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Rebrands Can Be Tricky and Expensive. Here’s How to Get It Right the First Time

About a year after its 2016 launch, Pencil realized its name was bad for business. Co-founder Sydney Liu would talk about the online storytelling platform to enthusiastic listeners at events–but would-be users, thwarted by a second-rate domain name (usepencil.com) and a barrage of unrelated search results, couldn’t find its website.

So, in 2017, the company, based in Menlo Park, California, decided to redo its logo, site design, and color scheme before ultimately relaunching as Commaful. The overhaul worked almost immediately. “Within a week, we were number one on Google for our name,” Liu says, and organic sign-ups began to increase.

Rebrands are fairly common for startups and small businesses that don’t spend the time (or money) in the early stages to get their messaging, logos, or even monikers just right, says Douglas Spencer, president and chief brand strategist at marketing consultancy Spencer Brenneman. Besides discoverability issues, “they can run into legal challenges,” he says, or “find themselves with a logo that just looks amateur.”

But change is expensive: Most small companies (with less than $30 million in annual revenue) can expect to invest $90,000 to $180,000 on a rebrand, according to marketing agency Ignyte.

Fortunately, there are ways to cut down on costs–and make sure your investment pays off.

1. Do your homework.

Serial entrepreneur Dan Demsky once had to throw away thousands of dollars of packaging because of trademark infringement issues, so when it came time to brand his latest venture (men’s travel-apparel site Unbound Merino), he started with the basics. “Memorability and ease of spelling,” Demsky says, plus “having the domain name.” He also hired a good trademark attorney.

You’ll pay $2,000 to $2,500 for a comprehensive trademark search and around $1,000 for the application, says Marc Misthal, a lawyer with intellectual property firm Gottlieb, Rackman & Reisman. Expect added costs, including extension fees, if the U.S. Patent and Trademark Office rejects your application.

2. Solicit, but limit, feedback.

Opinions are a dime a dozen, so while you’ll want to run your brand plans past some employees and clients, you’ll also need to drown out the noise. When content marketing software company PathFactory–formerly known as LookBookHQ–started considering a change to its name and logo in 2017, it limited the internal brand committee to five people.

“Keeping the decision-making committee as small as possible really helped, because everyone will have their own idea of what [the brand] should be,” Cassandra Jowett, PathFactory’s senior director of marketing, says. “Changing your company’s name is not necessarily a democratic decision. Not everyone should get a vote.”

Conduct customer research, but avoid simply asking people whether they like a potential new name, logo, or color scheme, says Emily Brackett, founder of Branding Compass, a web-based branding app for small businesses. Instead, focus on the value prop you would like your name, logo, or design aesthetic to convey.

“You could say, ‘We really want to come across as caring and compassionate,’ ” Brackett suggests. “Does this logo look caring and compassionate, or does this [other] logo look caring and compassionate?”

3. Have a rollout plan.

PathFactory officially announced its new name and logo at the 2018 SiriusDecisions Summit, a major event for the B2B marketing industry. “We tied it together with a product announcement to explain the need for a change in our image,” Jowett says. “The two together got a good reception”–and a lot of much-needed media coverage.

Prior to the official announcement, the company sent swag bags to select customers, and for months after the rebrand, PathFactory left messaging about the change on all its digital channels. Even then, “not everyone realized it was the same company,” Jowett admits.

Smaller-scale rebrands won’t require so many bells and whistles. But you should still communicate why you’re making a certain change, Brackett says. Messaging can come in the form of a press release, blog post, or email to your customers.

“You want to control the narrative,” agrees Bo Bothe, CEO of Brand­Extract, a brand strategy consultancy. “If you just throw it out there to the wolves, they’re going to tear it apart.”

4. Avoid second-guessing.

Once you’ve unveiled your redesign, expect some resistance to your changes. So don’t rush to backtrack if you receive immediate negative feedback. Chances are, the blowback will blow over. (See Slack’s early-­2019 logo redesign, below. The barrage of bad press ultimately dissi­pated.) Commaful had several users threaten to leave once it unveiled the new name and logo, though they ultimately stuck with the platform, Liu says.

“Keep in mind, the product is what matters,” Bothe says. “If the product is badass, the logo will become less relevant. As long as you’re not offending anybody, you’re probably fine.”

 If It Ain’t Broke…

When Nicolas Vandenberghe relaunched his software startup as Chili Piper in 2016, his wife and co-founder, Alina Vandenberghe, quickly designed a new logo and stuck it on the website. “It was meant to be temporary,” Nicolas recalls, but customers took to the little red pepper so much, it survived the company’s formal brand refresh last year.

Chili Piper hired a design agency to draft alternatives, but ultimately the New York City-based company realized “if we change the logo, our customers will go crazy,” Nicolas explains. “They love the logo.”

There are many reasons startups or small businesses rebrand, including copyright infringement issues and the lack of a competitive differentiator, says Brackett of Branding Compass. But founders should take a cue from Chili Piper and make sure they’re not trying to fix something that’s working.

For fledgling and cash-strapped businesses in particular, “there are so many people who haven’t fully learned about your brand,” Brackett says. “Don’t change it because you’re bored.”

 

Jeanine Skowronski Senior editor, Policygenius Magazine

 

Source: Rebrands Can Be Tricky and Expensive. Here’s How to Get It Right the First Time

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Rebranding your business can mean a complete overhaul of all of your visual marketing materials. This video can help you decide if your company is ready for this project or not. If you’re thinking about a rebrand, Visme can help you recreate all of your graphics. Try it free now: https://visme.co — There are many instances when your company might decide it’s time to start rebranding your business. The idea of a rebrand can be scary, but sometimes things happen and a rebrand just makes sense. In this video, Mike with Visme dives into a few of the reasons your company might be considering rebranding. Let’s take a look at what they are. Watch the video to see a few real life examples for each reason. 1. When your company merges with another brand. 2. When your company is bought by another. 3. When your company appoints a new CEO. 4. When your brand has acquired the wrong image. 5. When you want to reach a different audience. 6. When you’ve grown out of your initial mission. 7. When your brand needs to stay relevant. Does your company or brand fall into any of these categories? If so, it might be time to start thinking rebranding your business. However, you never want to take a project like that lightly. A rebrand is almost like a relaunch of your company in a more modern or different light, so you want to follow a rebrand strategy to a T. Learn more about our 12 step process for a successful rebrand in our detailed blog post: https://visme.co/blog/rebranding-stra… — The logos in the videos are trademarks of United Airlines, PriceWaterhouseCoopers, Verizon, Huffington Post, Instagram, Burberry, MTV, TNT, airBNB, and Apple. Visme claims no ownership rights in any of these logos, and has no affiliation with these companies. All use is intended to be informative the significance of brand design details. Sources: https://logos.fandom.com/wiki/United_… https://www.verizon.com/about/our-com… https://knowledge.wharton.upenn.edu/a… https://www.theverge.com/2015/9/2/924… https://www.fastcompany.com/1724731/a… https://www.huffpost.com/entry/huffpo… https://www.forbes.com/sites/fruzsina… https://www.huffpost.com/entry/huffpo… https://www.fastcompany.com/1673210/a… https://www.linkedin.com/pulse/compre… https://www.telegraph.co.uk/news/1469… https://www.wired.com/2016/02/mtv-wan… https://www.underconsideration.com/br… https://logos.fandom.com/wiki/TNT_(Un…) http://fortune.com/airbnb-travel-miss… https://www.underconsideration.com/br…

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Orange, red and yellow are generally what spring to mind when one considers October colors. But instead of rocking those autumnal hues, think pink instead. It is Breast Cancer Awareness Month after all. The use of pink to symbolize breast cancer awareness started in 1992, and came in the form of an overlapping ribbon. It was meant to show solidarity with those that have been impacted by the disease, which affects one in every eight women in the United States. Needless to say, over the years, the use of the color has evolved and it is now cast on a number of items…….

Read more: https://www.forbes.com/sites/barrysamaha/2018/10/04/fashion-beauty-brands-support-breast-cancer-awareness-month-pink-products-2018/#27e5e066d3cb

 

 

 

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