There are many good reasons why a company might want to re-brand. Entrepreneurs by their nature see the benefits in upping their game. Constantly raising the bar within their category keeps the competition on edge. They spend more time keeping up or as I like to say, “Following, not leading.”
A common mistake you’ll see all around you is companies who think re-branding is changing their logos and marketing materials. Without a doubt this may indeed happen with are-branding, BUT it is by no means the definition of re-branding. You would want to re-brand if you are looking for positive change and growth for your company and you want to do it from a leadership position. A lot of companies look to branding when sales have fallen flat or growth has hit a wall. They are not happy with the status-quo and they have a keen desire to be stronger and to have a brand that resonates this with their current and potential customers. Sometimes the culture of a company has become tired and there’s a sense of spinning their wheels. Every brand stretches and contracts over time. Perceptions of the brand miss the mark simply because there were no strategies in place to define the brand.
You re-brand because you see an opportunity to take your company to a higher level. You have the confidence and desire to determine where your brand sits today, analyze it and determine where your leadership exists and build on that. Essentially you know what you’d like your brand to stand for – this is your chance to freshen up and build towards that end. I use a pretty extensive process called, “Brand Navigator” to get this done. There is also plenty of information out there to at least get a fix on the direction you should take. I’ve had many cases where a logo change wasn’t needed and this was because the logo was highly recognized and that kind of cache is hard to recover.
Wrong headed thinking believes changing the logo is going to solve the problem and fool the customers into thinking the problems have corrected themselves. This is lipstick on a pig. If you hate the taste of Pepsi – is changing the logo going to make you enjoy it more? Of course not. Same goes for branding.
Be sure that you get your brand right and not build on false hopes at the risk of alienating customers. What ever brand you have it’s a must that you be authentic.