How do you establish a new identity?
Building a recognizable and loved brand is one of the most valuable assets to any company trying to increase its potential economic growth and development. Companies spend a lot of time, money and effort building a brand and getting their name out there. Re-branding can be tricky, especially if your organization is already known for a specific product or logo. So why would a company want to uproot everything and start over?
There are innumerous reasons why an organization might decide to re-brand and just as many ways to tackle it. With a proper plan of attack and the right frame of mind, a re-brand can be the cornerstone that helps your company improve financially and in its marketability. To successfully re-brand your company, you first need to understand the key components of a corporate re-brand so you can develop successful messaging and imagery that resonates with your target audience.
Figuring out why you need to re-brand is the first step, as it will help determine the type of re-brand that best suits its circumstances and achieves its goals. Re-branding can either re-define a brand’s entire identity or simply spruce it up a little. The reasons for a re-brand might include aspects like a company merger, shifting goals in a new direction, updating a brand that no longer resonates with the target audience or switching things up to stand out amongst competition. The kind of re-brand you conduct depends on what suits your company and aligns with your goals.
The partial re-brand is great for businesses that are already well established yet need to refresh or update based on the services it provides, its status in the marketplace or its identity. This type of re-branding tweaks one or a few parts of the brand, such as updating the logo for a more modern look or revising the brand’s vision statement.
A prime example of this is the Old Spice brand. Prior to 2010, the brand primarily focused on marketing to older generations of men. As competition increased, research showed that their established brand was going through an identity crisis. The result of Old Spice revising their brand with an energized campaign that used humor to market directly to the men who used their products as well as the women who were purchasing them. Their new brand was barely recognizable, and the marking campaign was highly successful, entertaining and engaging a new demographic of customers.
Sometimes it is necessary to start with a clean slate and entirely reimagine your company’s identity and marketing strategies. When two companies merge and undergo many critical changes, a total re-brand may be the best option: They can re-emerge as one branding company with a single mission, vision and value and messaging. Total re-branding typically results in a name change, new messages and fresh imagery. An organization might decide that a complete transformation is necessary because it lets them properly position themselves in a new direction.
Cocke, Finkelstein Inc, and CFLane—the Atlanta-based real estate investment and multi-family leaders—announced in 2016 that they would have a company-wide rebrand. In 2013, acquisitions made by the organization led to success across two platforms, multi-family services and investments; however, the company still functioned as two separate organizations. A strategic, thoughtful approach was needed to re-brand the organization and allow them to operate as one company under one brand. They merged under a new name, CF Real Estate Services LLC, and unveiled strategies and commitments that put them in the position for rapid, widespread growth.
Do You Need a Re-brand?
Before committing to a rebrand it is important to be sure that your business actually needs one. Think about what your motives are for making this decision and move forward cautiously, a re-brand is an enormous undertaking. You have to consider all the changes to your SEO strategies, website redirects and strategic PR placements. Your re-brand needs to be deliberate, purposeful and targeted. It should aim at communicating a specific message tied to your specific goals. Remember, the key to branding and re-branding is to skillfully craft a message that will speak honestly and frankly to your target audience while sticking to the direction your organization envisions for future growth. You are your brand—show them what you’re worth!
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