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3 Dangers That Come With Rebranding — and Methods to Overcome Them

Opinions expressed by Entrepreneur contributors are their very own.

Rebranding shouldn’t be an effort to take evenly. There is no scarcity of manufacturers that acquired the flawed form of consideration after altering up their emblem (bear in mind Airbnb?) or their identify (hey, Meta).

And whereas a wholesome dose of concern is an efficient factor going right into a rebrand (to maintain from embarking on the hassle frivolously), it should not paralyze you from making much-needed choices or taking assured motion both.

Having only in the near past rebranded ourselves, full with a brand new emblem and a brand new identify, belief me … I get it. Listed here are among the greatest dangers we confronted through the course of and the methods we acquired round them in the long run.

Associated: Does Your Firm Want A Rebrand? This is Why, When and How You Ought to Do It.

Threat: Lack of model fairness

It is a frequent one, even for corporations which have solely been round for a short while. Shedding what little recognition you’ve got achieved seems like an enormous void. Clients want re-educating. Staff want retraining. It is by far the best threat you may face.

In our state of affairs, the chance was twofold. We had spent the previous couple of years buying quite a lot of different corporations within the relationship-marketing house to construct an built-in full-stack resolution. That meant we had been rebranding not solely the identify of the umbrella firm that acquired all these manufacturers, however we needed to reposition every of them individually beneath the brand new, mixed entity.

The primary half wasn’t so exhausting, for the reason that umbrella firm doing the shopping for wasn’t a powerful model to start with. It was only a placeholder as we constructed our technique via acquisitions. So, altering from CM Group to Marigold wasn’t an enormous threat.

Far more difficult was find out how to reposition the a number of corporations beneath it — every with its personal clients, staff and current advertising and marketing and messaging within the area. Specifically, the staff of every firm had been tied each professionally and emotionally to these manufacturers, and upsetting that carries its personal dangers.

Our resolution was to maintain the names of these options however reposition them as companies supplied by the father or mother model Marigold — “Cheetah Digital by Marigold” or “Sailthru by Marigold,” as an example.

This “endorser technique” allowed us to maintain all of the familiarity and model fairness every service has gained through the years however current them in a brand new gentle as a part of a collection of companies which are much more beneficial when supplied collectively — better than the sum of their components — and promote Marigold within the course of.

Associated: 4 Suggestions for Launching a Profitable Rebrand

Threat: Upsetting firm tradition

Let’s face it, a rebrand is a disruption to the day-to-day enterprise of working an organization. These most affected are sometimes not concerned within the choices made concerning the model both. So, worker confusion, resistance and resentment are very actual fears.

We had been extremely delicate to this reality given the variety of corporations we had acquired. We did not simply mix completely different applied sciences and companies via the method, we acquired completely different cultures, management groups and histories.

However a part of mixing completely different corporations beneath one banner is the necessity to set up a brand new tradition that each one can share. Once more, we would have liked to create one thing that was extra than simply the sum of its components. It needed to retain every part that existed earlier than, in addition to add one thing new and helpful to all.

In brief, it should not really feel a lot like a change as a pure evolution.

We did this by speaking the rebranding technique to all events earlier than launching externally. This was performed in considerate levels to make sure the best staff had been knowledgeable and consulted on the proper section of the method. Whereas, in fact, what resulted doubtless did not replicate the opinions and expectations of everybody, we felt it was essential that each one had been heard, valued and knowledgeable.

Then we evangelized it company-wide, utilizing the method to convey collectively these previously disparate groups into a brand new frequent floor.

Associated: Vital Classes I Realized From a Rebrand

Threat: Alienating clients

Altering the identify or performance of a services or products that clients use is form of like rearranging the furnishings of their home with out asking. So, if you make the massive reveal, you desire a optimistic response. We determined to inform our buyer base concerning the branding adjustments earlier than the press launch went out. That manner, they heard it from us and never a shock within the press.

As a part of this course of, it is important when the brand new model is unveiled that you just emphasize all of the methods this new growth will assist THEM. Keep in mind, a rebrand shouldn’t be about fancy new logos or juiced-up advertising and marketing language. It is about establishing an thought and an expectation with the individuals who will make or break your small business. If you happen to’re not rebranding with the client first, it is a large threat.

Our aim was to make use of the rebranding effort not simply to reintroduce our firm and companies, however to essentially use the rebrand as a approach to hit reset on your complete business we serve. Why did we purchase all these corporations and combine their performance beneath one banner? As a result of the enterprise of promoting has modified essentially, and a brand new form of relationship-marketing resolution is required to assist it adequately.

Make your rebrand much less about you or what you need from the business, and as an alternative make it concerning the distinctive worth you convey to your clients, shifting ahead such as you’re rebranding a complete business. Set the tone. Change the narrative. Outline the house you use in, and emerge as the brand new chief by default.

So, sure … rebranding is dangerous. However given the best set of market forces and firm evolutions, not rebranding may be much more so. So long as you are trustworthy with your self about your intentions and use rebranding to resolve the issues each you and your clients share, it’s going to doubtless have a optimistic outcome for all.


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