Rebranding helps revive in recession

Is rebranding the key to weathering the recession and a way of injecting new life into an ailing business?

A new report commissioned by branding consultancy the Principle Group, surveyed 250 marketing directors of blue chip companies and UK business owners. The results were interesting to us to say the least. “85% of UK business leaders and managers believe that design will play an important role in generating a recovery for some, or all brands.” We at Masters Allen have had this view for a while, and have been advising our clients and local businesses over the last few months to take stock of their brand and design situation, encouraging them to be bold in these uncertain times by revitalizing and developing their business brands.

“56% of marketing directors of blue chip companies believe that a downturn could be the best time strategically to rebrand.” It makes perfect sense that when everyone in your industry is struggling, taking steps to evolve or reposition yourself as the market leader will give customers confidence in your business not to fail. Take Citroen as an example. The UK and European car market is in trouble, sales are drastically down and factories are in danger of closing. Citroen have chosen to take action and launch a new identity, ahead of a complete market repositioning that will see six new car models launched in the next three years. There is no better time for them to reinvent themselves, ready and well positioned for the market to get back on its feet in just a few years.

“63% of business leaders agree that the act of launching a new brand identity in uncertain times signals a bold embracing of change.” We couldn’t have put it better ourselves. Nobody wants to buy from a company on its knees. Show flexibility and strength, embracing change in the market. Consumers want a brand they can trust in these uncertain times.

From our experience, being seen to evolve your brand, reposition your core values, even expand or concentrate your market offering, is a sign of an active, focussed and thriving business. By showing this strength of brand character we as business owners can promote confidence internally in our staff and externally in our customer base. You never know, it may even give you the confidence to weather the storm!

Story source from Design Week, 12 February 2009

Tags: brand success, business advice, Commissioned report on branding, How businesses can survive the recession

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This entry was posted on Tuesday, February 17th, 2009 at 12:51 pm and is filed under Branding, Logo design, Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.