branding, or re-branding, requires that key stakeholders are involved
in a democratic process to agree on what the new brand will be.
However, working with every stakeholder throughout the process is
simply impossible. Read this Research Note to learn how you can achieve
consensus on your brand.
Use Demand Metric’s downloadable Branding Selection Tool to help you provide choices for your stakeholders that are equally satisfactory for the brand champion.
What are the Key Branding Drivers?
- Mergers & Acquisitions – combining two distinctly different brands is perhaps the most difficult of all re-branding exercises.
- Entering New Markets – when new businesses are formed, or when old business units are spun off, organizations typically create new brands.
- Updating Corporate Image – organizations that have been in business for over 20 years often have a requirement to get their brand up with the times.
What Key Choices Need to Be Made?
- Mission Statement – your mission statement describes the fundamental reason you are in business. For example: to help our customers succeed etc.
- Vision Statement – this is how you envision your
organization and would like others to view you. Typically, vision
statements look to the future.
- Corporate Values – these are the core values that your organization believes in, i.e. Excellence, Continuous Improvement, Community etc.
- Positioning Statement – this aspect of your brand positions your product/service or company, correctly within the industry.
- Corporate Tagline – normally a very punchy 3-6 word sentence(s) that drives home your core messages. Be careful not to make this too generic.
- Logo – corporate logos are images that identify your organization.
- Understand Business Strategy – speak with senior
management to get a clear picture of where your organization is headed.
It is impossible to develop a brand when there is no strategic
- Build a Small Team – branding exercises can be
implemented much more efficiently if you have the right stakeholders
engaged each step of the way. Build a cross-functional team of 3-6 key
executives that can represent each of your brand constituencies,
- Gather Feedback – poll customers and employees to
identify how you are currently perceived in the market, and compare
this to how you’d like to be seen. Additionally, ask for suggestions
related to your branding choices.
- Narrow Down Options – take all the given ideas and
further develop them until you have 3-4 options for each brand category
that would satisfy Marketing & senior management. Go back to your
general audience with these options and vote for the winners.
- Make Branding Selections – use Demand Metric’s downloadable Branding Selection Tool to provide your stakeholders with 3-4 clear options for branding decisions. Tally up the results and re-vote if necessary
- Implement Branding Strategy – now that you have
your brand elements selected, develop, and implement your branding
strategy. This could include: updating collateral & the corporate
website, changing policies & procedures to accommodate your new
identity, and communicating to customers.
Effective branding requires input from all your key stakeholders.
Work to understand your organizational roadmap, build a branding team,
open the floor to suggestions, and achieve consensus on your brand.