Part 1 - Stuck In the Status Quo
Tell me if you’ve been here before:
You walk onto the convention floor bright eyed with a coffee in your hand. Even though your flight was delayed yesterday you managed to wake up early and go for a run. There’s nothing like exploring the quiet streets of a new city at sunrise. You approach your display booth. Your team is already here, placing your tried and true collateral, and talking to your neighbors to the left and right.
Officially, you are the head of sales. Unofficially, you are in charge of marketing and you dabble in recruiting too. Your team has been preparing for this convention for months. You have your targets for new business, you know you’ll be running into a few of your blue-chip clients, and you're wondering what your competition is up to these days.
As the day unfolds and your coffee wears off, you get out from behind the booth and hit the floor. You are caught by surprise when your biggest competitor has the biggest crowd around their booth. A few of your blue-chip clients are hovering around the crowd too. You take a closer look and discover that their booth is beautiful. They have a refreshed logo on their new tent, a flashy promo reel on a flat screen, they even have those silly fidget spinners* with their tagline on them.
*Full transparency, I picked one up at the last conference I attended - I’m slightly ashamed that it’s spinning in my hand as I write this...
You make it back to your display and look at your collateral. It tells the same story you were selling 5 years ago the last time it was updated. It references a website that functions but definitely doesn’t impress. As you pack up your displays you make the decision, you are going to talk to your CEO about rebranding. You know you won’t be able to get clearance on a new flatscreen tv or even those silly fidget spinners, but you need to do something to keep leads coming through the door.
Before you write a memo to your boss, there are a few barriers you will be facing- it is critical that you have an answer for every concern.
Barriers to Rebranding
Cost and Return On Investment
Cost is definitely going to be the first objection. It ties into every other objection and rightfully so. The cost of a rebranding varies. If you want a clear mission statement, market research, a new website, the flashy promo reel with the matching flatscreen, and an advanced order of 50,000 fidget spinners - it’s going to add up. The best bet is to identify your budget and perform a brand audit. We’ll dig deeper into this below but keep in mind that there is a solution for every budget level.
People will say that when it comes to intangibles like “branding,” it is near impossible to track the return on investment. As of late, I have begun to disagree... kind of. There are many tangible aspects to brand identity that you can use as key performance indicators. It’s just a matter of identifying these KPI’s and tracking them thoroughly.
The first problem is that it is very likely you aren’t currently tracking these tangible aspects. Without a baseline to measure against or forecast with, delivering convincing data will be challenging. The second problem is that to fully leverage a rebrand you need the entire to team to fully commit, for a significant amount of time. If you slow down on any aspect of your new brand execution you risk throwing off the entire system.
Do you have the time to commit to a project like this? Depending on the results of your audit, it would be foolish not to commit considerable time to rebranding. Investing time and effort now to align your messaging and bring consistency to your brand will save you time down the road. Further, if you don’t have the time to take this on yourself, there are companies out there that can do the heavy lifting for you!
We’d love to talk to you about your rebranding project and learn more about what you’re trying to achieve - click here to get in touch with us today!
That’s the way we’ve always done it. How do you change the process that got your company this far? I suggest, bits and pieces at a time. Sometimes you just want to take the big leap and if you were the boss that’s what you would do. But since you’re reading this there is a good chance that you report to someone, and more often than not they got to that position through a process and system that worked. Respect the process that got your company this far and suggest improvements based on research and best practices. Keep in mind that a rebrand does not overwrite the legacy of a company. It repositions your organization in the marketplace and can build on the strengths of the original brand.
This is similar to organizational inertia but more difficult to overcome. Nostalgia for a company’s brand carries a significant level of emotion. “This is the logo my grandfather designed, it’s survived multiple recessions and is a fixture of the company”. If this is a pain point for your company spin it to your advantage. The best way to use nostalgia properly is to connect your past with the present. Take an earnest look at your current situation (see Audit below) and see how the strengths of the past can apply to today. Don’t throw Grandpas logo out the window, bring it into the 21st century with updates that will resonate with your audience.
See Part 2 of How to Convince Your Boss to Rebrand: Collecting Evidence & Making Your Case!