How leaders can make or break a rebrand Part II
Risk #4: Limiting your brand to the status quo.
When we guide businesses through a rebrand, we often use the phrase: zig while all the others are zagging. What this really means is that pivotal moments are opportunities to put any personal ego aside and be courageous enough to move away from the status quo.
Through the rebranding process, our strategists walk leaders and their teams through personal bias, assumed perceptions and even ego. Through collaborative exercises we help everyone in the room become more vulnerable and honest about the change that’s occurring as well as their hope for the future. It can be difficult for leaders to let down their guard and actively listen and consider thoughts, feelings and opinions from others in the room. But it’s vital to moving forward.
Similarly, many of these conversations are around identifying what truly makes a company unique. We uncover the “safe” answers, which often feel good but carry very little in terms of meaningful differentiation. Digging deeper, teams often realize they want to veer away from the status quo but are hesitant to dive in and make meaningful change. Status quo is the equivalent to not rocking the boat, however that also means not being noticed. Pivotal moments are an opportunity for leaders to plant a new flag, one that is bolder and more clear in its message. And in a world lacking truly different options, there’s never been a better time to zig. Doing so takes a certain level of humility and guts; not doing so creates the risk of rebranding without signaling meaningful change.
Risk #5: Not investing enough to successfully rebrand.
Rebranding is an investment in solidifying the future you want for your business. It takes intention, a willingness to embrace the change occurring in your business or industry and a commitment to invest in both time and communications to nurture your new brand. Those leaders who are not fully engaged in the rebranding process early on are also the most likely to limit the budget to effectively introduce and build consistency around your new identity.
Funding to support a rebrand begins with internal communications. Employees need to see and feel the new brand, whether that’s through a new tee shirt, new signage or a combination of tactics. Along with physical expressions, they also need to hear the reason for the new brand and how it impacts them. This is often done through a company-wide meeting, smaller sessions with department managers or even a celebratory event where spouses and partners are included.
Extending the brand rollout to your customers, suppliers and other partners should be considered next. This is often more of an investment in time to make sure these relationships are nurtured appropriately.
Finally, all other touchpoints should be identified and woven into a strategic plan to build consistency and help establish the new brand in the hearts and minds of existing and prospective customers throughout your market. Rebranding is a marathon, not a sprint and the budget needs to reflect this. Trimming or limiting the investment across any of these audiences or key touchpoints creates a risk of watering down the new brand before it has a chance to thrive.
One of the biggest challenges companies face during pivotal moments is leadership buy-in.
The CEO and all layers of management need to believe in the change that’s occurring and be open to collaborating with team members from across the organization. Without verbal or written support, physical engagement or participation in revealing the new brand, it becomes nearly impossible for new brands to endure.
Are you considering rebranding? Use the following questions to gain clarity around whether or not you, as the leader, are ready to embrace change:
Is there enough inertia for this? You’re going for cultural renewal and changing the conversation about your brand. Is everyone warmed up to this idea? They need to be.
Have you organized a Mars Team, or guiding group, to take this on?
Have you created the conditions where everyone can do their most courageous thinking — together?
Does everyone understand the process and the level of commitment and perseverance this is going to take?
Do you have the right balance of leadership and management on board?
At pivotal moments, rebranding is the most effective way for leaders to signal significant change. Are you at a pivotal moment? Drop us a line, and we'll be in touch.