When is the right time to rebrand? The exact answer depends on the unique position and culture of your organization, but the bottom line is that your brand and communications haven’t kept pace with who you are. But how do you know when it isn’t the right time?
Not too long ago, many thought of a brand as something that only attached to (and benefited) consumer goods: toothpaste, cars, detergent, or jeans. That began to change when savvy marketers realized that having a clear and differentiated value proposition, promise, and position in the landscape could be a leg-up for any kind of product, service, or offering—and could actually provide a competitive advantage at both the product and enterprise levels.
Organizations of all stripes got on the brandwagon—many of which, just a few years earlier, would have shied away from something so “vulgar.” Now symphony orchestras, museums, institutional asset managers, colleges and universities—and, as we all know, politicians—both embrace and actively attend to their brands. All learned that when a brand’s promise and meaning combine both rational and emotional reasons to care, products can be freed from the confines of being viewed as commodities; schools can better attract desired students; symphonies can raise more money; and all can extend and deepen constituents’ connections beyond the actual item or experience offered. Wrapping offering-focused messages within higher-level brand messages moves people from “I should do x” to “I really want to do x”—a good thing.
Brand went from being what differentiated cavity-fighting toothpaste from whitening toothpaste from all-natural toothpaste, to being the buzzword and must-have it is today. Organizations now focus both on their offerings, and the broader context of those offerings. They understand that the meaning, values, and affect transmitted by their brand can influence the choice between two offerings that provide similar features and benefits.
Still, this exultation of brand does not mean it’s a panacea for all that ails, or that attending to one’s brand—or more significantly, rebranding—is a sure road to success. While there are good reasons to invest in rebranding (see the first article in this series, “When change is necessary”), there are an equal number of good reasons not to. If any of the situations below sound like your organization, investing in rebranding may not be where your efforts should be placed.