When is the time right?
Take a look at your brand and answer these questions:
Where do you sit in the competitive ranking of marketing and advertising spending?
There is often a direct correlation to spend and market share. If the following questions are all answered in the affirmative, then you may simply be outspent. The spend is meant to ensure that you do not have an awareness issue. Awareness does not create preference, but no one can buy or use a brand you have never heard of.
How is your brand’s distribution?
It is as simple to access as your competitor’s brand? This idea is tied to availability and, today, availability means browser and social media visibility also. Check your keywords and see if they are effectively communicating your position. Distribution is more complicated since Facebook, Twitter and Google defined communications. It’s no longer just about distribution channels, sales force training and retail end-caps.
Tied to distribution is packaging and differentiation. Does your packaging stand out on the competitive shelf?
How is your pricing?
Pricing is the next milestone in deciding to rebrand if your awareness and spending are acceptable and the distribution and packaging availability are sound. The analytics to this pricing answer is more complicated than it seems on the surface because you could mistake this question as simply asking, “Is my brand cheaper?” Cheaper is simply segmentation for value buyers in your category. Cheaper is not always better. Last time we checked, most market leaders were priced in the top 10% of category pricing.
What is your message?
It needs to own a single-minded meaning, not a short list of attributes. The clutter we referred to earlier on is that short list of attributes. As hard as it may seem, deciding the single most important attribute and forgoing the rest is the first step to success. More is never better. In any rebranding process, when you have multiple values as part of your message it translates into a lack of confidence in your brand. Once you decide on that single-minded idea you need to ensure that it is emotional. Is that emotional message being conveyed in a believable and important way? This is where you start considering a rebrand when the other four questions are answered adequately and yet your brand is still underperforming.
Think about deodorant for a moment. How many of them do you see on the shelf today? How has this changed over the past 25 years? In other words, this category is more crowded than ever. But all claim to eliminate underarm perspiration and unpleasant sweat smells. This is not a brand definition. It is a category minimum value. There is not one deodorant that claims, “Use it and you will sweat like a shower and smell like a rodent.”
The Brand Message
The message needs to reflect a powerfully human emotional need or an evocative emotional desire in the target market. You should consider rebranding if your brand does not perform in this way and instead claims something parochial, technical or as a benefit that is not emotionally charged.
The rebranding process is an important consideration but the ROI must make business sense. Sometimes, the name needs to change. Sometimes, it requires a new logo, a new “brand skinning” to give it permission to be new and different from the previous brand iteration. It is very hard to be seen new, fresh and different when nothing has visually changed.
But different and fresh are not nearly enough. When your goal is to increase your market share and boost your margins, “pretty” and “different” are just the beginnings.
You need a new brand and a message that emotionally says what you promise and why you are important. The logo and mark must convey the same message. Too many brands skip locking the theme with the logo. It is a mistake. We always lock them because your ROI improves when there is no room for mistaking your emotional stake in the ground. Providing that emotional promise is real and conveyed with clarity. Use every drop of real estate you can own to sell that emotional benefit and declare loudly to those it is intended to influence that your brand is absolutely for them.
You need a new brand and a message that emotionally says what you promise and why you are important. The logo and mark must convey the same message.
Rules for Successful Rebranding
The questions that need answering in a successful rebranding effort can only be found in a fertile mix of both current customers and prospects. The research we require is always a projectable mix of qualitative and quantitative market research
What does the current brand mean right now?
Does it create awareness among possible customers? Is it persuasive in terms of creating preference over competitors?
What do current customers attribute to the current brand?
What are the risks in loyalty loss if change occurs in the way they receive the brand? How strong is their affinity to the brand and what is at risk in rebranding? What is the elasticity in meaning if the current brand is altered?
What opportunity exists in equity markers?
Rebranding companies need to be able to actually measure that opportunity and compare it to a return on investment. Think about the internal costs with something as benign as a color palette change. Rebranding should leave as little to chance as possible. Again, brand research ensures fewer missteps.
Where are the rebranding opportunities?
Once again, legitimate rebranding companies must understand the entire competitive landscape. At ACAL Consulting Design Services, our strategists carefully analyze the entire competitive category. We look to understand the brand promises of the competitors. We look at the color palettes and opportunities to differentiate the rebrand. Creatively, we look at the meta messages inherent in color choice. Ideally, you want to choose an uncommon color in the category but you must make sure the color meets the emotional needs of the target audience.
How can the switching triggers uncovered in the research be incorporated in a new logo design and locked reflected in the brand theme?
As a powerhouse of rebranding companies, Stealing Share asks more from your logo than that is simply and beautifully designed. We demand that it express the brand’s value and that the theme speaks clearly to your persuasive advantage.
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