Scared your re-brand will flop?

For smaller businesses with less capacity for risk-taking, a rebrand can seem terrifying; a ‘no-go zone’ that’s exclusively for bigger fish. However, rebranding and refreshing aren’t only for the big boys! If you have a smaller business and want it to grow (along with your bottom line) then you need to stay in the game. The marketplace is always changing and evolving and businesses that want to survive need to keep their fists up!

‘’But what if it’s a flop?’’

you ask…. Well, to be honest, it may be a big flop if you close your eyes, pull the trigger and hope for the best. Don’t do that! Knowledge is power. Equip yourself with these guidelines to ensure that you get your re-brand right.

• TIP ONE

Understand the difference between re-branding & refreshing.

Firstly, a brand is not a logo. A brand is the entire spectrum of touch-points between your business and your customers.

It is your identity. It is how the marketplace perceives you and it is the experience that your customers expect from interaction with you. Your brand encompasses your business’ personality, your story and how you connect with your target market.

Branding is more about perception than reality. What the market perceives as truth about your brand may as well be the truth. Even if your product or service stays the same, a different brand perception can be created.

Altering your brand can either involve rebranding or refreshing, which are two very different things. Rebranding occurs when a business aims to establish a new identity or perception in the eyes of its target market. It involves substantial change to the logo and brand image.

Refreshing a brand may also involve an adjustment to the logo or tagline but it is only slight and is still consistent with all other aspects of a brand’s identity. Pepsi refreshes. Their logo has stayed almost the same for decades, only incorporating slight alterations to ensure that their image is as up-to-date as possible for their target market.

• TIP TWO

Consider your target market preferences.

Both rebranding and refreshing need to always incorporate target market preferences.
To stay in the game, you need to solve their problem, not just sell a product.

Analyse your target market preferences and then establish whether your brand reflects them or not. If your brand does not reflect them, then alter your brand to do so through rebranding or refreshing. This aids reconnection with the target market.

Consider Price Waterhouse Coopers that recently underwent a rebrand. A highly distinguished graphic designer, Karoline Cummings (Clear Identity Graphic Design) summed it up quite nicely:

‘’Personally, I like the new PwC logo: its modern, slightly complex design comes across to look quite simple with a colour palette that sits on one side of the wheel (nice way to illustrate
the way they take the complex and make it simple for the client). I also like that they took on board the fact that staff/clients referred to the company as “PwC” and implemented that
formally in the rebrand – shows care, consideration and listening to key stakeholders (which is important for any business to illustrate).’’

• TIP THREE

Failing to plan is planning to fail.

A GPS won’t direct you until you put in an address. Likewise, a business with no direction goes nowhere.

When rebranding or refreshing, you need to have a plan. You need to establish clear objectives and work towards those.

When planning, something that is not to be overlooked is positioning. Consider where you want to position your brand in the marketplace and how you will differentiate it from your competitors. What personality do you want it to take on? Consider Ralph Lauren. They are positioned not only as a quality clothing brand (there are many of those) but also as a very strong status symbol for those that wear it. Their brand personality oozes through every touch-point with their customers. They didn’t get there by accident, they planned it. You should do the same.

• TIP FOUR

Rebrand when the time is right.

The right time for you to rebrand or refresh depends on your customers. When their preferences change, that is the time for your brand to change.

ANZ recently refreshed their brand when, after significant research, they found that their target market wanted to feel that they empathised with people. ANZ updated their tagline and logo to accommodate this.

Something to also consider is when NOT to rebrand or refresh. Rebranding or refreshing for any reason apart from your target market preferences is not a good idea. Each situation is different and you need to understand yours properly before contemplating a change. Consider your current brand equity (positive brand association, personality and reputation). It takes hard work, time, money and consistency to establish a brand personality and reputation.

Don’t throw away brand equity unless you have to. First, analyse your target market preferences. If they haven’t changed but your brand does not reflect them, then alter your brand to do so. If they have changed and your brand does not reflect them, alter your brand to do so. Otherwise, don’t touch it!

In summary, if you are feeling the itch to rebrand or refresh, first go to the market.

• TIP FIVE

Get trendy.
Understand trends and use them to your advantage.

Rebranding to achieve a competitive advantage is something to aim for.

It can put you in a position of attack rather than defence and also help to improve growth and sustainability within your business. How do you do this? You need to follow and understand the trends that are occurring within your industry. You then need to leverage that knowledge by applying those trends when rebranding. It also helps to keep a close eye on your competition (they are likely to be keeping a close eye on you).

• TIP SIX

Be consistent across all touch points.

People like brands that they can understand. They like being able to associate a personality and an expected result to a brand.

Rebranding and refreshing can be very powerful in the hands of the knowledgeable, so go forth and fear not! Understandably then, rebranding can confuse customers. Brands can quickly become unrecognisable and this is dangerous. Effective rebranding minimises risk through consistency. Consider that Bupa. HBA, MBF and Mutual Community were recently rebranded
as Bupa. Confusion was minimised through consistent updating and simultaneous launching of all aspects of the rebrand. From brochures to new membership cards, shop signage and uniforms, everything was updated with consistency in mind. The Bupa logo also incorporated characteristics of the original three logos to aid recognition.

• A Final Word:

Rebranding and refreshing can be very powerful in the hands of the knowledgeable, so go forth and fear not!

• Do you need branding advice you can trust?

For over 12 years, SPEEDY SIGNS consultants have been working closely with companies to create customised branding and signage strategies that expertly translate their company image into signage that makes a lasting impression, and we can do the same for you.

With 23 locations across New Zealand, there is a consultant near you that can give you personal, tailored service and advice that is specific to your business needs. Your very own signage consultant has access to the latest technologies, products and materials that others simply do not have.

Add this to their exceptional branding and design expertise and there are no limits in creating the perfect signage strategy for your company. Whether you have a big branding project or a small branding project, fully developed artwork or none at all, your SPEEDY SIGNS consultant can provide you with a level of service and skill that will exceed your expectations.

With years of experience behind us, you can rest assured that the signage advice provided to you is trustworthy. SPEEDY SIGNS will work with you to create signage that really drives your message home and gives your company the edge that it has been waiting for.

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