There may be many reasons for food and beverage marketers to consider a rebranding effort…some of them very good reasons and some of them “not so much”. If there is buzz within your organization about a possible rebrand effort, these tips may help inform the conversation.
What’s driving the conversation? The first and most obvious question is why do you think a rebranding effort is needed. It’s amazing how many brand owners stumble on this question. The answers often range from “it’s time” to the “new vision” of new leadership. The answer should lie in an assessment of the brand’s performance over time and its continuing relevance to its target audience. The decision to rebrand should be driven by insights into the brand’s consumers and market conditions.
What needs to be changed? Many brands proceed with changes on the assumption that any change will refresh the brand and energize core consumers. Changes are being driven by internal considerations and may hold little relevance or interest to target audiences. Unless a rebranding effort is undertaken to achieve a specific goal, change for its own sake achieves little. Worse case, the change may confuse or alienate the brand’s consumer base.
What’s the strategy? Here’s where you really need to roll up your sleeves and dive into the market analysis of your brand. A sound rebranding strategy is built upon an assessment of the need for change, opportunities within the brand’s product category, current consumer trends and tastes, and reasonable, achievable goals. Brand owners can have unreasonable expectations for rebranding when the strategy development process is short-changed.
How’s your timing? Rebranding should only be considered for successful brands that need a refresh to “up their game”. Brands that are in true decline, for any number of reasons, will probably not benefit much from a rebranding effort. Truly declining brands are usually indicative of deeper issues within the business and brand category.
