Our clients rely on us to guide them through a complex process that touches each and every aspect of their organization. The company-wide implementation of a new brand identity can have significant organizational, financial, and political ramifications. If you’re in charge of your company’s rebranding process, cost control will be a primary concern. Here are three ways that BrandActive’s financial analysts focus on creative ways to optimize our clients’ budgets for new branded assets.
Focus on Scope
First, you’ll need to scope the project thoroughly and properly from the start. Your focus should be on gathering and analyzing all relevant data. From the initial audit of branded assets to the documentation of all affected divisions and geographic locations, a comprehensive project scope will lay the groundwork for accurate budget development and cost-effective (as well as task-efficient) implementation strategies. We support our clients with industry-specific asset lists and other tools and templates that are customizable for your project.
Develop a Savvy Asset Replacement Strategy
Since brand implementation involves replacing all physical assets carrying a brand name or logo, you’ll need a smart approach to asset management for signage, ID badges, business cards, merchandise, uniforms, and more. Rather than discard all existing branded assets, for example, your options are to consider retrofitting (where appropriate), neutralizing (remove the old brand and leave the asset unbranded), replacing incrementally (discard the old and replace with the new), or depleting and replacing (introduce the new brand once the existing assets are consumed).
An Olympic Approach to Cost Scenarios
In the more expensive branded asset categories (particularly signage and fleet), you’ll want to evaluate a range of cost scenarios with your organization’s branding and budget objectives in mind. In other words, to achieve maximum brand impact commensurate with your budget, consider which of the above-mentioned strategies is most appropriate for each branded asset category. Having a good handle on your options (we generally propose gold, silver, and bronze scenarios) will enable you to make the most fiscally sound decisions.
In sum, your commitment to a comprehensive scoping process and financial analysis will support the development of a brand implementation strategy that will best serve your brand impact and brand compliance goals while keeping costs under control. Learn more on our website and by reading the BrandActive blog, and join the conversation on LinkedIn, Twitter, and Google+.