Re-branding – Top 5 Mistakes to Avoid

So your business made it off the ground, you’re generating revenue, but you’ve hit a roadblock with your growth and revenue. Perhaps it’s too niche or misleading, or tied to a geographic location – what to do? Re-branding your company requires careful consideration and planning in order to achieve a successful outcome and take your business to the next level. But this also involves a lot of risks.

Be aware of all the risks of re-branding before you start the process. As a marketer I know how quickly you can get caught up in design and other issues, just don’t let it get you! Re-branding is more than changing a logo or adding bolder images. It is also about researching and understanding the consumer, analyzing changes in target markets when exploring opportunities for brand expansion and repositioning.

Yet, even when forewarned, many still make some common mistakes. Here are the top 5 mistakes to avoid:

  1. Re-branding without research
    Put money and time into researching the consumer’s perspective on the product or service. What do (don’t) they like, what attracts them etc.
  2. Wrong assumption “A brand is just a logo”
    Your brand is more that just a logo. A brand integrates all aspects of your business; everything from look,  feel, culture, tone, voice, product quality, customer care…  leading to consumer perception.
  3. Getting started without a plan
    Make sure you have a plan from start to finish. From research and analysis to setting up time frames,  to identifying metrics for assessing results (ROI).
  4. Not leveraging existing brand equity
    A company with high brand equity may not need to undergo a big transformation… or rather, shouldn’t need to go through a huge transformation. When you have a strong brand equity… tread softly and lightly. However you do it, make sure the current brand equity stays strong!
  5. Getting buy in internally prior to external.
    Getting employees to understand the reason and goal of re-branding is very important because they will have to sell it to the consumers. This is equally more important in lieu of social media. Internal branding is increasingly important as each employee is a brand ambassador. In short, if they don’t believe it, neither will the consumer.

Going through a re-branding is and can be very challenging. It’s not so much setting the goal, but reaching it successfully. Having gone through a major re-branding I can only say that walking the talk is monumentally important. The re-branding that I was involved in failed miserably on convincing internal people that the change was necessary. The bigger the company, the more time is needed to make sure everyone is informed and all understand why there needs to be a change.  If they understand, they will be able to explain it to the consumer. If you believe it, you will show it!

A successful re-branding requires a vision that inspires consumers, investors and others to see the company in a new light. We can learn from other companies who have gone through re-branding. This could be a successful re-brand or even a failure, if we learn from them we will not make the same mistake. Check out the 10 most successful re-branding campaigns ever. This article not only shows how they did it, it also let us know the lesson to be learned. Very interesting!

The Retail Challenge: Getting Shoppers’ Attention!

When we go shopping for anything from food, clothes or cars, we have a lot of choices, at times too many choices. Do we choose a brand that’s familiar to us or do we take a chance with a new one? How do we choose from all these different brands on the retail shelf… and what do they do to set themselves a part from the rest?

With the many choices we have as consumers it’s easy to be overwhelmed –  throw in the towel on our decision making process and buy the already known rather than trying something new! But even if we want to try a new product, there are so many out there, we often don’t even know where to begin. Too many of POP materials and communications at the retail level put out by brand makers talk about the feature of their product and totally forget to talk to the  benefits – in short, what’s in it for the consumer. Benefit-driven communications is the best way to speak to consumers. Is the brand more efficient?  Provide time-saving or cost-saving?

In-store retail merchandising and retail point-of-sale (POS) mechanisms are crucial to make a connection with the consumer to drive both impulse and trial sales. To capture the consumer’s wandering eye, brands and retailers need to constant create new and innovative point-of-purchase (POP) to grab attention where and when in counts the most:  in-store. Without these attention-getting on-shelf or in-store communication pieces, many consumers often overlook new products or specials and consequently buy familiar and already trusted brands.

Brand Marketers want to make sure that their brand doesn’t get lost in all the in-store option available to consumers. Here’s a quick check list to do just that:

  1. Packaging: This is the most important brand POP. It is the piece that will keep on working where ever it is: on-shelf, in-store, in the pantry, in the home. It is all about originality! The brand package needs to carry the brand character, personality and voice and more importantly speak to its benefits.
  2. POP: Using unique visual elements and colours that speak to the brand in order to draw attention  to the product provides at the retail level the necessary impact. Creating effective POP on-shelf that speaks to consumers will entice them to make the change. Using mobiles, shelf-talkers, on-shelf coupon generators, on-shelf digital messaging are only a few tactics that are available.
  3. End Aisle Displays/ Check Out Displays: Using these in-store tactics are an effective way of making brands stand out. While consumers wait in line or turn the aisle, the “one brand” shelving strategy definitely gets the desired effect. Couple this impact with the right benefit-driven message and brands will be sure to generate the much sought after  impulse purchase.
  4. Floor  Graphics and Floor Stands: An effective and creative way to drive consumers right to products on-shelf is using floor graphics leading the way! Of course colourful floor stands filled with products are also effective and provide a solid “real-estate” space, often away from the competitive products.

Effective POP helps snap consumers out of their routine. It engages them  at the most critical purchasing moment and affects behavior to drive sales. All brand marketers must be sure to get this part right. It doesn’t matter how great an advertising campaign is… if consumers don’t find the brand on the shelf, the sale is lost. After all isn’t that what it’s all about?