Before we begin, let us briefly touch on the definition of branding. No, it is not literally “branding” your logo on company collateral and merchandise. It is a little bit more detailed than that. Branding can simply be defined as the process involved in creating a unique name and mage for a product in the consumers opinion, particularly through consistent marketing campaigns and strong imagery ad messaging through advertising. For more on branding please click here.
Back to the topic, a lot changes during the course of existence for businesses and at times brands get stuck in a rut. And the scariest part about this phase in a company’s life span, management at most times is unaware. Kindly go through the questions below to see if your company is facing some familiar traits, you may need to rebrand!
- Let us have a look at your logo. Is it outdated; maybe it no longer represents the vision you had for your company. Or is the logo in question too familiar to an already trademarked logo? Rather than have to deal with legal fees or confuse existing and potential customer, we suggest you get that sorted out with a swift rebranding strategy. Take for example the recent change in the First Monument Bank (FCMB), their logo changed in colour due to a new direction and a repositioning strategy, have a look here for more.
- Speaking of customers, has your brand been through an unpleasant experience? Are you being blamed for poor customer service or are your core customers suddenly disinterested with your products and services? Or maybe there has been a shift in your target audience, your products and services has gained a new following, even more so than the old following (repositioning). It is best to rebrand as soon as possible, remember those most important to you in the line of business, your customers.
- Has your company undergone any recent changes in management? Any latest mergers or recent acquisitions, or maybe there has been a demerger. A case like this usually calls for immediate rebranding to develop an entirely new brand. Think about when Bank PHB became Key Stone Bank Nigeria or when Zain becoming Airtel Nigeria. Each time the company had to take on a new logo, new colours, imagery and direction.
- Going global? With venturing into unfamiliar territory companies usually create a rendition of their original brand that would best resonate with the culture of the people. For example MANGO the Spanish fashion house arrived in Nigeria in 2010 with the same retail products but a slightly different logo.
- A change in brand portfolio can also warrant a need to rebrand. What if your businesses products and service capabilities has changed over the years? What if you want to be known more for a particular service other than what you started with or are known for. Rebranding does not demand drastic change, but bear in mind housing many brands under one business can incur costs or worst confuse and alienate your loyal customers.
So have a think on each point touched upon in the post. Do you need to iron out the kinks in your business and pubic brand perception? If you run an SME or Start Up, you are in luck. Ellae Creative is glad to announce “free consultations” in branding, new media marketing and market research that lasts a week per appointment. It is easy to take advantage of this seasonal offer; all you have to do is simple sign up to our newsletter and send us a message before Friday July 31st. To further inquire about our services, click HERE and schedule a sit down with our readily available team of experts. Remember to always trust Ellae Creative; we have always got you covered!