A successful rebrand could be the best thing that ever happens to your organization. Dollar for dollar, a rebranding effort represents a significant return on investment…unless you make one of these mistakes.
1. We Don’t Need Research
It’s hard to be unbiassed about your brand. Perhaps not surprisingly, everyone in your organization has their own opinion about its strengths, weaknesses, and market opportunities. Objective research lays the foundation for successful rebrand efforts. The smart way to approach a rebrand is through a comprehensive, organized, methodical, researched-based approach. The methodology should include quantitative and qualitative research on the competitive landscape and brand stakeholders. The adage applies here: garbage in, garbage out. A slap-dash approach to research to check the box will not be effective.
2. No Positioning
The goal is to give your brand a unique position in the marketplace that serves your target audience’s needs. Your research should guide your brand’s position in the marketplace and the consumer’s mind. Don’t throw a new brand into the marketplace with hopes it will land somewhere positive. It’s essential to clearly define these three elements: what your consumers want, your brand’s capabilities, and how your competition positions their brands.
3. Customer Who?
To be successful in the short and long term, brands need to serve more than one type of customer. Define the brand’s customer personas and the value proposition for each. Knowing who your customers are will also hone your marketing strategy and create a strategic plan that invests in reaching higher revenue customers.
4. Skipping Sub-Brands
If you have a product line or subsidiary with different qualities from the parent company brand, you have a sub-brand. Sub-brands can be seen as a messy inconvenience in the rebranding process, but they should not fall short. Sub-brands are a robust tool for diversification and should emulate the overall values and core messages of the parent brand. Create a clear space for your sub-brand in the overall brand architecture to ensure it’s shored up for future growth.
5. Hey Facebook, Look at our new logo!
We live in a world where hundreds of new products are introduced every day. According to a recent study, the food and beverage industry alone introduced an average of 55 new products daily. The relaunch of an existing brand can get lost if it’s not planned and executed with intention.
First, plan the internal launch. Employees are your brand ambassadors and need to get on board to execute the vision. Plus, they will appreciate an exclusive preview before the external launch. During the internal launch, focus on generating excitement — but don’t overlook the importance of communicating clear expectations on how employees are expected to deliver on the new brand promise.
For the most significant impact, the external launch should hit multiple channels simultaneously, including social media, display ads, paid search, traditional print, direct mail, and public relations campaigns. The external launch should also be simultaneous with the second wave of the internal launch. The official switch from the old brand to the new brand includes the transition in day-to-day operations, including email signatures, business cards, presentation templates, estimates, invoices, signage, and any other branded materials.
Are you ready to rebrand, but want to reduce the risk of making a giant mistake? The branding experts at id8 navigate clients through the complex world of rebranding and make sure they don’t stumble on common mistakes. Contact us today, and rest assured your rebrand will be a success!