Rebranding can be a risky business. It’s more than just a fresh coat of paint on your company brand, it also signals your organization is embracing a new way of doing business. Plus, your current brand already has recognition and market share, so it’s important not to throw out the good with the bad.
Change can be scary, but it’s often necessary – especially as markets can be quick-moving and volatile. Learning from common rebranding mistakes can help your company jump big pitfalls and make the right moves. Here are the seven mistakes you need to avoid in order to successfully rebrand:
1. It’s more than a name (or logo)
Too often, a brand is confused with its physical markers: its logo, name, website, or culture. Slapping a new mascot on your company won’t fix all of its problems – and might even make them worse.
When the Italian restaurant chain Olive Garden began struggling with sales, it seemed like a perfect time to rebrand. Unfortunately, the new logo came under fire as soon as it was unveiled. Critics argued the new logo didn’t really fit the company’s existing brand and it failed to tell the company’s story.