August 29, 2017 |
If you are contemplating change to improve revenues, attract more sales, or position your company for rapid growth, one tactic is to rebrand. On the surface, deciding to rebrand comes from the hope that a new look will spark new life into an organization. But a new look is just the tip of the iceberg in terms of what a rebrand can do for you, your company, and your brand promise. In this article, we’ll explore some often under-appreciated benefits a rebranding can bring and how you can maximize their impact.
Having spent over 25 years helping build brands for countless sole proprietors, corporations, and nonprofits, I’ve witnessed firsthand how strategic branding delivers both tangible and intangible benefits. Positive outcomes such as a stronger identity, better connection to customers, and pushing firms out in front of the competition are easy to grasp.
But how about the intangibles? Inspiring new habits of thinking and uniting your team around a common vision are just two “bits of goodness” that can come from the rebranding process, and can make immeasurable impacts on your business and your team.
The vast majority of companies don’t jump into a rebrand thinking about these intangible benefits; generally, after reaching some level of success, they have determined that conducting a rebrand is a smart move because they have outgrown their brand, they have changed their focus in terms of what the company offers, or they are merely tired of the logo created by their nephew or niece, and now realize it’s time to step up their game. They want something that will make them look better in the eyes of their customers, competitors, or donors.
Whatever the reason, it’s difficult for a rebranding effort NOT to deliver some sort of value to an organization. With the right professional team, and a lot of solid effort, the following intangible bonus benefits will be yours as well:
BE IN THE KNOW
Being resistant to change and not staying current can be detrimental to a business. If your company was started in 1985 and your identity, marketing materials, and brand strategy have not evolved since then, you are probably looking at a clip art logo in sea foam green and lavender with no reference to who you are, or what it stands for. You may not be fully aware of who your competition is, or who your ripest targets are at this point. Companies who invest in a rebrand are committed to improvement. They want to look under the hood and take a good, honest look at themselves. They also want to dig into the competitive landscape and see what their competition is doing better, and they strategically look at their customers and prospects to better engage with them. Having a brand that is perceived as current makes you relevant in the eyes of your potential customers and competition.
IT’S ALL ABOUT PERCEPTION
Often when organizations have a brand in need of repair, their reputation can suffer. Perception can be everything in certain markets and having a positive perception can mean a broader target market and more sales. The rebranding process helps to change and enhance perception by developing understanding about how targets will relate to you, your company, your culture, and your offerings. The knowledge that comes from this process is powerful.
THE RALLYING CRY
Think Mel Gibson in Braveheart before heading into battle. A rebrand gives employees (and stakeholders) something to get excited about and to fight for. It is a process that the entire organization can focus on, and that doesn’t happen often in the business world–at least not usually in positive terms! Rebranding can improve morale and bring more excitement to a company. It also builds camaraderie and reinvigorates staff about the company and the work you do.
A rebrand is naturally inspiring by aligning organizational values with current and future employees, but it can also lead to further inspiration in a company. Because of the focused process around creating a new identity, brand messaging, and branded materials, employees can be inspired to think in broader terms and to be more creative. Teams become energized to innovate in ways they never before thought possible.
USE THE MAP
Based on a 2015 US Census Report, there are over 27 million businesses in the US. Even if only a portion of them are in your industry, that’s a lot of competition to consider! That fact alone makes having a well-planned path to follow even more critical. A solid brand acts as an organizational roadmap for organizations. It clearly defines your goals, values, and messaging. It defines look and feel. It brings clarity and cohesion for all internal and external stakeholders.
Whether you are a part of a Fortune 500 company, a nonprofit, or the corner mom-and-pop, rebranding brings value in ways that might not be obvious to all, but that value will be felt in the long run. Being relevant, being perceived positively, having passion and inspiration, and a roadmap for success might not be your initial reasons for rebranding an organization, but you will love what these bonus benefits will do for your company once you are on the other side of a well-executed rebranding effort and the positive effects are made obvious.