March 01, 2018
19 | Why you shouldn’t wait until you hit a low point to rebrand with David Lui
Why you’ve got to listen to this episode:
The saying “If it ain’t broken don’t fix it” may be one of the most dangerous sayings when it comes to branding. This can lead you to inaction, stagnation and irrelevance. If you wait until your brand is broken, fixing it may not be an option.
Most organizations decide to rebrand when things are not going well. Usually, this means sales are down, or you’re not attracting new audiences, or you have a bad image perception. Very few, look at rebranding before they hit that low point.
In this episode, I talk with David Lui, Vice President of Marketing for Mark’s at Canadian Tire Corporation. Mark’s is a 41-year-old company with 385 stores across Canada, thousands of employees and solid market penetration. David tells us why he decided to rebrand Mark’s even though things were going well and why you should consider that too.
David shares with us the details of the rebrand, how they launched it internally and externally and some of the aspects that is making this rebrand so successful since its launch in November 2017.
Who can benefit from listening in:
If you’re an organization that may not be hitting a low point necessarily, or you may be event doing well but you haven’t looked at your brand in a while, this episode is for you.
Just because things may be going well it doesn’t mean you can rest on your laurels. Your brand may be just fine but if you don’t ensure or don’t know if your brand is still meaningful and engaging to your audience, you’re at risk that someone else will fill that gap
Learn how one company is being proactive, looking at their brand with an analytical lens and ensuring they will continue to remain meaningful and relevant to their audience for years to come.
Key takeaways from this episode:
- If you wait until your organization is at a low point, it may be too late. You have to constantly ensure your brand is meaningful and engaging to your audience.
- Brand alignment has to come from the top. The organization’s leadership have to be the strongest brand ambassadors.
- Your brand has to be aspirational internally and externally.
- A brand needs to stand for something, give a sense of purpose and have a well-defined identity and personality that we can rally behind.
- If you don’t build trust and emotional connections with your consumers, you can easily lose them.
- A powerful brand empowers members of the team to speak the same language, share the same vision and move in the same direction together.
Links to resources mentioned in this episode
This episode includes a closer look at the new Mark’s Worn Well brand including the pillars, photos of the new redesigned stores, and a TV ad used to launch the new brand.
Thanks for listening
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