Branding and Rebranding
It seems obvious that new business owners should make every effort to get their branding concepts exactly the way they want them the first time, right? This way, no major changes have to be made to the elements that support a brand later—for example, a name change or a new logo. As a marketing agency, we are amazed how many new business owners later look back and say they wish they had done something differently during the initial branding of the company, e.g. used a different logo or chose a different name.
Sometimes, this realization later just results in a little regret. But sometimes, it results in an extensive rebranding initiative. Rebranding requires more time, effort and money in addition to the time, effort and money already spent on the initial creation of the brand. A name or logo change, for example, could involve changing aspects of signage, business collateral, merchandise, the website, SEO, social media and more.
In past couple of years, there has been a controversy about the Washington Redskins changing the team name. Although the Redskins have been considering a name change for political reasons, the concept is similar to rebranding a smaller business. The time, effort and expense associated with a rebranding initiative make it a substantial project.
It is difficult to imagine everything out there with the Redskins’ name or logo on it—stadium signage, the football field, endless merchandise, the website, tickets, company paper goods, customized credit cards and license plates, social media platforms, icons, team uniforms, cheerleader uniforms, mobile apps, official fan clubs, fantasy football leagues, events that have been in planning for years—the list is infinite. It would take years for the Redskins to completely rebrand.
It is fairly common though for large, well-known companies with years behind them to go through a renaming or rebranding process to develop a more contemporary name and brand, i.e. the Washington Redskins. In these cases, the brand generally has an established customer base, and the company can effectively walk it through the introduction of the new branding concept. For a newer company that does not yet have an established brand and client base, however, a rebranding effort may not be as effective and might even slow down the growth of your business.
As a marketing agency that has led countless rebranding initiatives for clients, we leave you the advice you already know: Make sure your brand is exactly how you want it the first time to save yourself a lot of extra work, time, energy and most importantly – money – later.