Note: a short, two post arc within a larger four post arc. He’s deep, that J…
How does one rebuild or redevelop his brand? What are the steps? (part 1a)
As promised in “Attract and Stick, Part 1” now available on AllBusiness.com, I’m starting a blog arc based on a series of branding questions I’ve asked repeatedly over the past few months. We’re going to start with the twofer, “How does one rebuild or redevelop his brand? What are the steps?”
There are lots of reasons for rebuilding and redeveloping a brand. Let’s consider three;
- the existing brand has become tarnished and now generates a negative impact in the target market,
- the corporation is losing market share and wants to re-establish itself in that market,
- the corporation is moving into new markets and wants to establish a brand in those new markets.
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How does one rebuild or redevelop his brand? What are the steps? (part 1b)
The second item is easier to manage, especially for product-based businesses. Again, a spokesperson high in management is required to come forward and state something like “You knew us before and you loved us. Here we are now and you’re going to love us again because…” followed by reasons which are significant, timely and relevant to the market. These reasons have to be tied to new product releases. These new products need to be best in class but not necessarily state of the art (unless their success in the market is a foregone conclusion).
Best recent history examples of this are Steve Jobs turning Apple around (twice) and Kodak as documented in CameraGuy Keeping me Honest.
The third is something I just wrote about, Intelligent Website Design: Expand Your Market. The goal here is to carry the existing brand’s recognition into the new market. It’s not necessarily a good idea to utilize an existing brand’s dominance of a given market because they can be viewed as upstarts in the new market. It’s much wiser to brand via stating “We’re known in that area, take a look at us in this area.” This method, combined with aggressive penetration in the new market’s traditional channels, is usually successful.
How is an updated logo/brand vital?
I think the only time it’s “vital” to update a logo or brand is when one of the situations I mentioned previously occurs. That offered, updating a logo/brand when moving into a new market is indeed vital because you need something that basically states “That’s my pedigree and I’m still my own person”. The best recent example of this was Toyota’s Scion campaign.
The other uses as stated above are pretty much the same case when it comes to updating logos and brands; the need to re-establish market presence. In these cases the goal of the rebranding effort is to state “I’m from that family but I’m not one of them.” This is the old western movie scenario of the outlaw’s son proving he’s a good lawman.
How do you know if your brand/logo is out-of-date? How do you tell?
NextStage did quite a bit of research on this very issue. We documented some and not all of our findings in A New Branding Paradigm, Online and Off. Your brand/logo is out of date when your target audience no longer responds to it.