The motivation to rebrand
Rebranding is a fantastic opportunity to evolve market perception, attract new customers and signify a new stage of business maturity and growth. The motivation for a rebrand can be varied with multiple triggers including:
- New messaging with a revitalised identity
- A need to stay relevant when speaking to a different audience
- Scaling-up for international growth
- Mergers, demergers and acquisitions
- Overcoming negative PR
- Delivering new products or services
- Attracting new talent
- Providing competitive differentiation
"Branding demands commitment; commitment to continual re-invention; striking chords with people to stir their emotions; and commitment to imagination. It is easy to be cynical about such things, much harder to be successful" – Sir Richard Branson
The value of a brand can be staggering. According to Interbrand’s “best global brands 2018 rankings”, Coca-Cola is valued at $66 billion, Mercedes Benz at $48 billion and BMW at $41 billion.
It’s no surprise, therefore, that rebrands can often be high risk, costly and chaotic for the brand and marketing teams that are empowered to deliver them. A couple of examples where rebrands have gone wrong include:
- The Royal Mail rebrand to Consignia. The new name launched in January 2001 at an estimated cost of £1.5M and then a further £1M to rebrand back to Royal Mail a year later (canny-creative.com).
- Tropicana’s Pure Premium packaging rebrand of 2009 resulted in a sales drop of 20% reported to be a loss of $33M in revenue (adage.com).
For a rebrand to be successful, it is critical that several workstreams are executed effectively. These include conducting in-depth market research, establishing the purpose of the re-brand, identifying your mission, values and vision and agreeing on what makes your product or service unique. Furthermore, for a smooth and seamless rebrand, it is vital that you include the right people in the process, generate salience amongst your audience and ensure you have the right technology in place to manage the brand throughout the process, both during and after the launch.
Technologies to deliver an effective rebrand
The reality is, most companies are behind the curve when it comes to using technology to execute a rebrand.
There are two fundamental technology requirements for any rebrand to be successful:
- A simple-to-use, multi-channel Digital Asset Management System
- An enterprise-wide, Brand Portal
DAM will ensure you and the entire brand team can collect, organise and share all brand marketing assets in one place; providing transparency and accessibility at speed. Whether it be logos, images, photography, social playbooks, web, audio or video files and even packaging artwork, a centralised digital asset management service with a high level of user adoption is imperative for any company that takes its brand seriously.
A Brand Portal allows businesses to be more transformational in how they manage their brand online. Rather than being overly reliant on their agencies, it empowers companies to deliver rebrand consistency and a single truth relating to colour pallets, logos, fonts, tone of voice and images across all channels. In effect, a Brand Portal delivers online brand and campaign guidelines that can be updated easily through an accessible content management system.
To see how SOS Alarm effectively managed their rebrand through adopting the right brand management technology, please click here.
If you’d like more information on how BrandMaster has supported clients as diverse as Mercedes Benz, Careem, Helly Hansen and BMW in helping them manage their Brand effectively, please contact us below.