on your mind. After all, it’s hard to sit down and flip through fonts when you’re still trying to figure out who your customers are (and where to find them).
First, let’s make sure you have the right reasons to re-brand.
The right (and wrong)
reasons to re-brand
Re-brands are complicated, and carry big risks. Ultimately, knowing the risks of re-branding can help you determine whether or not you’re going into a re-brand for the right reasons.
If you’re looking at re-branding your business because sales have been slow or brand awareness efforts don’t seem to be paying off, you might want to reconsider as these issues can potentially be solved by creating a new marketing strategy, or conducting market research to identify the underlying cause. However, if you are considering a re-brand because your business vision, mission and values are no longer reflected in your brand then a re-brand might be the right direction.
What to consider in a re-brand
There are a few other major reasons you might consider a re-brand:
New locations: You might need to refresh your brand if you’re expanding to regional markets who won’t identify with your current logo or, messaging.
Market repositioning: Brands are designed to connect companies with their customers, so if you reposition your business to target a completely new customer profile, whether through product, place, price, or promotion your brand will need to follow suit.
New philosophy: Your business’ mission, vision, and values should govern every decision you make including brand decisions. If your VMV are shifting and pivoting the direction of your business along with them, you’ll need to re-evaluate your brand.
Mergers and acquisitions: When two companies come together, two brands come together, as well. If your company was acquired or joined with another company, you can’t just let both brands battle it out. Finding a new brand that reflects the new entity will prevent confusion and build trust.
Reasons not to re-brand
Boredom: Too often, people consider a re-brand because they’re tired of seeing the same logo and slogan every day. When you’re starting to feel restless with your brand, remember that your customers (who see it much less frequently) might love that signature colour you’ve come to detest.
Covering up a crisis: Whether you’re working against persistent internal issues or fending off bad press, a re-brand is not the answer. Most consumers and employees are smart enough to see right through your re-brand and recognise it for what it is, a cover-up.
Impact and ego: For new managers, a re-brand might seem like the fastest way to make your mark. But most new managers aren’t implementing the kind of institutional change that justifies a re-brand. More often than not, new leadership that insists on a re-brand is doing it more for themselves than the company.
Looking for attention: Maybe sales have been floundering, or perhaps brand awareness efforts aren’t picking up, but either way, jumping into a re-brand is the wrong move. At best, you’ll generate some short-term buzz, without the sales and marketing strategy to sustain it. At worst, you’ll lose whatever brand recognition you had and set back your sales and marketing efforts.
To successfully implement a re-branding strategy, you’ll want to start by identifying whether your brand needs a partial or total re-brand. Next, re-establish your brand’s target market through research to identify what demographic you’re hoping to attract with a re-brand.
Finally, redefine your company’s vision, mission, and values, and use these new definitions as guideposts for your strategy.
Not all re-brands are created equal, so it is important to consider whether a partial or total re-brand is the best option for your business.
Partial vs total re-brand
The more established your business and brand are, the more you have to lose from a re-brand. If your business is more mature, a partial re-brand can help you retain the brand loyalty you’ve built, while refreshing your image to keep up with changing times.
That’s not to say that a partial re-brand can’t be effective. Just look at Dove, a global brand company which redefined its place in the market and has seen massive growth every year since repositioning the brand all while retaining what made Dove nonchalant in the first place.
Think of partial re-brand as an adjustment focused on your visual brand adjustments offerings or markets.
However, if you’re undergoing a complete identity shift and your company’s mission, vision, and values are changing, a total re-brand might be in order. This option is typically suited to situations like mergers, product overhauls, and other similarly foundational shifts.
Here, everything is on the table from your name to your purpose, your market, or your brand identity.
If a partial re-brand is a quick touch-up, the total re-brand is a complete makeover.
Once you’ve determined whether you need a partial or total re-brand, take a look at the steps you’ll want to implement to successfully re-brand. Join us next week as we as we finalise on the elements of branding.
The views given herein are solely for information purposes; they are guidelines and suggestions and are not guaranteed to work in any particular way.
Robert Gonye is a business growth expert and influencer. He writes in his personal capacity. Comments and views: [email protected]
