Rebranding: Sometimes You Need a Bigger Pot To Grow
Experienced plant lovers know that a plant will only grow as big as its pot allows. The pot size determines how far the root system can spread out, which is essential to ensure that the plant gets sufficient nutrients, air, and moisture to continue growing. Soil serves as the primary source of nutrients for roots and plants, so understandably a smaller pot with less soil contains fewer nutrients which means stunted growth. The size of the pot has a direct effect on the health, yield, and size of your plant.
The green thumb secret is backed by science. A study presented at the Society for Experimental Biology meeting found that doubling plant pot size makes plants grow over 40 percent larger.
It’s much the same way with people and their professional careers. Sometimes they remain in an environment where they have maxed out their growth potential. They need a new roomier environment providing space to grow and more nutrients to feed their advancement to the next level.
Rebranding is definitely the same way. A company’s brand is the promise it makes to customers. It’s the messages, associations, visual clues, and experiences that their customers regularly rely on to help make a decision for your product over the competition. It’s a trust mark. Many companies outgrow that brand pot over time. They’re trying to expand their services or product lines, reach into new customer segments or geographic markets. But their brand is stuck in the past and how the market perceives them isn’t supporting their ambitious growth plans. It is not fully reflective of the work they do. It’s time for a new pot, or make that a new brand, which is one of the most common rebranding strategies we see from clients today.
Want a more successful brand? Get to the root of the matter.
Rebranding is pursued to stimulate growth. It is the process of standing up an entirely new brand for your business, one that is more relevant to customers and will support your business plans with a forward-facing perspective. It’s not just a new logo or visual identity, that’s a brand refresh. A rebrand is the creation of a new more customer-centric promise focused on the benefit of an interaction with your product or service. It’s also a new customer experience, and a new employee experience, marketing strategy, and then a new name, logo and visual identity. A rebrand allows you to produce a more future-embracing brand that will support your strategic growth plans. It provides fresh dirt, full of nutrients, to feed the future.
When constructing a new brand to replace your current one, you should thoroughly assess how it should align with your long-term business objectives. It should be aspirational and focus on the outcome of the value you provide to customers. Not on the products and services.
Take that beloved plant that has reached its full potential and put it in a new pot. You’ll be amazed and its rapid growth. Hanover Research’s study of business executives found 78 percent rebranding had a positive impact on their company, while 81 percent say rebranding generates positive return on investment. A smart rebrand strategy will determine just how big of a container the company needs for the future, one not too small that it will soon again be thirsting for space, and not one too large that it is overpromising what it can deliver. And the new soil will fuel a new branded culture allowing roots to thrive.
If you feel like you’re existing brand pot is stunting your growth, quit wasting time and consider rebranding. It’s time to grow.