To rebrand a company or not to rebrand a company?
A question every business, big or small, will eventually have to answer.
At FINALLY we’ve rebranded many businesses, but that doesn’t mean it was an easy decision. A brand refresh is a BIG decision.
Or is it?
First, let’s take a look at the top 5 reasons why businesses are worried when considering a rebrand:
- It’s too expensive.
- It’s a waste of time.
- It might alienate my current customers.
- It’ll be a pain in the bum picking the right agency.
- Their ideas might be pants.
Natural and valid concerns, but like all problems they often seem a lot worse than they actually are. When you break those fears down and start to think objectively the answer becomes clear.
So let’s take a look at those fears in more detail.
Rebrand a company fear #1: it’s too expensive
There’s no doubt the cost of rebranding a company will set you back a bit – particularly if you think all a rebrand is is getting a new logo. Whilst a new logo is important, there’s a lot more to it than that.
Setting the foundations will help you stand out from the competition, attract new customers, and remain consistent. In fact, consistent presentation of a brand has been seen to increase revenue by 33%.
Rebrand a company fear #2: it’s a waste of time
There are only two instances where a company rebrand is a complete waste of time:
- Your branding is strong enough already.
- You cheaped out the first time.
Any agency that is worth its salt should tell you whether your current branding is worth keeping. There’s no point rebranding everything if all you really need is to breathe fresh life into what you have.
Then again, there’s always the lure of paying less. The trouble is, when you pay cheap you pay twice. So asking someone to knock something up may do the job, but you can guarantee it’ll look out of date a year or two down the road.
Rebrand a company fear #3: it might alienate my current customers
Completely understandable, but easily navigated.
When choosing a rebranding agency ask yourself this: how much effort have they made to learn about you, your business, your market, and your audience?
If the answer is: “fill in this A4 brief” – run!
There is no way an agency can understand the subtleties of your business or truly grasp what you do, how you do it, and why you’re different from a few paragraphs.
Assumption is, after all, the mother of all cock-ups. So never believe in anyone who hasn’t got something that closely resembles our Discovery Days.
Rebrand a company fear #4: it’ll be a pain in the bum to choosing a rebranding agency
Now, this really is a legitimate fear, as it all comes down to personality and culture.
You have to trust the people you're trusting with the future success of your business. There is a lot at stake, so it makes sense to ponder. Get it right and you accelerate your growth. Get it wrong and you’re back at square one.
That said, a quick litmus test is to look at the types of businesses and brands your agency already works with. This should give you a clear indication of their expertise, professionalism, and creativity. Although, not every agency fits every client, use your intuition. It has to feel right.
TOP TIP: Good questions to ask yourself are: are their clients working in similar industries? Do those businesses have similar values to yours? Would you be proud to be associated with them? If so, then that agency is probably a good bet for your rebrand.
Rebrand a company fear #5: their ideas might be pants
Well, if you’ve done your homework (i.e. you’re impressed by their work, respect the clients they have, and like them as people) then their advice is worth listening to.
After all, it takes just 50 milliseconds (0.05 seconds) for people to form an opinion about your website. Hence why good agencies spend so much time on capturing a clear and consistent ‘image’ across all touchpoints. It’s the kind of stuff that you may never have considered before but is vitality important when making a first – and lasting – impression.
The really tough bit will be choosing the right direction. Many agencies will give you between two, three, possibly four options to consider. Together with the rationale behind how each communicates your message and why it appeals to your audience.
Although at FINALLY we tend to only present one idea. Why? It’s because we do so much groundwork in the beginning. We’ve found it speeds up the creative process and by the time we’re at our second round of initial ideas, it’ll be obvious which one is THE one.
The truth is you already have the right answer, our job is to find it for you.
At a glance: top five fears when rebranding a business
See, when you think about it, your brand refresh fears aren’t so bad after all...
- It’s too expensive – not if it pays for itself.
- It’s a waste of time – only if I don’t really need it or want to cheap out.
- It might alienate my current customers – only if the agency doesn’t do their research.
- It’ll be a pain in the bum. choosing a rebranding agency – only if you don’t do your research.
- Their ideas might be pants – only if they’re not sure themselves.