Measuring Rebranding Success
We believe that rebranding should always be considered an enterprise wide strategic growth accelerator and not just a marketing strategy. The obvious question then is "how do you measure our success?"
When it comes to value realization of a rebranding effort there is research published on what companies that have recently rebranded experience in terms of outcome. For example, our 2015 survey found that rebranding generated increased visibility and revenue growth:
75% believe it resulted in some to moderate improved sales
75% believe it delivered moderate to significant improved visibility and recognition
69% believe it delivered moderate to significant improved differentiation
63% believe it resulted in moderate to significant improved stakeholder and customer engagement
We have had clients, like a nonprofit organization we rebranded, that experienced 48% increase in donations two years after they launched their new brand.
In addition to tracking impact on yoru traditional marketing and customer metrics, we set some measures of the effort that seek to evaluate the output of the rebranding and the outcomes. Here are some important questions to ask in developing those metrics (we either grade them A-F or on a 1-5 scale):
Is the new brand essence discernable, ownable, differentiating, deliverable and does it provide opportunity for growth
Does the brand name convey a differentiating value, allow for a differentiating customer story?
Does the logo tell a story or visually reinforce the brand essence?
Does the graphic identity convey the brand tone?
Do the messages provide clarity, so they educate, and inspire action?
Do marketing efforts (website, social media, printed pieces, ads, PR, etc.) consistently convey the brand identity, tone and message?
Do employees deliver the brand promise in its unique tone, communications and behaviors?
Is there a differentiating experience that customers know we own and drives growth?
Is the rebrand inspiring new visibility in the marketplace that affirms stakeholder trust and attracts prospective stakeholder interest?
Is the rebrand delivering a measurable revenue increase?
Most importantly, discuss and set these metrics at the start of the initiative so that it drives your planning and execution...and provides a simple measurement template at its completion.