Thinking of Re-Branding?

Re-branding sounds scary – and for any company embracing the re-brand journey, it can be a daunting prospect. A month has now passed since we announced our re-brand so we look back at what we did and why you may possibly think of re-branding too.

Re-branding sounds scary – and for any company embracing the re-brand journey, it can be a daunting prospect. We started our re-brand journey at the end of 2019 as we decided that we wanted our brand to have a strong connection with our staff and our clients. Five years had passed since our last brand re-fresh and while our old brand was distinctive, we felt that the time had come for an update.

Getting our staff involved

We didn’t want the re-brand to be a secret within the office and while it’s best to limit the amount of people getting involved helping to avoid a “too many cooks” situation, we tried to make our staff feel as involved as much as we could. Before we even selected a brand agency to help us with our project, we devised a questionnaire which was given to staff to answer anonymously. They were asked things such as: what they thought about the company, the values it stood for, its good/bad points etc., once we had their answers, we used those to build our wider business strategy.

Brand Storming

The feedback we were given from our staff was useful as we were able to hear what they really thought. It allowed us to take their answers, along with our business strategy, to our brand agency so when we sat with them to discuss our thoughts and where we saw the re-brand going, we were able to consider the real values of our staff.  We talked with our brand agency who then went off and put lots of ideas together, and once they were ready, we were invited back to see them. The process was a really exciting time because you get to see the ideas form and develop. We narrowed the logo ideas down from 10 options to three or four so then we took them back to the office to discuss with the senior management team where we decided collectively which was our favourite option.

The process

Once we’d chosen our new logo and the colours, it was then left with our brand agency to pull together everything else, including our new website. Our marketing manager worked very closely with our brand agency and was on hand to ensure everything was going smoothly.

Ready for launch

We decided to take a soft approach (through our media channels) when we launched our brand, mainly due to the disruption of the COVID-19 pandemic. We thought about delaying the launch, however, it didn’t make any sense to delay it as you never know what’s round the corner!

Reasons to Re-Brand

The motivation for re-branding your company can be a combination of various factors. Here’s an overview of the seven most common reasons that we came across when completing our research and why you may consider re-branding:

  1. Mergers, Acquisitions, and Spin-offs

Changes in business ownership, such as mergers, ac­quisitions, and spin-offs, result in an immediate re-branding. The aim here is not only to make the change visible, but also to comply with legal and regulatory requirements.

  1. Repositioning

A change to the positioning and brand promise of a company has major consequences for the organisation. Re-branding makes this change visible for all stakeholders.

  1. Internationalisation

In some cases where the brand name is too specific to a particular country, re-branding is necessary so that it can also be used internationally.

  1. Changing Markets

At times, changing marketplace can pose a threat to the very existence of a company and they must reinvent themselves to stay relevant.

  1. Conflict With Stakeholders

Re-branding may be required when your brand is too similar to an existing brand.

  1. Outdated Image

Trends mean that over time brands come across as old-fashioned if they have not been updated. Hence a re-branding exercise may be carried out.

  1. Changing Brand Portfolio

When an organisation acquires different brands, it becomes challenging to maintain and promote all brands separately, and an umbrella brand may be required.

Peregrine Corporate Services is licensed by the Financial Services Authority.

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