Rebranding is a potent strategy for realigning your messaging with your goals, capturing market share, or rejuvenating team morale. However, the decision to rebrand should be informed and deliberate, as misguided efforts can lead to costly and damaging setbacks. At its core, rebranding is about evolving or reshaping how people perceive your brand. However, achieving success requires a deep and objective understanding of those existing beliefs, setting authentic (and realistic) goals and strategic execution.
History is peppered with cautionary tales of failed rebrands, such as Tropicana's infamous 2010 debacle resulting in a 20% sales plummet and a $30 million loss. Conversely, successful rebrands can wield significant positive impact on a brands bottom line – whether that be in the bank or in court of your audience’s perception.
So, why consider a rebrand?
It usually comes down to why; why are you rebranding? and why should your audience care?
At MOK2, our clients choose to rebrand for many different reasons. In most cases it is to better align their external perception with strategic business objectives. For instance, Ten North Group, they sought to translate their impactful work in affordable housing and social justice into actionable branding tools and architecture that positioned their internal culture and external communication to support their long-term strategic plan. While Parfumaire, an established home fragrance manufacturer from France, aimed to penetrate the US market with a culturally resonant identity and positioning. In both cases our work involved significant changes for them, including foundational components like their name, identity and messaging. Other clients needed rebranding development because they recently merged or were acquired and needed to protect their existing equity and culture, or they needed to launch a different type of product to a new audience. The commonality in most cases is basic- they want to better connect to the people who make them successful.
How do you plan for a rebrand?
Planning a rebrand requires careful consideration and strategic foresight. The most successful rebranding is usually done from an objective space so it’s essential to find the right agency partner who really understands who you are and what you are trying to do. Before embarking on a rebranding journey, it’s helpful to first clarify your motivations and honestly identify the underlying challenges you seek to address.
- Clarify the problem you are solving. Avoid focusing on the right solution to the wrong problem.
- Have an informed strategy – Don’t call it a re-brand and throw design at it. Incorporate the critical context needed to make it successful.
- Understand what you need to change. Changing your logo or identity won’t fix deeper challenges. A successful rebrand demands more than cosmetic changes; it necessitates a holistic evaluation of organizational culture and readiness for change.
- Objectively evaluate if your organization has the capacity (i.e. talent, bandwidth, budget) to consistently implement the significant changes this process could involve.
- Define how far you are willing to go. Are you ok with breaking some of your existing rules to make needed change?
Ultimately, the decision to rebrand should stem from a genuine need to better connect with your audience and advance your mission. By approaching rebranding with clarity, strategy, and a commitment to meaningful evolution, you can chart a course toward lasting success in a dynamic marketplace.
