Rebranding and Repositioning for Enhanced Value

To understand the process of rebranding and repositioning for enhanced value, let’s first look at what branding and rebranding is.

• Your brand is the overall umbrella for your company activities, including and defining; its vision, values, personality, positioning and image.  It is creating unique identities and positions for your products or services, which distinguishes you from your competitors.
• A strong brand is the face of your business strategy and is about building and then maintaining strong perceptions in the minds of customers, which takes time and resources to establish.
• It is built by what your company does, how you do it and with whom you forge important relationships.

Although it is only a part of the branding process, your company name and logo is your point of recognition for the consumer.  A vast array of communication media has made it increasingly more difficult but consistent identity and message, is crucial to effective branding. 

"I have always believed that the company name is the life of an enterprise. It carries responsibility and guarantees the quality of the product.” 

Akio Morita, founder of SONY.

Why rebrand?

When a company changes significantly in some way, such as size or direction, it can become attractive or advantageous to consider a rebranding of the company image.  Technology or consumer needs can also prompt a company to reposition.  The ultimate goal, of course, is to add enhanced value to the customers, the organization and its stakeholders.

Where to start?

The focus of your rebranding starts with clearly defining who you are as a company.  It sounds simplistic but the process can be enlightening to your team.

• What are your core values and beliefs?
  • Ensure this is consistent down the chain of command.

 

• Who is your target audience or consumer?
  • Narrow your focus for a concise marketing message.

 

• What are your targets and goals?
  • Where you want to be in one year, three years or five years.

 

• What is your strategic plan to meet your targets and goals?
  • A weekly, monthly, quarterly and annual plan for achieving these.

 

• What will your new image look like?
  • Stay true to your values, goals, target audience and strategic plan.

 

A strategic process that is logical and verifiable will enable your brand to evolve by design instead of creating itself by default.  More simply put, have a plan to define your brand.

A well defined plan will enable your company to measure, monitor and adjust its activities at regular intervals.  This is your road map; from where you are as a company, to where you want to be.

The bottom line

So, what are the bottom line benefits from the time and resources it takes to rebrand and reposition your company?  Once the research is done, your identity is repositioned and your rebranding is complete, what will you have gained?

 

• Enhanced value by helping the entire company and management team to implement the long-term vision.
• Enhanced value as you create a unique position in the market place, amid the masses of competitors.
• Enhanced value by enabling management to reduce costs and exploit synergies from a new and more focused brand.
• Enhanced value, as you unlock leadership potential in your team.
• Enhance value as you increase the awareness of your company and its offerings, while creating an emotional attachment that leads to customer loyalty.
• Enhanced value by turning your company’s value proposition into superior customer service and value.

 

Recent studies indicate that more than half of your brand equity is related to tangible facts such as price points and quality.  This means you must remain competitive without cutting corners.

Additionally, almost half of your value comes from intangibles such as customer perceptions of your integrity, industry leadership, management visibility or governance and how your organization conducts itself.  So, be transparent and play nice with others.

You probably can agree that rebranding and repositioning for enhanced value can be the answer to stability during these new economic times.

 

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