7 Instances When A Rebrand Will Pay Off
We’ll keep the USA references to a minimum – there’s enough out there already – but from a marketing perspective, the past 18 months have been a battle of the brands: Republican vs Democrat, Trump vs Clinton; and yes, they are more than just brands, but we can draw a lot of parallels.
In business terms, they wanted to attract new customers, explore new target markets and introduce new products… and just like them, if you want to do that, your business simply can’t afford to stand still.
But is it obvious to your customers and prospects quite how dynamic, forward looking and innovative your company is? Or, at first glance, could your business look and ‘sound’ just the same as it has for some time?
When was the last time you shook things up, gave your customers something new to think about and your competitors a bit of a scare?
Have you considered a rebrand, with the intention of differentiating your business or service in the minds of your target market? Because differentiation – or standing out from the crowd – delivers economic gains: fact!
But there are pitfalls too. Remember those expensive corporate rebrands which ended up a waste of money, or worse, a source of ridicule? The BA tailfins; Royal Mail’s change to ‘Consignia’ (and back again!); the Gap logo which only lasted 6 days (did anyone even notice it?), despite a rebrand costing an estimated $100 million (yes, really!)
So, when would the economics of rebranding work for your business?
- You’re ‘coming of age’… perhaps you’re beginning to out-grow your original brand, or you need to be taken more seriously in a competitive market
- You’re planning a step-change in your business… perhaps a new direction, business expansion or change in thinking, for instance to reflect new ‘green’ or socially responsible initiatives
- You need to differentiate your business from your competitors… it’s surprising how often competing companies have remarkably similar images, they seem to converge over time: check out your competitors’ websites (I wonder how many are blue!)
- You’d like to stay relevant in a changing marketplace… has your brand been left behind; is it starting to look a little dated? This has particular relevance and significant economic implications in markets which respond rapidly to changing trends
- You need to move away from a negative perception… if you have issues with your current image and reputation, then a well-planned and managed rebrand can help distance your business and give you a new start
- You’re planning a rationalisation… rebranding when you rationalise and consolidate gives your new-shape business added impetus and helps counter any potential negative or competitive messages in the marketplace
- You, your colleagues and your company are ‘tired’ of your brand… because if you’re tired of it, you really won’t be doing it – or your business – justice, and your customers will notice.
Whether you chose Brand Evolution: a refresh to bring your current brand bang up to date; or Brand Revolution: a complete new look, feel and approach; remember it’s not just about what your logo looks like…
A great brand rejuvenation influences all aspects of your business, helping you build a great customer experience.
Would you vote for your brand? Or could a refresh push you up the polls?
Explore your options… chat to one of our brand experts today (no strings attached!) Call us on 01256 335622 or email firstname.lastname@example.org.
Until next time, remember… in part, Hillary paid the price for not getting her brand right: don’t risk the same happening to your business!
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