Think of rebranding like renovating a house. It’s about updating and refreshing the structure to meet current needs while preserving its core essence. The goal is to seize the right moment to reinvent and reposition, whether due to internal changes, external pressures, or shifting market landscapes.
Rebranding Today: Adding Value Through Realignment
In today’s dynamic market, brands must evolve to stay relevant. Rebranding is a strategic move that can redefine a company’s identity, making it more aligned with modern consumer expectations and business goals. It involves re-engineering your offering to add value from your customers’ perspective. This can range from a complete overhaul to a simple retelling of your story to better reflect current times and offerings.
No Easy Decision
Organizations often see rebranding as big, complex, and disruptive. At its core, rebranding is a strategic effort to align the brand with business needs. Defining what you are not is as crucial as defining what you are. The scope depends on how much realignment is necessary and how much is already in place.
Organizations tend to focus on costs rather than cost-versus-benefit. Hard costs show up on your P&L, while the cost of a weak brand does not. Identifying triggers for rebranding, such as organizational changes, new leadership, growth, and environmental factors, is crucial to justifying the expense.
Organizational Triggers
Significant organizational changes should lead to a re-examination of the brand to communicate the changes to internal and external audiences. A notable example is the Ontario Hunter Jumper Association’s (OHJA) rebranding. The OHJA faced challenges such as regulatory changes, increasing membership dues, and a competitive environment threatening its relevance. Under new leadership, the OHJA embarked on a significant transformation. Yield Branding helped reimagine the association’s mission, vision, and values, leading to a new strategic plan and comprehensive brand strategy. This revitalized the OHJA, enhancing member engagement and positioning the association for future growth. See OHJA’s full case study here.
New Leadership Triggers
New leadership can often be a catalyst for rebranding, as new leaders bring fresh perspectives and strategic priorities. This was evident in the rebranding of CPA PLI under its new CEO. Yield Branding was engaged to help articulate the organization’s value proposition and brand story, culminating in a new website designed to enhance member experience. This rebranding effort emphasized CPA PLI’s role in protecting and defending CPA firms, while also safeguarding the profession’s reputation and providing robust risk management education. See CPA PLI’s full case study here.
Growth Triggers
Growth often signals the need for rebranding. CIBC Canada’s rebranding aimed to reflect its new strategic direction and enhance its market position. The campaign, “Ambitions Made Real,” emphasized a human, emotional, and relationship-focused brand image, aligning with Canadians’ ambitions and values during and post-pandemic. Similarly, Kia’s recent rebranding shifted focus towards electric vehicles and a modern, innovative brand image, marked by a new logo and the slogan “Movement that inspires”.
Environmental Triggers
Environmental changes in the market can drive rebranding. A prime example is Dunkin’ (formerly Dunkin’ Donuts). The company rebranded in 2018, dropping “Donuts” from its name to reflect its broader menu and appeal to health-conscious consumers. This change responded to evolving consumer preferences and competition within the fast-casual dining sector. The rebranding also emphasized Dunkin’s focus on beverages, particularly coffee, and streamlined operations to better compete with brands like Starbucks.
The End and the Beginning
Rebranding is disruptive, but not doing it can cause more damage than taking necessary action. It’s about seizing perfect opportunities in a constantly changing landscape. Embrace the disruption for a brighter future.
