Are you thinking about a rebrand for your store’s identity? Sure there are risks involved. There is, of course, the cost of the investment, but what about the way the rebrand will be communicated to your customers? How will they respond to this new identity?
I read an article, The Keys to a Great Rebrand: Advice From the Duo Who Revamped Chobani and Spotify, written by Matt McCue.
In the article, McCue shares advice from Brian Collins, CCO and co-founder of the branding company, Collins, and Leland Maschmeyer, CCO at Chobani and co-founder at Collins, for a successful brand redesign. They give 6 key points to consider.
A rebrand includes a redesign of your company’s logo. As someone who has done logo design in the past, I can tell you there is a lot more work and time put into designing a logo than you may realize. Then you’ve got revisions to typography, possibly colors, imagery, voice. It is an entire revamp of the advertising and marketing approach. It is not something you want to do just because it sounds good.
1. Be clear on why you need a rebrand
Maschmeyer suggests you are ready for a rebrand when you’ve run into at least one of the following being a core business problem.
- Your product commands a premium in the marketplace. Because it is more than a commodity, customers are willing to pay more for it.
- Your brand creates elasticity for your company. It allows you to move into new categories outside your core line of business?
- Your brand improves marketing efficiency and effectiveness. Logos and other visual branding should create an instant, positive reaction from your customers.
Chobani’s problem was in all three areas before they initiated a rebrand.
- The competition from other yogurt brands began to dilute the marketplace.
- Chobani was known for Greek yogurt, ONLY.
- Despite the competition to drive prices down, Chobani was spending three times as much as other companies on its advertising and marketing.
2. Dig deep into your history
Looking back through your timeline and archives, you just might find something you can use as an asset for your company’s future. Look for clues that can guide you on a more improved path forward.
3. Be willing to change your story
Spotify saw itself as a tech company. When they stopped growing, they knew they needed to reach a wider audience; those who were not necessarily into the music technology they offered.
Telling your story the right way is key. It may be a different approach to the story you’ve told up until this point, but it should not feel like a total change in history. It should feel like what you always wanted to say but didn’t know until now how to say it.
4. Connect what you’re doing to a futuristic idea – and leave room for others to join
Maschmeyer says, “I think that’s such a big part of corporate culture today where if you can’t own something — if you can’t put a moat of lawyers around it, and say, ‘This is ours,’ then you don’t do it. And I think that’s the completely wrong approach if you want to be relevant and have a positive relationship with the future. There are so many ideas of the future out there and they’re all competing with each other and desperately wanting support, sponsorship and the creative energies of the public to help those futures bloom and become mass ideas normalized into our everyday life. And so if a company says, ‘You know what? We really care about mass sustainable transportation. That’s what we’re going to.’ It doesn’t matter if there are 20 other companies devoted to that same vision. It’s a big vision that everyone can get behind and contribute to in their own unique way. That’s the thing — the vision should be shared, but how you contribute to that vision should be unique.”
5. Meet your customers where they are
In order to meet your customers where they are, you must do some extensive research on their patterns and behaviors. You will learn what voice they respond to and figure out new ways to reach them.
Spotify noticed when their followers were creating playlists, they were naming them based on moments, such as dates, events, happy days and sad days. Spotify began paying attention to this so they could connect with people at the right moments.
6. Get your key stakeholders deeply committed
Collins and Maschmeyer agree that the best work happens when companies are fluid and united as a team. Your key stakeholders need to buy into the idea and have a deep sense of ownership before they are willing to protect the idea.