Every office needs the occasional rebrand. Here’s how to do it without falling flat on your face.
No matter your reason for revitalising your brokerage or product name, logo, phrase, design scheme or other such asset, one thing is certain: execute poorly and you will suffer harsh consequences.
The history has been proven repeatedly amid a litany of rebrand debacles that didn’t heed just a few fundamental principles.
With this in mind, CEO of Miller Ingenuity Steve Blue offers these seven keys for effectively performing a rebranding initiative:
1. Get clear on what a brand is.
A brand is not just your logo. A brand is the sum total of the messages, interactions, and experiences a customer has with your product, services, and people.
To a customer, a brand is the promise of an experience. It’s a valuable asset to nurture over time.
2. Maintain control of the rebranding process.
Use a third party guide because it is easy for a re-naming effort to deteriorate into likes/dislikes or what your spouse thinks. Ground your brand in a strategy that recognises not only the brand’s origins, but also its ultimate destination in the current and future marketplace.
Keep an open mind. Small ideas can get bigger and seemingly big ideas can diminish over time. Also identify those equities that cannot change.
3. Understand that a brand has two owners: the marketer owns 50%; the customer owns 100%.
Yes, that’s 150% in total. The marketer produces messages, products and services. Your customer experiences the brand, and in the digital age, they are in ultimate control of their messages they receive. Therefore, check in with customers and, at the very least, include those internal players who have the most customer contact.
The worst thing you can do is to decide all branding issues at the top level and dictate it to customers and your brokers who must deliver the brand experience. You risk a loss of relevancy and buy-in.
4. Your logo, tagline, typography and design should tell a single-minded story.
Every brand is heroic in some way. Its look, feel, and message should tell one story. Think about what your brand fights for and against what odds.
Consider what is at stake for customers in terms of their problems and how you solve those for them. By becoming a hero to your customers, you, in turn, make heroes out of them. That’s truly adding value.
5. Never forget that a brand should always remain fluid.
Some will warn you that changing your brand is a major risk. If it fails, it can be expensive and disruptive. Note Coca Cola’s experience with “New Coke.” However, if you do not violate a brand’s established equities and values, you can still add flexibility into a brand that allows it not to lose relevance.
For example, Tide Detergent is built on consumer’s trust that it gets clothes clean—yet the brand has found multiple fresh expressions of that proposition over the years, even adding benefits to fend off competitors. Therefore, create a brand positioning that is broad enough to be as relevant today as yesterday and flexible enough to be relevant in the future.
6. Never stop supporting and promoting your brand.
Successful brands are a living presence in the marketplace with a tangible relationship with its customers. It’s easy to support a brand in boom times, but much tougher in down times.
However, study after study has shown that brands that are consistently supported during a down cycle, gain greater sales and share when the economy turns up—over those who cut support activities.
7. Be a brand champion.
Having gone through the discipline of crafting or refreshing your brand, appoint a key leader, typically in marketing, to be a brand champion.
Set up brand guidelines and procedures to make sure the identity you have carefully created presents a consistent image and message in marketing communications from business cards to digital media, in sales presentations, in signage, at events and trade shows—wherever the customer will engage with your brand.
In summary, executing a rebrand must be extraordinarily strategic, not violate the company’s cultural roots, be relevant and consistently supported, and place the customer benefit front and centre at all times. It’s all about them.
Related:
Why you could be confusing clients
How to tell your broking brand is not coping
How do clients really see your brand?
Has your brokerage rebranded successfully? Share your thoughts below.
The history has been proven repeatedly amid a litany of rebrand debacles that didn’t heed just a few fundamental principles.
With this in mind, CEO of Miller Ingenuity Steve Blue offers these seven keys for effectively performing a rebranding initiative:
1. Get clear on what a brand is.
A brand is not just your logo. A brand is the sum total of the messages, interactions, and experiences a customer has with your product, services, and people.
To a customer, a brand is the promise of an experience. It’s a valuable asset to nurture over time.
2. Maintain control of the rebranding process.
Use a third party guide because it is easy for a re-naming effort to deteriorate into likes/dislikes or what your spouse thinks. Ground your brand in a strategy that recognises not only the brand’s origins, but also its ultimate destination in the current and future marketplace.
Keep an open mind. Small ideas can get bigger and seemingly big ideas can diminish over time. Also identify those equities that cannot change.
3. Understand that a brand has two owners: the marketer owns 50%; the customer owns 100%.
Yes, that’s 150% in total. The marketer produces messages, products and services. Your customer experiences the brand, and in the digital age, they are in ultimate control of their messages they receive. Therefore, check in with customers and, at the very least, include those internal players who have the most customer contact.
The worst thing you can do is to decide all branding issues at the top level and dictate it to customers and your brokers who must deliver the brand experience. You risk a loss of relevancy and buy-in.
4. Your logo, tagline, typography and design should tell a single-minded story.
Every brand is heroic in some way. Its look, feel, and message should tell one story. Think about what your brand fights for and against what odds.
Consider what is at stake for customers in terms of their problems and how you solve those for them. By becoming a hero to your customers, you, in turn, make heroes out of them. That’s truly adding value.
5. Never forget that a brand should always remain fluid.
Some will warn you that changing your brand is a major risk. If it fails, it can be expensive and disruptive. Note Coca Cola’s experience with “New Coke.” However, if you do not violate a brand’s established equities and values, you can still add flexibility into a brand that allows it not to lose relevance.
For example, Tide Detergent is built on consumer’s trust that it gets clothes clean—yet the brand has found multiple fresh expressions of that proposition over the years, even adding benefits to fend off competitors. Therefore, create a brand positioning that is broad enough to be as relevant today as yesterday and flexible enough to be relevant in the future.
6. Never stop supporting and promoting your brand.
Successful brands are a living presence in the marketplace with a tangible relationship with its customers. It’s easy to support a brand in boom times, but much tougher in down times.
However, study after study has shown that brands that are consistently supported during a down cycle, gain greater sales and share when the economy turns up—over those who cut support activities.
7. Be a brand champion.
Having gone through the discipline of crafting or refreshing your brand, appoint a key leader, typically in marketing, to be a brand champion.
Set up brand guidelines and procedures to make sure the identity you have carefully created presents a consistent image and message in marketing communications from business cards to digital media, in sales presentations, in signage, at events and trade shows—wherever the customer will engage with your brand.
In summary, executing a rebrand must be extraordinarily strategic, not violate the company’s cultural roots, be relevant and consistently supported, and place the customer benefit front and centre at all times. It’s all about them.
Related:
Why you could be confusing clients
How to tell your broking brand is not coping
How do clients really see your brand?
Has your brokerage rebranded successfully? Share your thoughts below.
