As the popular adage says, it is constant. Change is the perpetual cycle of transformations, of revolutions, of alterations from the original. It is about new faces, new voices, and new mindsets.
Are you ready for change?
Reinvigorating Your Brand
There are instances wherein a brand flounders. When left alone, it can wither and die. This is where insightful marketing strategy, as well as astute branding and identity services, come into the picture. The help of these marketing geniuses can breathe new life into your brand.
It is an undeniable fact that despite taking good care of your brand, there are factors that may cause it to become stagnant. This will be the downfall of your brand if you do not make the necessary move to save it. Times have changed, and if your brand doesn’t keep up with the flow of the market’s ever-changing current, then chances are it will get left behind.
Consider the millennium marketplace, reflect on the changes that technology has introduced, and ruminate on the effects of a modern world on your brand. More often, you will realize that the branding strategy you have created in your corporate infancy no longer applies. Because you have grown over the years, it is also to be expected that your market, as well as your products, services, and your business goals, have already outgrown your initial branding tactics.
You’re not the only one going through a rebranding fix. Well-known companies have undergone rebranding. Global brands such as Volvo, Netflix, and the über popular “Think Different” outfit – Apple – have all gone through their own versions of brand revamps. When you are honest in recognizing that your company needs help in the branding aspect, then you are well on your way to brand redemption.
To ensure that you can refresh your brand in the most effective way, here are three simple steps to guide you:
1. Align your brand strategy with current goals
What is your current business objective? What do you hope to achieve? What are your company’s mission and vision for this year going forward?
Have a good look at your current corporate goals and realign your branding strategy to sync with them. One of the reasons a company struggles to reach its targets is because it is not walking the talk.
Take, for example, the brand Volvo. During its Ford era, the brand suffered a disconnect between what the brand was saying and what the products were showing. Ford wanted to market it as a luxury car, but it threw away its firm Swedish identity. It then proceeded to make cars using the Ford platform then pushed it into the market as a luxury marque, competing with the likes of Audi, BMW, and Mercedes-Benz.
Sales slumped and, fortunately for Volvo, Geely Holding rescued it in 2010. Since then, Volvo has undergone a comprehensive transformation and is now enjoying a vigorous growth spurt.
In a nutshell, define your goals and assign measurable markers. You can then work towards a clear goal.
2. Update your buyer persona
Are you still talking to the same people? Brands that fail to capture their target market through an out-of-sync branding strategy also run the risk of fading into oblivion.
It is always best to know your market. When you have let years go on without keeping in touch with your customers, then you may no longer know them at all. If this happens, it’s time to conduct surveys and market research.
It is not enough to gather your run-of-the-mill demographics. You have to delve deeper, get the psychographics, and know the customer touch points. What drives them? Where do they go? Who do they follow or idolize?
Knowing what their pain and pleasure points are when it comes to your products and services will help you in shaping your new branding strategy. Listen to what they are saying (or not saying) and keep your finger on the pulse.
3. Check your corporate identity
Some companies that go through the whole rebranding process also take their branding identity into consideration.
No, the logo is not the brand identity. It is a whole system of coherent visual devices used by the whole organization that puts a face to the brand. Aside from the logo or icon, it also includes everything from stationery to the smallest nametag. Visual identity collaterals include all marketing and communication materials, ranging from point-of-sale standees, flyers and other BTL and ATL collaterals, up to digital platforms such as websites, social media sites, and apps.
How company personnel, especially front liners, walk, talk and represent the brand is also part of the whole identity rebranding process. You cannot sell luxury cars if your sales staff do not exude luxury, for example. Everything has to be aligned with your brand story, from the way they dress down to the way they carry themselves.
Rebranding can mean changing the whole look of the brand to help the market perceive its whole new image. With the correct strategy and flawless, consistent execution, then you have a better chance at basking in market love the second time around.
Alive, Alert and Rejuvenated
In the same way that you feel revitalized after a whole day at the spa, a brand that has undergone a major brand refresh also gets a second wind.
If done properly, with all the bases covered, there is a great chance that a company’s brand will once again flourish. Of course, the market will still dictate whether a brand “makes it,” but if you have done your homework, then you can look forward to just rewards.
Grace Yacoub is the owner, founder, and CEO at Zaman. She recognized the potential to develop brands in Dubai back in 1996. Amongst her first projects were to convert the local powerhouses of Etisalat and NBD into branded entities and engage the nation in the drive for modernity. She has since led projects across finance, family, industry, property, retail and all sectors to convert many of the region’s most important companies into powerful brands.