This is a very interesting topic to me because a lot of times I think marketers and business owners think that rebranding will save their company or increase sales instantly. In my opinion, rebranding does help a lot if the core identity looks old and it doesn’t represent the brand. In some cases when the product or service we provide is not great then rebranding will not save the brand, it will just make it go out of business faster. Let’s say there is local pizza place called Billy. If Billy rebrands and creates a fresh new identity he will attract new clients. Those new clients will start calling and ordering. If the customer service is bad then more clients will learn about his bad customer service. So the result will be more unsatisfied clients, more complaints and more negative emotions. It means Billy will go out of business faster with rebranding. We can say the same stands for his actual product, pizza. If his pizza is not tasty then more clients will know about it and spread the word to their friends and social media. Having in mind that the service, customer service and other core internal things are perfect then rebrand. I did a research to see what other fellow marketers think of re-branding.
Here’s is when you should rebrand:
“If you are experiencing a decrease in sales and customers, it may be time to rebrand,” said Maria Ross, author of Branding Basics for Small Business: How to Create an Irresistible Brand on Any Budget (2010, Norlights Press) and founder and chief strategist for Red Slice, a branding and marketing consultancy based in Seattle.
“If you see that more of your customers are going to your competition, you have to look at your entire business and also your brand,” she said. “Ask yourself, ‘What is my visual identity saying to people. Am I attracting people or repelling them?’”
Look & Feel
“From a cosmetic point of view, when you look old and your looks don’t reflect what you are or what you deliver, it may be time to rebrand,” said Susan Betts, senior strategy director for New York-based FutureBrand North America. “It is important to match your [look] to who you really are.”
Attracting The Right Customers
“If your company is no longer attracting the customers you want to be attracting, it may be time to rebrand,” said Samantha Hartley, principal consultant for Enlightened Marketing, a marketing consultancy based in Conway, Ark.
“Also, if you want to attract a new kind of target audience. Rebranding is about switching your target audience and the benefits you offer.”
“When companies bring in new management with a different set of values in doing and delivering business, it may also be a good time,” Betts said. “That is a time when companies often want to show their audience that something is new and fresh.”
“Companies often consider rebranding when they have a new philosophy or a changed philosophy,” Betts said. “For example, BP changed from ‘British Petroleum’ to ‘Beyond Petroleum.’ Rebranding can be a good way of bringing something out that people are not currently aware of.
“Also, You may want to rebrand when you establish a new direction for your company or expand what you do,” said Betts. “For example, if you are a bakery and are planning to expand to a café and open a service side, it may be a good time to think about rebranding.”
When NOT to rebrand?
New Management, No Change
“Sometimes when you have new management, it is tempting to leave your own mark,” Betts said. “But if you aren’t changing the purpose, direction or value proposition of the business, you shouldn’t rebrand.”
“Branding is not an over night thing,” Ross said. “You need to give your brand and message time to stick and permeate the marketplace. Don’t rebrand every three to six months. People will get confused.”
“If your problem is not a market problem, but an internal problem, it may not be time to rebrand,” said Hartley. “Rebranding cannot solve internal problems in a company. Rebranding happens once you get your act together.”
The bottom line comes down to not being romantic about our decisions and do what’s best for our brand. You can always do a market research and see what people who bought from you know and think about you and what others that don’t know you think of you. Have in mind that DATA never lies. Think of your story. Does it touch people’s hearts? Is it emotional? Is it memorable? Is it authentic?
If you need help with your rebranding you can always contact IQD.