Want to grow your business? A rebrand can work wonders

Posted: 24 Jun 2019
Estimated Read Time: in 9 minutes

Looking to grow your business? A rebrand can work wonders

Want to grow your business? A rebrand can work wonders

Change is unavoidable, which is why some of the most successful businesses in the world have learned to adapt to new developments in technology and consumer interests. These can be tiny amendments to a logo or major overhauls to the business model.

If you look at the logos of global brands such as Starbucks, McDonald’s and Lego over the years, you’ll see an evolution of change. While it’s important to stay true to a brand’s identity, don’t believe it needs to remain the same forever.

Talk to your customers

It’s important to review your brand to understand what needs refreshing, where the business could do better and how it currently appeals to the modern consumer.

However, don’t change for the sake of change. If you believe your brand is in need of a new lick of paint, it must be clear why. The consumer has to be at the heart of every decision the company makes, so analyse what they’re looking for, where the business could provide for that need and execute a clear vision that will lead to growth rather than confusion.

There have been many costly rebrand failures over the years, most that weren’t needed and didn’t make sense to the public. This is the epitome of failure within a business transformation.

Royal Mail decided it would change its name to Consignia with a brand new logo to match. Consignia means to deliver and entrust, but nobody understood that and the change simply wasn’t needed as Royal Mail was already nationally recognised in the UK. A costly mistake.

However, if a rebrand is done well, it can lead to significant business growth.

Smell the coffee

Steven Prime first opened Esquires Coffee House Coventry in 2008 and realised that while the business was doing well, there was room for improvement.

He explains: “When we opened our shop in Coventry, our goal was simple: to deliver amazing coffee and food in cool environments ethically with remarkable service. We were doing a pretty good job, but we knew we could do more.”

“Together with Esquires’ marketing team, we spoke to our customers and soon realised that to maintain relevance a relatable image and offering was key to our longevity.”

The Esquires Coffee network underwent a rebrand in 2015 and Steven is pleased with the reaction from the public.

“The result was a rebrand that brought a confident modern spin to our store design and logo, as well as unity and a strong emotional connection with coffee lovers through new products and ethical initiatives,” he says.

“We now offer healthier options, fresher foods, our own Fairtrade and organic arabica coffee and try to source our products locally.

“We also engage in several charitable initiatives that support both our local and coffee growers’ communities. Over the years our brand has evolved, as have our cafes and food and beverage offerings, but our ethos and aspiration remains true.”

LEARN FROM THE BEST

If you want to learn more about how you can transform your business, attending the bfa annual conference on June 27-28 at The Vox in Birmingham will provide you with the opportunity to hear from industry experts on how to re-establish your brand.

It’s an unmissable event, providing interactive franchising panels and educational workshops to help you prepare your business for the next generation in franchising, focusing on culture, technology and change management.

For information about tickets visit www.thebfa.org/events/ annual-conference-2019

The author

Pip Wilkins is CEO of the British Franchise Association

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