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A rebranding exercise is an exciting project for any company. But it will present challenges too, not least because the process, from concept to roll-out, can take months if not years to implement.
The value that your brand represents to your overall company value can be as much as 15%, and in the case of a business like Coca-Cola, that figure is 50%. Getting a rebrand implemented smoothly and accurately, therefore, can have a massive impact on your business.
In my experience, success is most accurately measured by the implementation phase of a rebrand. In my early career at various branding agencies, I frequently saw branding projects lose momentum, strength and vitality in the implementation stage – because the process was, to put it bluntly, chaotic.
Implementation can cost as much as 20 times the price of brand design. If you pay £100,000 for the design phase, you’ll pay £2m for the roll-out. And, if you don’t get it right, you are going to see a disappointing return on investment.
So I offer the following as the five strategic actions that, in my view, come together in assuring a successful rebrand.
According to Gartner, marketers are becoming increasingly responsible for buying marketing related technology and services. In fact, Gartner predicts that by 2017 the CMO will spend more on IT than the CIO.
Here at Brandworkz, we are seeing a growing trend for marketers to implement online brand management or digital asset management systems.
In line with this trend, marketing and brand teams in global companies are becoming used to using their brand management portal or digital asset management system widely and frequently and probably take its working resources pretty much for granted.
But we believe your brand portal can be a much greater an asset to your business if everyone in the organization makes use of it.
It’s true that people working in other departments don’t always see themselves as directly responsible for the brand. And yet, if your HR team, sales people and IT department can also be converted to brand evangelism, the outcome can be hugely positive in terms of building your business.
Here are five ways in which you can help make that happen...
Marketing automation on the rise, social media going ballistic, location-based marketing ramping up. We certainly saw some major changes in the brand management landscape in 2012.
But what do we predict as the key trends in branding and marketing as 2013 gets under way? Let’s have a look.
He’s been saving the world from assorted villains these past 50 years – and now James Bond is backing Britain. Currently being aired in 21 countries, VisitBritain’s new promotional campaign has put 007 on the case.
VisitBritain’s ‘GREAT Britain’ campaign also draws together major events, sporting achievements and commercial partners to promote the UK as a great country in which to live, study, invest and do business – as well as to visit.
In my book, the GREAT Britain campaign is a real winner. So what can it teach those of us in branding and brand management about the principles of country branding?
The last IPA Bellwether report indicated that UK marketing spending had fallen due to deteriorating business confidence and cost-cutting measures.
Marketing budgets were hit by weaker than expected sales and concerns about the strength of the economy in Europe.
In the face of reduced budgets, the challenge for marketers is to find ways to become more efficient.
We need to think smarter about how to get more out of our marketing budgets and to make sure that we invest the resources we have in the channels that demonstrate the best returns.
Your brand guidelines and brand manual are the most important documents your company will ever produce.
A bold statement, but the truth is that these documents are your brand ‘bible’. They communicate why you exist, tell your brand stories, and communicate how it should be expressed.
Everyone tasked with communicating your brand should be consulting these instruction manuals whenever they are creating branded materials.
In many businesses the reality is somewhat different. Time and effort are spent creating brand guidelines, only for them to be left on someone’s hard drive or copies printed, distributed and ‘filed’ in the bottom of the marketing team’s drawers.
Brand consistency suffers as people may not thoroughly understand the brand.
Controlling brand consistency is a struggle that many if not all brand and marketing managers face over the course of their working lives.
Keeping track of a global brand across a myriad of communication channels is key to maintaining its strength, which translates into customer acceptance and ultimately sales.
Brand consistency is vital to a business because it builds recognition which consumers use to evaluate their purchase decisions. Consistency also brings clarity which consumers trust.
When consumers trust your brand they become loyal. And what everyone wants is loyal customers.
But what do you do when you start to lose a grip of your brand? You take a hit when the levels and complexity of marketing activity exceeds the amount of control the business has over brand management.
There will be less coherence in the way your brand appears which leads to loss of clarity in the minds of your consumers about what you stand for, leading to lower sales and less return-on-investment in your brand communications.
So what can you do to improve brand management and therefore brand consistency?