Rebranding is the creation of a new name, slogan, symbol, design or any combination for the purpose of developing a differentiated position for an established brand in the mind of consumers. This may involve drastic changes to the brand’s logo, name, image, marketing strategy, and advertising themes. These changes are typically aimed at the repositioning of the brand/company, sometimes in an attempt to distance itself from certain negative connotations of the previous branding or to move the brand up-market. However the main reason for this is to communicate a new message for a company.
There may not be a prototype for rebranding, but there are lessons around the world on what not to do. Below are 5 rebranding themes to address during our brand’s repositioning.
- Navigating without a plan – Rebranding requires a well thought plan of action geared towards delivering on the objectives of the business plan. It should address the brand in all facets of the company, not just tangible items like the logo.
- Rebranding is much more than redesigning a logo – Companies working to reposition themselves often make superficial changes to their logo with little impact or extreme changes that alienate customers. This approach causes the brand to lack credibility or is simply seen as a superficial facelift
- Research – This helps you to decide the various brand equities that you should keep and those that you should drop and modify. Dismissing existing brand equity when rebranding may alienate established customers, while unnecessary overhauls can irreparably damage a brands perception.
- The myth rebranding costs too much – The process should be seen as an investment that will enable the company to attain its new business objectives which usually include growth of revenue and profits.
- Putting the wrong person in charge of the rebrand -This can cause major setbacks to the flow, of the project, quality of the end result and reuse of funds.
Check out these 10 Rebranding Disasters.
Author: Mercy Njiru