The Synaxis Keystone Marketing System provides a phased approach to the implementation, rollout, and operationalization of marketing measurement tools, web tools, and communications tools.
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Will Your New Brand Destroy Your Company?
In the life of a company there are many times where the company or product brand doesn't fit. Sometimes the brand fit them at one time... sometimes it never did.
Bad brands are almost always the result of failing to give a small amount of attention (and money) to the brand in the beginning. Now that the brand has been established in a way that doesn't fit, they face spending much more money to correct the problems.
The Risk of Rebranding
One fairly obvious risk in rebranding is the loss of "brand equity". This means that significant changes to your identity can easily mislead, or worse, alienate your current customers. This can be as basic as changing your logo or name to the extent that your customers don’t recognize your company or product anymore. Or, it can be as complex as raising your prices so that current customers no longer want to buy from you.
This type of risk is primarily external. That is, this risk depends on what your customers will do. But, there is also an internal risk.
Changing your brand means that you are not only changing how your product or company is perceived externally, but you are also changing how you perceive yourself. With different perceptions come different expectations of yourself. And with these changing expectations come different ways of working. This can range from cultural shifts, such as dress code, to overhauling operations, possibly to lower product pricing.
Whatever the nature of the change, what started as a simple rebranding can create major upheaval inside your company. Rebranding is not just a whitewash, it is a deep reconsideration of your company's meaning and existence.
The Value of Brand Strategy
If you are considering a rebranding of your company, give careful attention to the potential effects of the rebrand. Speak to an expert brand strategist, one who understands the importance of managing change outside--and inside--your company. This meeting will lay the foundation on which to make all company decisions in the future.
