Rebranding Ruins: How To Avoid Disaster
When companies decide to begin a rebranding campaign, it can go one of two ways. The company will either succeed or they will fail and when they fail, it goes down hard. For example, think back to a few months ago when RadioShack was in the news – they attempted to rebrand themselves as ‘The Shack’ and that didn’t seem to catch on with consumers. Reasons as to why this never caught on can vary, whether consumers dislike the name or the business has poor structure with outdated stores. At any rate, when a company starts their rebranding journey there are a few things to keep in mind to ensure that it will go smoothly.
Timing Is Everything
Before your company rolls out the new branding initiative, the old adage ‘timing is everything‘ bears some significance. For instance, say your business is a retail store and you’re getting ready to launch new products – do you wait to start the rebranding process before or after the new products hits stores? If the new products are innovative and glorious, you may want to initiate the rebranding campaign before the product launches in order to capitalize on the hype. However, if you forecast the product to be less-than-exciting, you may want to wait until the product becomes available to consumers. While this situation is only an example, you must find the right time to roll out the campaign by carefully evaluating your market, the needs of your consumers and have a backup plan in the event things don’t go as planned.
Rebranding isn’t only the job of your marketing team, it’s something that must be reinforced and backed by those higher in the company like the executive team. It’s important to have everyone on board so the rebranding initiative can be backed by people like the CEO, who can instill a feeling of trust with those within the company. If the whole campaign is wishy-washy, things won’t get done in a timely manner and the company will suffer as a whole.
Know The Reason
A company doesn’t decide to rebrand itself for no reason. Many people know the phrase ,’if it’s not broken, why fix it?’ More than likely, there are reasons as to why you are rebranding. Knowing those reasons is a crucial part of the process for you and your whole company. During the process, it’s important to be as transparent as possible in order to establish a higher sense of credibility.
If your company needs an effective and creative strategy, let the best branding company in Philadelphia steer you in the right direction!