FAQ - When should I rebrand?

In the conversations I have, I start to observe regular comments and questions that the business community have relating to brand and managing brand. I've decided to tackle a few of these. Private message me if you'd like me to tackle a new one.

FAQ - When should I rebrand?

There's actually a great chapter in my book www.buildgreatbrands.com that talks through "You have a brand problem when..." scenarios. I've found it helpful in assisting organisations to understand when it's time for a tweak and when it's time to overhaul. 

Answer

1 - Rebrand = investment

Rebranding is about investment and it can look different for organisations in different scenarios. Let’s start with three some reasons you should not rebrand:

• We have extra cash in the bank, sounds like a fun project
• Surely, It’s about time…it's been a while
• I feel like something new.

Your brand is powerful and over time it builds up significant good will and awareness. The problem occurs when you realise that your brand is hindering your company from moving forward.

Companies change and evolve without their brand coming along for that journey. Some time later, a mismatch between company and brand becomes clear and this can cause embarrassment, confusion and limited success

Alternatively, the company may grow but the brand doesn't and inconsistency quickly develops. These are signs that it's worth looking at your brand. When someone visits your website and it's different to the brochure which is different to what the receptionist tells them, it produces issues that have a direct impact on sales.

2 - Run an audit

When you notice these kinds of issues, my recommendation is that you run a brand audit to understand all your existing assets, touchpoints and communication pieces in order to ask these questions:

• What is our brand saying about us?
• Where are the inconsistencies?
• Does it align with who we are?
• What is out of date?
• What is the perception of our organisation internally and externally?
• What do we need to do next?

You're looking to guage consistency, tone, and ability to engage your target audience. Brand is an asset and should perform for you. Investment should be treated this way (I.e. how is this investment going to increase the value of our asset?).

The signs usually speak for themselves and there's often a sense that you're losing ROI with your brand (it's not performing for you). It then becomes less about whether to rebrand but instead having the courage to rebrand, because the process though fun requires time, energy and investment in order to get it right. When it's not done right, it can be incredibly de-stabilising and unfulfilling for a company.

3 - The summary

• Once is the ideal. The great brands don't need major overhauls very often - Is your brand great? If not, then your once may be coming. Hopefully you'll never need to do it again (see Coke vs. Pepsi).
  
  
• If your brand is hindering and not helping you grow or your company has pivoted significantly and the brand hasn't evolved with it, then this could be a sign to rebrand, especially if it doesn't correctly engage your market or is out of touch with where you are going.
  
  
• You should audit all your communication pieces and plans every year. The audit should consider effectiveness, tone, consistency, messages used, themes coming and technological advancements that you need to consider
  
  
• Conduct a major brand audit of your brand aesthetic, message and strategy every 2-3 years.

Along the way, you should develop a plan to consistently invest each year into guarding the brand's consistency and improving its ability to perform for you.

Either way, choosing to invest into a strong strategic foundation for your brand will go a long way to building a sustainable asset for the future. My experience has shown me that without that investment of strategy into aligning the brand with who you are and what you stand for, brands have shorter lives because they aren’t articulated for the long term. It may be a bigger project but done once is well worth it at the right time.

John Cinquina
www.redmeetsblue.com.au