Welcome to the second in our blog series about considerations and criteria for implementing a successful corporate rebrand strategy. In last week’s blog article we discussed how the specialized expertise of today’s MarCom managers contributes to executives’ ability to make sound business decisions. This week we discuss the importance of arming executives with the data they need to get behind your proposed strategy for the implementation of a successful corporate brand change.
Brand change might begin with the development of new creative (typically a new logo and/or name), but the successful execution of a brand implementation strategy is where the rubber hits the proverbial road. We’ve all witnessed many cases where brand identity “mismanagement” has cost companies millions of dollars and required quick-footed triage on the PR front.
Corporate rebrands are relatively infrequent and generally occur approximately every 8-10 years, and institutional knowledge surrounding the previous brand change may not exist. If you anticipate a brand change in your company and know your team is responsible for creating and presenting strategy and cost estimates to executives, consider these tips to gain credibility and their eventual nod of approval:
Present Benefits & Risks to Gain Credibility
Executives need to be persuaded of the benefits and outcomes of the brand change and ongoing brand management, so be sure to demonstrate anticipated benefits while being upfront about risks. Your role is to educate management about the need for risk management plans to deal with potential risks to budget and schedule. These risks can include internal resistance, signoff delays, brand rollout missteps, and even consumer backlash. Clearly, marshalling the right multi-disciplinary resources (either internal or external) that have the right skills, experience, and available bandwidth to commit to the project, will be key to your success.
Identify and Document All Your Corporate Brand Assets
Did you know that it’s not uncommon for a company to have brand assets that number into the thousands? Key to budget control is accounting for them all—from the start—to enable accurate scoping. Know what you have, how many there are, how they will change, and then calculate the rolled up costs for implementation.
Help Executives Connect the Dots
Don’t assume that anybody at the boardroom table knows what’s really involved in a brand change and implementation project; this is where your consulting partners and vendors can arm you with valuable benchmarks and best practices. Execs typically don’t have time to get into the nitty gritty details, but will likely not give approval to move forward until you’ve outlined high level cost estimates and timeline scenarios. Help them see the big picture by tying costs to specific milestones. Because of the complexities of these projects and the specialized skills required to execute them well, many companies outsource brand strategy, creative development and implementation planning and execution of the rollout. Be sure not to omit these costs when developing estimates for presentation to the executive team.
Contact us with your questions regarding brand asset management and brand implementation services. Following our LinkedIn company page will tune you into our next blog article, where we dive into the details of identifying and documenting branded assets.