(updated June 2017)
Chances are your company has seen some changes over the years. From employees to offerings and services and customer base, it’s likely your business model has changed to adapt to the realities of the marketplace. But when is the last time you considered rebranding?
The general arguments against rebranding go as follows:
- The company is going well, why upset the apple cart?
- It’s too expensive and time consuming.
- We don’t need a new logo.
These aren’t good arguments but they are the reasons often cited for shooting down the notion of rebranding. If you’ve ever been present with leadership during a discussion of company branding, chances are you’ve heard one of these gems. What you often won’t hear are the myriad reasons why rebranding not only makes sense but can provide your company a significant boost internally and externally. Here are six good reasons to rebrand.
Time: If it’s been more than 3 to 5 years since you changed the ‘look’ of your presentations, websites, collaterals or logos, it’s time to consider it. Consider these items the ‘clothes’ your company wears. Fashion matters in corporate America as much as it does in rural America. If you look new, fresh and stylish, you are more likely to be considered a relevant player.
Change in Leadership: When a significant change in leadership happens, it’s smart to send a message to the business community and customer base that this represents more to your company than a new talking head. Nothing more effectively represents new direction, messaging and leadership than rebranding.
Economy: Economic realities can be great drivers of rebranding campaigns. Many companies will pull back on marketing when dollars are tight and only consider rebranding when cashflow is strong. This is actually a bad policy if you understand how value-friendly rebranding can be when it’s done strategically.
Product/Services: It doesn’t matter if you are selling sneakers or services. When you present your product or service to the marketplace, if it looks, feels or sounds old and irrelevant, it is. ‘Perception’ is often the reality in marketing and frankly, we rely on that. Rebranding can take existing products and give them new life, it can take new ones and create relevancy in the marketplace prior to the sales cycle.
Competition: Everyone is looking for a competitive edge. There is perhaps nothing that will more effectively provide an immediate edge (in a very public way) than rebranding. In the competitive world of tradeshows, publications and social media, a rebranding campaign can do more to draw attention to your company than new products and offerings.
Your Employees: This is the real hidden win in a rebranding campaign. Believe it or not, your staff cares where they work. Re-branding can be energizing for staff and also a great motivator. To many staff, it’s a sign of growth and strength as well as an indication their company (ie, their job) isn’t going anywhere.
Rebranding is NOT a logo (though many confuse rebranding for just that: a campaign to re-do the corporate logo). No, rebranding is the way you look, the messages you send and the experience your customer enjoys. So, no matter what your business model – whether B2B or B2C – consider all of the reasons rebranding is not only the smart choice, but the right one.