6 Unexpected Benefits of Rebranding
It seems like every day I hear about a different company rebranding themselves. While I believe many companies could use a rebranding, not all CEOs, Chairman, Chiefs, and Presidents fully grasp all of the benefits and intricacies of rebranding.
Often, construction companies hold on to their visual-branding (logo, identity, mark… the stuff that visually represents your company) for too long, sometimes suffocating the next generation under the look and feel established long ago by their founding members. Often this is a result of the mentality: “it’s worked this long… why change it?” This can cause complacency in the ranks. Employees either never get passionate about working for the company, or lose interest after many years by forgetting why they joined the team in the first place (lack of relentless internal branding and a “flag” to rally around).
However, having worked with hundreds of companies through various phases of their rebranding process, we have seen the challenges, and the many benefits that can come from carefully orchestrated rebranding… here are a few:
- When your new look is being unleashed, your competition is out there thinking “Oh no! What are they going after? What are they up to? Why are they doing this?”, and they can spin their wheels trying to figure it out.
- The most expensive part of a rebrand is not in the design work. The largest expense, if you do a major overhaul, is in the printing of stationery, equipment/fleet signage, website, uniforms, SOQs, etc. However if planned and executed correctly the rebrand will save you money over time. (This is a blog and not a novel so if you want details on how – give me a call…Adrienne 504.355.4119)
- For a company that is struggling and working to find its footing or next big job, a rebrand can focus attention away from the stress and struggle they are facing and get the company focused on looking th the future.
- For a solid company that is growing and growing and growing, a rebrand signals (and can represent) the success, strategic vision, or new offerings of the company.
- For a generations-old company, a rebrand signals to the internal staff “we are not going to forget who we are, but we’re not going to let our company get old and outdated either! We are going to refresh ourselves to stay nimble and relevant in this new technologically focused marketplace.”
- For all rebranded companies, the staff experiences a renewed sense of purpose and energy at all levels of the organization.
Anyway you look at it, rebranding is good for the long-term health of a company. It requires key decision makers to look carefully at what the company is, what it was, and what it will become. That is never an easy task, and before you and your team tackle a rebranding, make sure you will use a well-thought-out process to stay focused on what needs to be done and don’t lose track of why you’re investing the time and energy into this project. You’ll also need a strong Brand-immersion program to reorient the entire brand community once you’re done. The results of your effort will guide the culture and direction of your company for decades; let’s make sure it takes you to the right place.