When it comes to rebranding, below are four common mistakes companies can’t afford to make:
1. Lack of an over-arching comprehensive plan: Brand implementation is all about building one over-arching strategy-based plan, setting clear objectives, developing a realistic schedule and getting the right people involved at the right time – all heading in the same direction.
2. Not having one overall brand champion: It’s critical that one brand champion owns the overall initiative to ensure there’s open and ongoing communication and that the project is implemented consistently across every market and country.
3. Lack of a centralized process: An effective rebranding effort needs to be managed centrally to ensure consistencies and efficiencies are achieved across the board. When decentralized, there are too many variables that can’t be controlled.
4. Not having full support and buy-in from executive level: Securing buy-in from key executives is critical to a successful rebranding initiative.
On average, organizations refresh their corporate brands once every seven to ten years. Since branding isn’t a core competency for most companies, bringing in a team of rebranding experts who do this type of work day in and day out can help a company ensure the rebranding goes off without a hitch.
With so much at stake, including your company’s reputation and bottom line, there’s simply no room for mistakes when it comes to rebranding.
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