Bread, butter and branding
How do you know when it’s time to rebrand?
Five questions you need to ask
How often should you rebrand? Every five years? Every 10 years? When you enter new markets? When you realise your identity sucks?
Now the questions and comments below offer pointers only. Brands do have use-by dates, but the trick is working out when their time is up.
Have you changed in a major way since you last rebranded?
You may be a lot bigger...or smaller. Your strategic plan may have taken you in a different direction. You may have added new services and products.
Has the market changed significantly, but you haven’t?
This could involve new entrants or competitors have upped their game. Or it could be the increasing dynamic of the digital market place and changes in clients’ purchasing behaviour.
Do you know what you stand for?
Have you defined your purpose and do your values and the behaviours express what you stand for? When everyone understands and lives these principles, organisations are more cohesive, more productive and more competitive. And customers just get it.
Did you do a poor job of branding/rebranding last time round?
Often the brand strategy is underdone, incomplete or inaccurate, which means the visual expression of the brand bears no relationship to your positioning or how you wish to be perceived. And customer just don't get it.
Are you looking to enter new markets?
This could mean a new offer, new audiences, different messaging and communication channels, and a different set of competitors. The implications of all this assume greater importance when entering international markets.
So what should you do?
Your responses to these questions may make it obvious that a rebrand is necessary or they might raise more questions.
Whatever the case, it would be worth your while to get a brand strategist in to provide an independent, expert assessment of your situation.
That’s the first thing you should do.