Four Questions To Ask When Rebranding
Changing your brand is a major decision, whether you’re an established corporation or a small non-profit. At Creative Co-op, an important aspect of our work is helping clients look at that decision objectively. Do you really need to reinvent your organizational story from top to bottom, or would you be better off pursuing a brand evolution?
This simple framework of four questions was created long ago by a top brand strategist for Fortune 500 companies throughout the U.S. and Europe. Try applying it to your own decisionmaking process.
- Is a Rebrand Desirable?
- Is your current brand inadequate or costing you business?
- Are business, market or legal changes conflicting with your current brand?
- Can current branding solve these problems with minor enhancements?
- Is there a substantial risk incurred by replacing the current brand?
- Do new growth opportunities justify rebranding?
- Is it Available?
- Are there mass or niche openings for a new brand in your marketplace?
- Have competitors already staked out strong positions?
- Would a new brand be subject to competitive, legal or regulatory barriers?
- Is it Attainable?
- Will your marketplace see the new brand as credible and compelling?
- Do you have the resources to tell your story consistently across all channels?
- Can each and every employee buy in and fulfill your brand promises?
- Will current customers accept the new brand and remain loyal to you?
- How will you overcome opposition from competitors or other players?
- Is it Sustainable?
- Can you realistically “live the brand” for a period of 5, 10 or 15 years?
- Are markets and customer segments likely to remain favorable for the foreseeable future?
- Do any competitive, demographic or regulatory changes loom on the horizon?
- How will the new brand fit into your long-term planning or strategic vision?
Desirable, available, attainable, sustainable: it’s a handy mantra as you consider the future of your brand. If you can answer “Yes” to all four, it may be time to pursue rebranding. To see how organizations like yours have made it a reality, check out our branding case studies or contact Creative Co-op at (603) 658-1600.