Why bother with a brand-new brand?

In February 2019 we rebranded to TOMD. We’ve written two blogs. This one details some things to think about if you’re rebranding and another entitled, ‘Why did we rebrand to TOMD?’.

It’s worth starting by saying that a definitive definition of what a brand is, is difficult to find. In marketing theory, it’s all about the personality of the firm and how it’s perceived. One of the main ways that the personality of a firm is demonstrated is through the visual elements such as logo, fonts, colours etc. And, for the purposes of this article, this is what we’re focusing on.

If you are thinking of rebranding, the first question is ‘why do it?’. Whatever the extent of the rebrand, whether it’s just a small tweak to the logo or something more significant like a company name change, it will take time, cost money and require resource. Just as implementing a new back office system requires internal focus, so too does a rebrand, consequently other things will suffer – possibly sales. Therefore, you need to have good business reasons to do so.

That said, there are lots of good and legitimate reasons to rebrand: you might be merging, your current logo may be outdated, or your company name may no longer represent what the firm does. One of the issues about branding is that, unlike a new back office system, it’s an emotive subject. So, you have to make sure the reasons for rebranding are business ones not emotional ones – just as you would with a decision about new technology.

The benefits of rebranding

Having provided a ‘branding sense-check’, let’s now look at the positives. In addition to the many legitimate reasons to rebrand, some of which we’ve already highlighted, there are many additional benefits to rebranding – if the process is undertaken properly.

Firstly, it can create an internal focus and generate some excitement, especially if you involve staff in the rebrand process. Plus, you can ‘make some noise’ to launch the new brand – and it gives you another reason to talk to clients, potential clients and professional connections.

We’d also suggest talking to staff during the process, and maybe a few clients that you know well, just to make sure what you’re doing isn’t too offbeat.

There’s lots to think about

There are costs involved with a rebrand. Typically, these fall into three categories – brand development, implementation costs (external) and resource (internal).

Brand development refers to the work of the design/marketing agency to create your new logo etc. How much this will cost and how long it will take will depend on a few things: the extent of the changes you’re making, how good your brief is to the design team, how decisive you are and how quickly you make decisions.

Implementation refers to the design, creation and, in the case of business cards for example, the print of all your new materials. Again, how long this takes will depend on the extent of the brand change. If you’re just making a tweak, you may decide to keep the same website and just add the new logo. If it’s more significant, you probably need to commission a new site – this will take longer.

Internal resource is, of course, an absorbed cost and you may prefer to ignore it. However, just to reiterate the point, rebranding will take up more time than you think.

One of the most important things to do, at a very early stage, is make a list of all the things that need changing, then prioritise them (some things may not need doing for launch day) and cost them out. And don’t forget the third-party systems you use, such as platforms.

Don’t forget to tell everyone

Another point to consider, well in advance of launch day, is who needs to know and what you’re going to say. You might decide, if it’s a small change, that you don’t need to make a big deal of communicating about the new brand. We’d suggest this would be missing a trick. Any chance to communicate with your various audiences should be taken, even if you just rely on social media, or telling people when you next email or see them.

If the changes you are making are significant, such as a name change, you must, must, must communicate with all your audiences. People can be suspicious of change, and if you’re providing financial or legal advice, suspicion isn’t generally to be welcomed! This is another reason to think long and hard about whether a brand change is a good idea.

So, you need to communicate clearly, perhaps using multiple methods and media. Those communications may need to cover things like whether or not your bank account has changed and if the firm is now a different legal entity.

When’s the best time to rebrand?

In short, when you’re making other changes. For example, if you’re moving offices you will already be incurring costs to reprint stationery, signage etc. So, whilst rebranding at the same time as you’re implementing other company changes may stretch internal resources, it could save money.

As to whether it’s best to name a launch day, this is a double-edged sword. A launch date creates a deadline and focuses the mind. But if you have to delay, it can be demotivational.

If you’re going to take the plunge and rebrand, good luck. If you need some advice and guidance, we’ll be delighted to help, but we will ask you why you’re doing it!

By Rachael Haley.