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!

A Brand Positioning Statement: It’s Your Brand’s Destiny

 What’s in a brand positioning statement?

In clear terms, it defines your company’s direction… and actually acts as a compass through growth opportunities and changing market conditions. It is the critical platform for all communications. Without direction or focus, the brand goes…. absolutely everywhere… and not in a good way!

It seems very easy to create… A few words that speak volumes. How difficult can it be? More to the matter, how significant is a positioning statement? Positioning Statements, or in the case of Consumer Packaged Brands, slogans, have been at the heart of advertising sell copy since the inception of mass selling.

It is an important component of your marketing initiative… if not the most important. Positioning is not just a fluffy marketing word… it defines and  identifies your Brand/Business. A brand positioning statement eloquently states your brand’s “stake in the sand”. Moreover, it expresses “This is who I am, this is what I do, this is what and how I deliver”. In basic marketing practice, the easiest way to describe a positioning statement is that it announces to the world what makes your brand stand out above the rest and how you do that in a very succinct message.

Keep your brand/business on track with a powerful positioning statement. So how do you go about developing one?

A good marketing exercise to do prior to attempting to create your own positioning statement is to look at the brands that have successful taglines and try to identify the key messages that the tagline promotes. Ask yourself if the statement is relevant to what the brand promises, or the product delivers….or if it speaks to the service the business provides. View the positioning statement in rewind. You’ll find that the good positioning statements easily reflect the market, the target and the benefit of each brand or business. Here are some to get you started: McCain “It’s all good TM”campaign, “i’m lovin’ it”, an international branding campaign by McDonald’s Corporation (they incorporated it with their logo), and Scotiabank “You’re richer than you think”.

In this new world of do-it-yourself marketing and branding, many start-up companies go at developing a brand positioning statement on their own. Often those positioning statements end up being descriptors of the brand. Like the warning copy on an Evil Knievel daredevil act, I urge you not try this at home… and alone!

Here are the must haves of a positioning statement, in no particular order:

1) The Promise: Must state what we offer.

2) The Benefit: Must clearly identify what’s in it for them.

3) Personality: Must reflect the culture and brand voice.

4) Originality/Uniqueness: Must be a thing of beauty and joy.

5) Simplicity: Must be so succinct as to  inspire a “wow”.

6) Longevity…. it must be there for the long haul.

What better way to demonstrate the importance of clearly stating the benefit simply within a positioning statement than with the Muppets!  Watch this video clip from the Muppets Take Manhattan movie, for Ocean Breeze Soap. The message is bang on!

Once you achieve the Positioning Statement…. you must, and this is so very  important: Use it consistently and frequently on all communication pieces. On business cards, web sites, apps, trade booths, ppt presentations, print ads, radio ads, digital ads, TV ads, leave behinds, etc, etc, etc.

This positioning statement will drive your message home to consumers,  just like a GPS and will definitely build the foundation for brand recognition. Check out our ebook “Branding Understood” to get your gears turning!

Does your positioning statement have what it takes to direct your brand’s destiny?