7 Ways to Convince your Boss to Rebrand
So what can you do to convince the powers-that-be that your company could greatly benefit from a top-down rebrand? You need to build a case around the business value of rebranding. There are many ways in which a rebrand can add tremendous value to the bottom line, and those are the kinds of ideas your boss is looking for. Here are a few places to start.
1. Brand Story – A rebrand gives your company an excuse to talk about itself. I mean really talk about itself and communicate your core values all over again. It’s a tremendous opportunity to re-state your brand belief and remind your audience that you’re here, ready to serve them.
2. Demonstrate Innovation – Rebranding is a bold statement to the market that your company is savvy and sophisticated and that you actively want to re-engage with your audience. When I worked with a recent Not for Profit on a rebrand this was something that gave them the competitive edge and they said, “We want to remain relevant with the times with what we do, it’s important for our organization and our customers – it’s a must!” This alone can increase business leads by having prospects take a second look, and maybe take your company more seriously. It can also encourage existing clients to take a second look at your full product range and potentially increase repeat business.
3. Legacy – Rebranding can be a way to honor your history as a company by preserving the essence of your original brand while providing a fresh new spin on things. In other words, “We’re established, but forward thinking.” Not all rebrands are a do-over, in fact, the best companies rebrand and take a look at both internally and externally, on a consistent basis. Perhaps you have a boss that is looking to retire in the next 5 years – what better way to leave his legacy than to create a brand to carry that onwards.
4. Brand value is a tangible item on the balance sheet – Creating enhanced loyalty is money in the bank when it comes to selling a business. Rebranding can enhance brand value by creating a more engaged and loyal audience, and reduce overall churn. Although it’s difficult to measure, it’s an important factor when selling (or sometimes acquiring) a business.
5. Recruitment – A great brand starts with your staff and employees. More often than ever before, we’re actively recruiting the Millennial generation. This generation is typically more interested in knowing that the company they’re going to work for has strong values and purpose, is a solid place to work and has a bright future. If your company is competing for the top of the class, it’s so important to say that you look engaging and ahead of the pace of your competitors.
6. Consistency – Companies with aged or dated identities often suffer from a lack of consistent brand usage across the organization. Color variations, proportion, different versions of the logo and so forth can be a tell-tale sign that the brand has run wild and its time to reset. Gather evidence from your colleagues by documenting examples of misused or dated collateral and logo examples. Use this as a case to create a renewed set of brand standards and logo usage guidelines to get everything back on track. And this is a perfect opportunity to freshen things up with a new look.
7. Cost Savings – When you hear “Rebranding is too expensive; we’ll do it in the future”. This isn’t uncommon to hear, because rebranding can be a costly and resource intensive exercise. But the truth is that it’s not going to get any cheaper and only gets more expensive as your company grows. New hires, expanded fleets, more inventory, new product lines will all need to be rebranded at some point. Tackling this before going through a growth phase can save cash down the road.
To get to the grit of it, rebranding creates more opportunity.
Bottom line, a rebrand is a major opportunity to generate new opportunities for the company. So even if your company is ‘doing just fine’, could it benefit from opening new doors by telling the brand story in a fresh and contemporary way? The answer is usually yes, assuming that the opportunity has a proper sales strategy in place.
Convincing the leadership team to rebrand when you’re getting resistance can be a daunting task, but an evidence-based approach is usually your best bet. Do your homework, create a compelling value-based argument and work collaboratively with a branding expert to explore all of the possibilities of a rebrand for your organization. We wish you the best of success!