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Apple and Starbucks did. Should you?

Rebranding

Last night’s topic on #WedBizHour was all about re-branding and knowing whether or not the time is right or not. When you first start out in business you don’t really have a brand as such. Your brand grows and forms organically over time as you develop your products and services. It may surprise you to know that Apple has done it 3 times, Starbucks 4 & Pepsi 11. In fact even the fabulous James Bond franchise has undergone this exercise no less than six times.

The brand you started out with may not truly reflect the brand you’ve become. Re-branding happens in the life of every business at some point. The tips below are some of those we shared during #WedBizHour but to read the full transcript please click here…

  1. One question to ask is whether or not your logo looks dated. It might have looked good 10 years ago, but what about now?
  2. Does your brand accurately reflect who you are & what you do? Is your branding consistent across everything you do?
  3. What is the purpose of your re-brand? Is your problem your brand or your marketing?
  4. Don’t get emotional when re-branding. You need to be rational. A re-brand is about fixing problems not reinforcing old.
  5. Is your brand story outdated? Are you connecting with your ideal client with your brand message?
  6. Do you clients want to own a part of your brand? Are they willing to spend more to be or have a part of it?
  7. A good way to evaluate your re-brand is to look at the focus of your brands promise to it’s clientele.
  8. There is a reason why the iPhone & iPad are more expensive – Apple promises something unique to is customers.

These two Academy TV videos will help to give you some perspective, Knowing When it is Time To Re-Brand and The 5 Steps to a Successful Re-brand.

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