Boost ROI on Your Rebranding
Rebranding is no small decision, but it might be the necessary next step for your company. The reasons why now may be the right time to rebrand will vary for each company, but (spoiler alert) if you're considering a rebrand, there's a good chance the time is now.
Given that it is a big step for your company, it's important to be sure that you get the best return on your investment (ROI) when it comes to your big new rebranding. Even though your staff and Twitter followers will love your new look, getting into the hard data afterward to show that your investment is paying off can be a challenge.
To make the process smoother, take these invaluable steps before you get started with your rebrand.
Be strategic. What outcomes are you seeking? Is your goal to attract new customers? To outflank the competition? Branding is more than a logomark. It's a carefully planned customer experience that you deliver through every customer touch point from your website to your sales representatives.
Accrue goodwill. Start with focus groups, telephone interviews or surveys that include employees and leaders as well as current and past customers. By getting specific feedback on perception gaps and opportunities, you'll deliver rebranding that resonates.
Track results. Was it worth it? If your goal is new customers, use metrics to track new versus returning visits to your website. If the objective is greater customer loyalty, track and report number of website visits per person. You can measure prospect to sales conversions as well as brand lift (likelihood to recommend) with on-line exit surveys.
Think of it this way: You'll never be able to effectively measure the success of your new brand if you didn't establish the full picture of where your company was with the existing brand. Set your starting point and dream big—once you rebrand you'll feel ready to take on the world and you'll need to be ready!