Rebranding Cost and Strategy

Build Your New Brand Right

Although every brand is a blend of ideas, words, visual elements, and touch points, a solid brand is built around four key components:

Strategy — I know this is a cursed word, invoking images of “homework”, dry research, and dull reports. If it helps, call it a Directional Planbecause that’s what is needed. Based on client input, online competitive research, and customer phone interviews, the rebranding strategy assesses the strengths and weaknesses of past marketing efforts. If possible, you should identify opportunities for differentiation and improvement. A final document summarizes positioning and explains how your company is different and why customers and other key audiences should care.

Messaging — Your messages must take your rebranding strategy one step further. Determine specific benefits for products, services, and the company itself. Each message must directly support the positioning established in your strategy. Developing a messaging hierarchy establishes important messaging priorities.

Visual Identity — Your visual identity includes all of the visual expressions of your brand: including your corporate identity, website, sales literature, trade show graphics, advertising, signage, and more. With regard to color, shapes, images, typography and layout, consistency is key. Make certain that your brand’s visual components distinguish your company from similar competitors. By aligning your brand’s visual tone and attitude with your strategy, you build trust and engage potential customers for the right reasons.

People — A final piece of the brand puzzle involves how your people interact with customers. Not just tech support, but customer support, sales staff, receptionists, field engineers — everyone. With proper training every person in your company can provide a quality brand touchpoint.

How Long Will It Take To Rebrand?

How long will it take to create a new rebranding strategy? There are no simple answers. But you can identify the factors that could make the process take longer. Here are a few areas that commonly introduce delays:

1. The size of your organization (larger companies take longer)

2. The number of decision makers (fewer is faster)

3. The amount of research (online and offline) required

4. The scope and number of marketing deliverables

5. Whether a new name is required? (a separate process with its own methodology and schedule)

6. How responsive your management team is (a common source of delays)

7. How responsive your branding or marketing agency is

8. How involved your legal department needs to be

What Are Rebranding Costs?

How much does it cost to rebrand your company? Again, no simple answers. In general, larger companies spend more on rebranding strategy than smaller companies.

Research shows that the average B2B company spends about 5% of revenues on marketing. In that context, the average rebranding initiative costs about 10%–20% of the marketing budget.