Some believe that once a brand is in place, recognised and got a bit of a reputation (hopefully a good one) that there shouldn’t be any need for changes. But as this article from MarketingProf’s points out, if your company can improve its customer relationships and profitability with a brand re-vamp then it should be seriously considered.
- Reason #1 Competitive Advantage
Don’t assume your brand image is always right – change with the times to reflect the economy you find yourselves in.
- Reason #2 Growth Stimulation
As services and products expand a re-brand can ensure they have a one-company feel while maintaining their individuality – and continual product and service line re-brands will show your company is continuing to grow.
- Reason #3 Long-Term Market Expansion
A brand that was right when you started out as a small business won’t be right once you’re a larger successful one – re-brands can let you reflect where you are now.
- Reason #4 Innovation
This is really for the tech brands among you – innovation and change in this sector is rapid so you have to ensure that your brand keeps up.
What’s involved in a re-brand?
Well, before you get to the actual design stage you have a whole process to go through to identify what the new brand image has to reflect. Another MarketingProf’s article shows the steps that you need to go through in full, which include:
- Step #1 – Get the right people involved
This needs to go beyond just your marketing and PR team and have product/service managers, senior management and anyone from anywhere in the business that you think will add value.
- Step #2 – Establish your new brand identity
Where is the business now and what do you want your new brand image to say about it? The article has 5 key areas it looked at to identify this: core identity, extended identity, brand promise, positioning statement, brand personality. But you can come up with your own!
- Step #3 – Involve the wider business and make sure you’ve got a good story to tell
Make sure that all your employees feel included and a part of the process from the start – after all they’re the ones that will have to deliver on the brand promises your new identity makes. Create interactive experiences to explain the reasons why and let them have an opportunity to put forward ideas.