A rebrand may encompass a fresh visual identity, marketing messages, digital assets, and all changes to a company’s brand and how it is portrayed at each touchpoint with a customer. The job of the project manager doesn’t end upon the new brand’s launch. They also have to demonstrate whether the investment resulted in quantifiable value.
Since the impact of a rebrand can be both short-term and long-term, the ROI of a rebrand can be challenging. Some results may be directly linked to revenue; others may be manifested in increased recognition, customer trust, or increased employee confidence. It is best to establish specific goals at the outset of the project and to monitor them over time.
Start With the Business Reason for the Rebrand
A rebrand should address a clearly defined business problem. The company could be suffering from a lack of positioning, low recognition, inconsistent messaging, or an inability to reach a new audience.
For instance, project managers should understand the primary motivation for the rebrand and map it to clear and measurable objectives. It would be worth keeping an eye on the changes in audience demographics if the goal of the project is to draw in a younger customer base. If it’s focused on expanding into a new market, your lead generation and regional sales may be more applicable.
In the absence of a business case, it is challenging to know if the rebranding has been successful. Attractive design alone is not a return.
Establish a Baseline Before Launch
The performance should be measured prior to any new branding. This is to establish a level of performance that can be contrasted with a post-launch performance level.
Baseline data can include website traffic, conversion rates, direct searches, customer acquisition costs, social engagement and customer retention. Project managers should also track sales performance, prospect quality, and the time taken to move prospects down the sales funnel.
Qualitative research can help to add some context. Customer surveys, interviews, and internal feedback can help to understand how the current brand is perceived and where there is confusion or dissatisfaction.
If a team has a good baseline, there is no need to rely on general impressions following the launch. It provides a clearer picture of what really changed for decision makers.
Track Brand Awareness and Consideration
Not all of the positive effects of rebranding will be evident in the numbers. Commercial performance improvements may not occur until changes in awareness and perception take place.
Surveys, search data, website behavior and social listening can all be used to measure brand awareness both before and after launch for project managers. They can also determine whether more people are familiar with the company, know what it does, or find it of interest.
Branded search volume is especially relevant as it indicates if there is more interest in searching for the company by its name. Increased mentions on the site and organic mentions can also be a sign of higher recognition.
These indicators shouldn’t be viewed independently as revenue. They can, however, reveal if the rebranding is setting the groundwork for future growth.
Connect the Rebrand to Commercial Performance
When rebranding, the resulting financial consequences must be compared to the cost of providing the rebrand.
Design agencies, research, signage, packaging, employee training, and replacement of materials may be included in the project costs. Project managers need to work out the total investment and not look at creative fees alone.
They can then see how this expense matches up with shifts in its revenue, conversion, AOV, customer retention and acquisition efficiency. An effective rebrand can help the enterprise attract better-qualified leads, curb client confusion, or justify greater costs.
For example, project managers should not assume that all the improvements were a result of the rebrand and should be wary that other factors may also have contributed. The effects of market conditions, product launches and advertising activity can also impact results.
Measure Internal Adoption
Whether a rebrand is successful or not, employees are an important part of the equation. Without proper internal understanding of the new positioning, customers will likely receive mixed messages.
Project managers can monitor training completion, employee feedback, and implementation of new templates and brand guidelines. They can also determine if the new language is being used properly by the sales, marketing, and customer service departments.
Better employee knowledge can result in more streamlined content creation, more uniform communication, and a clearer customer experience. These are some of the many operational improvements in the rebrand.
Review Results Over Several Timeframes
Don’t evaluate a rebrand solely on the first couple of weeks after it launches. Some customers experience a short-term disruption as they adapt and teams switch out the old materials.
Project managers need to check the results periodically, e.g., at three, six, and twelve months. This allows the results of the launch to be distinguished from the subsequent shifts in awareness, customer behavior and revenue.
When it comes to the end of the ROI assessment, the financial results should be paired with brand, customer and operational metrics. Rewriting a successful rebrand isn’t just about making it look better. It is one that empowers the organization to communicate more effectively, compete more successfully, and achieve a quantifiable business value.
