How can you decide if rebranding is right for your business?

When you change your ringtone and when the phone rings, it rarely gets our attention. Coz, our mind is used only to the old ringtone. It's the same when you embark on a rebranding exercise. The new identity doesn’t ring a bell to the customer, my pun be damned. Rebranding is fraught with risks. Very few brands did it and lived to tell their tale. Rebranding should be attempted only, I repeat ONLY, when your initial brand identity was poorly conceived or when your brand identity has become obsolete or when your brand isn't contemporary anymore. Risky still, but you stand a chance. Any other reason, your chances are on the right side of the decimal point! No wonder most second marriages don’t work either!

There is no definitive answer to what is the right reason for rebranding, as different companies may have different goals and challenges. However, a general guideline is that rebranding should be done when the current brand identity no longer reflects the company’s vision, values, products, services, or target market. Rebranding can help a company stay relevant, competitive, and attractive to its customers and stakeholders.

Good advice, but be careful not to underestimate the powerful equity in your existing brand. This could be positive brand sentiment; brand awareness, recall or a valuable entry on the bottom line of the business. Loyal customers will relate to it; new customers may recognise it. Clothing brand, Burberry has rebranded twice in the last 5yrs in an attempt to reposition itself in the minds of its customers. But it still retains the brand authenticity and iconic Knight and Horse icon that is part of its DNA. So, the decision is whether to radically change the external factors e.g. X (Twitter) to move the brand away from negative connotations or to simply refresh the brand image to keep it relevant; dealing with the internal, emotional aspects.

It's not just about the problem you are trying to solve (unless you have 15 different versions of the logo and/or other consistency issues!). Branding isn't a solution in itself, it's a way to affect change. Ask yourself: what do we want to accomplish as an outcome of the rebranding? That will give you precious hints as to how you should run the project, who to involve, and which experts you should seek out and work with. I get far too many enquiries that start with "we did this expensive branding project and it looks great, but nothing has changed." Branding involves a lot of resources internally, not just budget, and it takes some time. You get one shot at this, so be clear about the outcomes you want to achieve.

I've seen both big or small companies require this move when there is negativity attached to existing brand which affects sales, productivity and bottomline. There are also occassions where it's not a major rebrand required but more like a "Brand Refresh" to stop stagnancy in the market place. focus groups, research and other factors need to be considered to not change brand so much its unrecognisable or to not change the exact elements that endeared customers to your brand. Eg. Pringles trying to mess with Mr Head and his moustache. It did not go well with customers. Regardless of the reason, sttategic planning, indepth market research and other considerations is required for proper positioning and to reduce risk of brand rejection.

Set Clear Goals: Define your goals and objectives for rebranding. What do you aim to achieve, and how will you measure success? Setting clear, measurable outcomes will guide your strategy.

The purpose of rebranding is always growth; influencing the perceptions of your company to ignite more sales, create closer customer relationships/loyalty and benefit from a more engaged workforce. Complete a Rebranding Business Case that evaluates the data on your business and brand performance and captures the emotional needs your brand isn't delivering currently. The final question should always be "what happens if we don't rebrand?"

A rebrand should be a natural next step, if it’s feeling forced than you probably need to reflect on whether a rebrand is right for you. Go through your brand workshops, if your brand personality, vision, voice, story, mission, audience are still the same than you would be foolish to pursue a full rebrand. The question would then be, ‘does your visual style refreshing?’ This would be the case if your brand visuals no longer reflect your brand values. Remember your brand is the foundation for all your communications and can even influence business decisions. It’s important to figure out what your problem is that’s making you consider a rebrand. And if all signs point to the need for it, then do it.

Ultimately, rebranding should be a strategic decision based on a thorough analysis of your business's needs, goals, and current market conditions. It's essential to weigh the potential benefits against the costs and potential risks to make an informed choice.

Your rebranding goals should be laser-focused and aligned with broader business objectives. Are you aiming for better brand recognition, increased customer loyalty, or entry into new markets? Each goal demands a unique approach. Develop key performance indicators, such as customer engagement levels or sales metrics, to track the impact. Internally, consider employee satisfaction and cultural alignment as well. Craft a clear communication strategy for stakeholders, ensuring everyone understands the change. Finally, build in periodic assessment points to measure outcomes and adjust your strategy as needed. Remember, rebranding is a continuous process that requires meticulous planning and flexible execution.

Your brand is in many ways your promise to perform. Deliver on who you are and why you matter is a far better investment than a new logo and tag line.

This is the "archeology" stage of a rebranding initiative, digging deep to understand what your customer truly desires and how you stack up against their expectations. You always uncover that unique, distinctive attribute about your product/services that you didn't fully realize was an advantage. For every client we're rebranded, this assessment has identified an unexpected, ownable differentiator or customer need that serves as the opportunity and burning platform for your need to rebrand. This is your "aha" moment when you see how a new customer promise can propel the company forward.

Understanding the gap between your current and aspirational brand attributes is critical. What traits, values, or emotions do you want your brand to evoke? Is it innovation, trust, or perhaps social responsibility? Identify the key messages and visual cues you want to present, and compare them to your current standing. A brand audit and a competitive analysis are indispensable tools at this stage. They help you gauge where you stand in the market, reveal your strengths and weaknesses, and uncover opportunities for differentiation. Use this information to fine-tune your rebranding strategy, ensuring it's not just a facelift but a meaningful evolution.

Analyze Brand Attributes: Conduct a thorough analysis of your current and desired brand attributes. Understand how you want your brand to be perceived and how it differs from the current state.

With every re branding effort it is essential that the key deliverables of the future brand are hitting the high notes for today and tomorrows customer. That the brand promise being offered is clear, relevant and on point.

The budget you should allocate to rebranding all comes down to the size of the problem you are trying to solve and the impact that solving that problem would have on the business. Typical problems such as not attracting the right type of clients/customers, not being taken seriously enough by the marketplace or losing market share to competitors are all problems strategic branding can solve. However they are not simple problems and can take a lot of investment of time as well as financial to solve. However if you work out the the revenue that winning x amount of top quality customers over your expected timeline would bring into the business, then it's worth putting a serious budget aside inline with that.

Budget & timeline are the backbone of your rebranding proposal - it tells the board when they will see impact from the investment. Make sure that the time planning is solid, aligned with key business events. Ensure the budget is logically connected to deliverables (linked to your goals & objectives). This will help you later in negotiations (i.e., what to prioritise & resourcing). Remember that the new brand only brings value if it's implemented - it has little business value if it stays on paper. And because it's a complex change management process as the business doesn't stand still while you implement the new branding, you'll face a lot moving parts to orchestrate - a fun task if you approach it with the right attitude!

Budget and Timeline: Estimate the financial investment and time required for rebranding. Realistic budgeting and timelines will help you manage resources effectively.

The costs can be all over the map from a small enterprise re brand to the worlds largest companies on the world. One thing I have found out through experience is that the rebranding always takes longer and costs more than first estimated. So make sure you believe in the work or simply do not do it.

Budget and timeline are subjective and depend on many aspects that ONLY the concerned Marketing department can answer However, you need to take the following aspects into consideration when it comes to rebranding a job: The budget required is subjective to how big is the brand? how big is the rebranding job? how big is the market they play in? how sensitive is the targeted audience? What media will be used for the announcement of the rebrand? - From a timeline perspective, no straight answer nor do I think any of us here can answer except advising on picking the right time (Marketing of the company would know better) which is usually off-season. Lastly, do mind the level of the current stock on the market as that is the tricky part :)

A promise made and a promise kept must begin with the CEO and then flow like water across every touch point, without any dead-ends.

Understanding the reasons behind your rebranding strategy is essential. If you’re considering a comprehensive rebrand that includes changes to your brand values, narrative, tagline, and other brand assets, it’s critical to have a detailed plan that includes effective communication strategies, Such extensive changes in brand management might result in your current audience feeling detached from your brand, while potential new audiences are not yet engaged. In this scenario, your brand is caught between a rock and a hard place, requiring the full commitment of the entire organization and its stakeholders to successfully navigate this precarious situation.

Commitment and Readiness: Assess your organization's readiness and commitment to the rebranding process. Are you and your team prepared for the journey of change and continuous brand development? By considering these perspectives, you can make an informed decision on whether rebranding is the right choice for your business.

You need to be prepared for the journey ahead and be wiling to embrace change and be comfortable in thinking outside your comfort zone. However you also need to asses the risk of putting it off. Not doing anything can often be more costly than solving the issue head on. How long can you allow that new competitor to take business from you? How long can you leave your branding if it is already looking a bit outdated. How much business are you potentially missing out on by not attracting those dream clients. In terms of ROI (Return On Investment) with rebranding, when done strategically it will often pay for itself many times over. The 'Return on Inaction' however is often far more detrimental to the business.

Most executives are surprised at the time, effort and resources required to rebrand successfully. They also underestimate it's potential. Rebranding is brand-led business transformation. It is the time to make needed changes in your organization to enable you to better support the new brand promise to customer. Because of the depth of evolution, rebranding requires change management principles to enable both employees to see the promise land, how the rebranding impacts their lives, and equips them with the tools and training to deliver that promise. An in-depth change impact analysis will determine your readiness and adaptability to support the brand transformation.

People often think that it's only the big brands out there like Nike or Apple that need to take branding seriously and that it is less relevant for smaller businesses to worry about. In reality these brands have only managed to reach the heights they have reached by knowing their audiences on a forensic level, owning and keeping their positioning in the market and having a consistent identity that gets you recognised. All this comes from investing and continually working on your brand from the very start.

This is an opportunity to ensure that multiple perspectives are taken into account. Depending on the age of your brand, it may have been created with an old, white, male perspective. Don't do that again.

Multi-brand strategy works well in instances where wholesale pivots are too cumbersome and costly. Doing so affords operators flexibilty to test with relatively low costs (when compared to rebranding the parent).

Branding is about differentiation, that collection of ideas, stories, experiences, memories, associations, and images that make your brand a short cut when deciding which product/service to choose. "Re"branding means to start that brand "anew." To give your brand new purpose, personality and possibility. It's akin to the "re"startup of an existing, mature business, all to assure its growth for years to come.

Ah, rebranding: the business world's version of a mid-life crisis. But instead of getting a sports car, you're revamping your logo. Done poorly, it's a disaster. Remember Gap's 2010 logo fiasco? Public backlash forced them to revert in a week—it's like getting a bad tattoo and rushing for removal. On the flip side, consider Old Spice. Once the scent of grandpas, their quirky ads turned them into a millennial favorite. So, if you're contemplating a brand makeover, be strategic and mindful. Aim to be the Old Spice in a sea of Gaps. It's not just about looking different; it's about coming out on the other side with a brand that truly resonates.