How Great Brands Transform Themselves
Recent history is full of examples of successful rebranding transformations, from Target, to Harley Davidson to Apple. At some point, every company’s brand must evolve to stay relevant to consumers in a constantly changing marketplace, otherwise it will stagnate.
In an article that appeared on Entrepreneur.com, Jim Freeze, CMO at Aspect, offers 5 tips to assist you in rebranding your company.
1. Face the music…whatever the tune.
Although it could be unpleasant, brace yourself for the truth about public perception of your brand.
Open your mind to the possibility that your target market has changed, and the group you have been targeting previously may no longer be the right fit for your brand.
Elicit feedback from specific market segments to discover who is resonating with your brand and who is turned off.
Analyzing competitors can provide valuable insights, as well as surveying your own employees.
2. Get the CEO on board.
If you are not the CEO, it is vital that he or she be in alignment with the rebranding strategy. Marketing cannot accomplish a successful rebrand without the full support and advocacy of the CEO.
Same goes for getting C-Suite leaders on board—their buy-in is not as crucial as the CEO’s, but it certainly will make for a smoother transition.
3. Bring in outside consultants.
You may meet resistance from managers who are uncomfortable with change. It is easier for them to accept new strategies when they come from a neutral third party brand specialist with rebranding expertise. One caveat: make sure you don’t just hire an agency that will tell you what you want to hear—the idea is to get someone to rock the boat.
4. Consider having a brand messenger.
“Sometimes the right avenue is opting for a spokesperson or character unrelated to the company to deliver the new brand message (think Hotels.com’s Captain Obvious or Progressive insurance company’s Flo),” Freeze says.
5. One step at a time.
Your brand wasn’t built in a day. Successful rebranding results will require that you go through the process methodically and thoroughly.
Freeze says to be patient and manage expectations. Even with the most successful rebranding campaigns, positive results will not be immediate, so be sure everyone involved is realistic on how long it could take.
To read the original article in its entirety, please visit Entrepreneur.com.