This is an age old truism, and one I reel out every time I’m approached by a business wanting to rebrand.
Because sometimes, after all the excitement has worn off, we’re left with one question: Why did they do it?
I talk a lot about something called #equity – & it’s not just a buzzword. It’s the commercial value that businesses derive from customer perceptions of their brand.
It takes time, energy, and investment to build, but can disappear in a flash. So any decision to change a brand is loaded.
So before diving in, I recommend CEOs and Boards ask themselves a couple of questions:
1. What has changed in our business – for better or worse?
2. Are we trying to recover from poor commercial outcomes?
3. What are we trying to signal to our staff, customers, and the market by rebranding?
4. Can we afford the distraction?
5. Can we afford the process?
6. How does the rebrand help us deliver on our vision for the business?
What’s a rebrand that you think has been successful?