The art of rebranding is very much like storytelling, where you’re your own protagonist. The story will need to be tailored for a newer audience every once in a while but the message contained within it remains the same.
Perhaps you’re in the need of a snazzier logo. Perhaps you’re trying to change your image. Perhaps it’s just time to start over with a clean slate. Either ways, you’ll need to be prepared and you’ll need a few of the following.
1. A clear mission Why are you rebranding? Do you need a partial tweaking of your brand or do you want to lure in an entirely new demographic? Have you been out of touch with the needs of your customer base? Or could the extensive rebranding be completely avoided with different tactical changes? Know thyself is a really good place to begin.
2. A healthy dose of patience When Weight Watchers’ tried to rebrand and reposition themselves with different food options and a newer point system, it took them a good two years to begin to see any results. In the meantime, they enlisted the support of industry experts – influential dietitians – and over 19000 group leaders across the country. It took time for the profits to begin trickling in, but they ended 3rd quarter for 2011 with a 30% bang.
3. Begin Listening Sometimes, in their infinite wisdom, organizations forget to listen to their customer base. For instance, with the case of PepsiCo trying to rebrand the nation’s first breakfast love: OJ. With new product packaging that incited significant customer backlash, PepsiCo decided to pull back the new packaging on their old orange juice after learning their lesson the hard way. Our recommendations? Focus groups, sample testing and plain old research.
We’d love for you to share your wisdom with us. Have you made any rebranding attempts? How did you fare? What did you learn from them? Let us know in the comments!