Top 10 Reasons For Rebranding To Grow Your Business

Brands are constantly evolving to ensure they keep abreast of changing needs in the market place. Even some of the greatest brands in the world need rejuvenation.

Brands like Guinness, Coca-Cola, Starbucks and Kellogg’s are iconic, global in their status. Yet when you look at their market leadership over the decades, they have all changed even if it has been in a more evolutionary sense over time, rather then radical overhauls. However some branding does require an extensive change in order for the business to achieve the required regeneration for growth and profitable returns.

 

Guinness Word Device

 

Guinness Logo

 

Revitalisation maintains and celebrates the history and heritage of the brand but shows its target audience (current and future) that you are adaptive to change. Change is necessary to stay relevant to the times in which a brand exists and to ensure its future success.

 

Starbucks Logo Evolution

 

Some of the reasons for rebranding, relaunching and revitalising a brand include the following: 

 

1. Relevance:

Brands need to stay relevant to their target market, to keep up with the times and keep pace with changing customer needs (e.g. services, accessibility, convenience, choice, changing trends, technology). A brand that has become old-fashioned in the eyes of its audience is in danger of stagnation if not already in a state of erosion and loss of market share.

 

2. Competition:

In a fast moving environment with aggressive competition, rebranding may be required to change the offering to the market in order to create a more compelling reason to buy, in the minds of the target audience. Rebranding can be used as a means of blocking or outmanoeuvring competitors or a way of handling increased price competitiveness.

 

3. Globalisation:

Sometimes rebranding is required because of globalisation where the same product sold across multiple markets is inconsistent or different e.g. Marathon’s change to Snickers, Opal Fruits change to Starburst, Jif’s change to Cif. 

 

Starburst Opalfruits Rebrand

 

4. Mergers & Acquisitions:

When two entities combine there are typically two unique audiences left to communicate with. Sometimes this can require a rebrand or relaunch in a way that will appeal to both. In other cases one of the brands may be more dominant requiring more of a revitalisation or refresh with it becoming the sole dominant player. 

 

5. Innovation:

Technology is constantly evolving and the rate of change often exponential. If a brand is technology related e.g. internet, software, hardware and the product offering constantly innovating then a rebrand frequently follows the natural and fast rate of change. Rebranding or revitalisation becomes an outward expression of the companies evolution and ensures the brand’s change hungry customers keep coming back to see “what’s new”.

 

Apple Logo Old And New

 

6. Repositioning:

Taking a brand to a new position is an involved process e.g. from an economy price fighter to a premium position, and invariably requires a rebrand to signal a change in direction, focus, attitude or strategy to its target market. Also again used as a means of blocking or outmanoeuvring competitors or a way of handling increased price competitiveness.

 

7. Rationalisation:

Rebranding can be used to decrease business development and operational costs, or a way of countering declining profitability or consumer confidence. It can also be used where there are complex and sometimes confusing mixes of product portfolios which frequently undermine the brands impact, (along with considerable advertising, branding clutter and media proliferation) all of which causes brand incongruence and audience fragmentation and consequently badly needs consolidation through rebranding to achieve brand impact and strong growth again

 

Mcconnells Old And New Logo

 

8. Outgrowth:

When small companies grow into bigger entities they and/or their products frequently require a rebrand or revitalisation to meet the needs of the bigger business. Typically smaller companies start with more modest brand offering, due to budget restrictions, which are inadequate to meet the needs of a bigger more sophisticated business and a rebrand is required.

 

9. Legal Requirements:

Occasionally legal issues may arise that require a company to make changes to their branding such as copyright issues or bankruptcy e.g. similarities between naming and designs e.g. The Jelly Bean Factory became The Jelly Bean Planet in Ireland to ensure differentiation from the USA brand Jelly Belly.

 

10. Morale & Reputation:

If a company brand has demoralised employees or confused customers then a rebrand may required. A thorough rebrand process will work to unearth the issues that need addressing and could be solved through key changes, including a completely new look and feel to the organisation. A rebrand in this instance can improve a brand’s competitiveness by creating a common sense of purpose and unified identity, building staff morale and pride, as well as a way of attracting new customers, enhancing relationships with existing customers and attracting the best talent to the business.

 

In the case of compromised or damaged reputations rebranding becomes a more pressing requirement. Obvious examples in the current market include certain aspects of the financial sector and banking institutions with damaged reputations which in time will need rebranding. BP is another example and its handling of the Gulf spill which may also require a rebrand in the US the help rebuild its reputation.

 

If you’re considering a rebrand to grow your business and would like to know more, give us a call. We’d love to talk T: +353 1 8322724

Top 10 Tips To Get or Keep Your Brand On Track

1. Understand and know everything you can about your ideal customer. What makes them tick. What they love and what they hate. Have a bulls eye focus to meet their needs. Then tailor your brand to be irresistibly desirable to them. To be their number one product or service of choice.

 

Owl Eyes

 

2. Is your brand distinctive, different and memorable ? Does it really stand out from the crowd or is it just another “me too” blending into the morass of mediocrity ? Does your brand have meaningful individuality with the same values that stand for something important to your target customer ? Stand out within your market and align your brand values to your customer values if you want to get their attention and sustain it.

 

3. Have you reviewed your brand strategy, or action plan to put your brand to work ? This is your brand communications system that provides structure and guidance for all points of contact within your business, both internally and externally with your customers. It needs to be monitored, measured for effectiveness and regularly updated to meet the changing needs of your market. 

 

Curious Frog

 

4. Do you have a brand social media strategy to directly communicate with and exchange opinions and ideas with your customers. Develop your online marketing strategy to communicate with your customers in the channels in which they predominantly use. Deploy your tactics consistently. Your brand’s customers are talking about you even you aren’t participating. Be actively part of the conversation. Influence discussions, give your customers reasons to return to you.

 

Social Media Geek

 

5. Learn from your customers feedback, opinions and preferences and then innovate your brand and develop your new product offerings to meet their changing needs. Drive your NPD creatively to meet their preferences, pleasantly surprise them, keep your offering fresh and relevant if you want loyal customers and raving brand advocates. 

 

6. Be prepared to engaged your brand with your customers in multiple channels both on and offline. Mass marketing is largely a thing of the past. Your brand needs to fluidly and congruently communicate with its market at a much more focussed and personal level, almost one-to-one at times, using parallel tactics on and offline (through traditional and new media) where appropriate.

 

Kitten

 

7. Is your brand identity design fresh and “up-to-date” pertinent to your brands market ? Does it have longevity and reflect your current brand story ? Make sure it looks current and contemporary wherever it sits on the scale of appropriateness and relevance to its industry category and target customer.

 

8. Keep your brand designs looking fresh and relevant be they product or service. Is your brand collateral moving with the times or, better still, a leading innovator in your brand category. Reappraise all your brand design materials critically and objectively e.g. web site, Facebook page, LinkedIn presence, ezines and newsletters, packaging design, brochures, leaflets, vehicle livery, exhibition stands, branded power point presentations, movies, video and showreels. Do they reflect your brand story and deliver both on the aesthetics of your brand design and in their functional effectiveness ? Are they delivering perceived value ?

 

Brand Profile Frog

 

9. Are your customer facing staff enhancing the impression of your brand ? Are they behaving and communicating in a way that consistently supports and amplifies your customer brand experience and brand personality ? They are your brand ambassadors and how they dress, talk and present themselves in person or on the phone has a significant impact (positively or negatively) on your brand. Choose the right people carefully and support them with regular training and incentivize them to enrich your brand promise.

 

10. Never overlook, under resource or under estimate the importance of your brand customer service. Your customer service experience can make or break your brand. Todays customers are highly mobile and sophisticated.They can and do very quickly talk publicly about your brand and their personal experience with it. Ensure you have an outstanding brand customer service strategy for meeting your customers needs at all times. 

 

These brand tips are by no means exhaustive so if you have anything you’d like to add or feel deserves inclusion please don’t hesitate to come back to us. We’d love to hear your thoughts and comments.

All the very best in growing your brands into even more profitable and thriving power houses in the year ahead.