On average, organizations refresh their corporate brands every seven to ten years
These companies need to be careful: successful rebranding strategies are about more than just spending money on a new logo. In order to be successful, a brand needs a team of experts who know how to marry strategy with a sleek new look. This can involve a large monetary investment, but it is worth it to avoid backtracking on a rebranding strategy, which is costly to both a company’s reputation and to its pocketbook.
Avoiding the money pit trap:
- Rebranding is more than just a logo: retail and restaurant chains should focus on interior refreshes that support the new brand. Brand consistency is key to success.
- Make sure signage makes sense: logos should be large, clear, and well-placed so they are easily recognizable and tell a story on a sign.
- An over-arching comprehensive plan is critical: Brand implementation is all about building one over-arching strategy-based plan, setting clear objectives, developing a realistic schedule and getting the right people involved at the right time – all heading in the same direction.
When it comes to rebranding, there’s no room for mistakes, but a rebrand can deliver great results if carried out successfully.