Is your organization under new leadership? Do you have some exciting new offerings to communicate to your audiences? Are you facing increased competition? Or, could it be that you’re in need of that Brand Audit we previously wrote about because you realize that your branding is a bit stale and out of touch?
Get it right the first time
If any of the above is true, maybe it’s time to start thinking about a brand refresh. But don’t rush the process. Since corporate rebranding may take significant time and resources, you have to be sure to get it right the first time.
A Rebranding Case Study-What NOT To Do
For a rebranding case study in what not to do, let’s take a look at Radio Shack. With a decades long history of catering to electronics enthusiasts, and selling radios, telephones and even some of the earliest home computers, the company found itself struggling against newer technologies and increased competition from online retailers. In an attempt to appeal to a new and younger audience, Radio Shack decided to rebrand under a hip new name – The Shack (with an expensive celebrity by the same name to hawk its brand).
However the new name, logo and celebrity endorsement didn’t sit well with their traditional customer and their new business model did not appeal to a younger demographic, or worse yet, compete with online retailers. So just after Memorial Day this year, Radio Shack announced that they were closing another 1,000 stores. Radio Shack lost its way. Taking the proper branding approach requires a full understanding of exactly what a brand is and what it means to the consumer. A brand is not simply a name, a logo, a website, or a Facebook page. On the contrary, it is the promise and delivery of an experience. It all revolves around a core purpose or reason for being.
Develop A Rebranding Strategy
It’s critical to build a solid rebranding strategy by asking questions, lots of questions, about your brand with current customers, brand zealots, prospects, staff, even the mailman. Start with the basics, but then dive deeper:
How have we changed?
How has the market for our products/services changed?
How are we positioning ourselves for the future?
Who is our competition and what makes us different from them?
What do our customers look like and what do they want from us?
And most importantly:
How do we connect emotionally with our prospects and audiences?
The Big Takeaway
If you find that rebranding might be the right decision for your organization, don’t be afraid to take the plunge… but make sure to do it right. Take the time to ask the right questions to the right people and develop a strategy that supports the goals of the rebrand. When armed with good questions and genuine insights, you can develop a rebranding strategy that leads to a fresh, meaningful and sustainable brand. And that’s a fact that might have saved The Shack!
Noreen Cahalane
Group Account Director/Partner
Noreen Cahalane is Group Account Director and Partner at Merz, a strategic marketing and branding firm in the Philadelphia area.
