CHICAGO, May 19, 2015 /PRNewswire/ -- Organizations which rebrand overwhelmingly experience improved visibility and product differentiation while 75 percent experience some to moderate improvement in sales, according to the Dixon|James Rebranding Success Survey. The study, which includes input from 32 organizations across all industry sectors which have rebranded over the past two years, finds that aligning internal stakeholders and departments is the biggest challenge to rebranding process success.
Full survey results can be found at http://www.dixon-james.com/xtra-xtra/?c=rebranding.
"Rebranding has become an increasingly common approach to recast relevancy and spur sales as it creates positive news and momentum for an organization," says Jim Heininger, founder of Dixon|James Communications. "With this study we are able to document the measurable outcomes of this business strategy and capture the best practices of rebranding to benefit others considering the approach."
Stimulating Growth Top Reason for Rebranding
While there are multiple reasons for rebranding, study participants ranked their primary motivations for rebranding as (in order):
- Create opportunity for growth
- Prior brand was no longer relevant
- Sale of company/New leadership
- Competitive pressures
"Rebranding should primarily be considered a strategic growth accelerator, creating a forward-looking organization better able to embrace future growth opportunities," adds Heininger.
Internal Alignment the Greatest Obstacle to Rebranding Success
Rebranding efforts can face many obstacles to their success and according to survey respondents the four most common are (in order):
- Engaging the necessary departments internally
- Creating culture change to fulfill new brand promise
- Engaging employees behind new brand
Rebranding Delivers Improved Visibility, Differentiation and Sales
The majority of organizations surveyed found that rebranding delivered positive returns:
- 75 percent believe it resulted in some to moderate improved sales
- 75 percent believe it delivered moderate to significant improved visibility and recognition
- 69 percent believe it delivered moderate to significant improvement in differentiation
- 63 percent believe it resulted in moderate to significant improved stakeholder and customer engagement.
About the survey sample: Participants in the online study have all rebranded their organization in the last 24 months and include technology, non-profits, health care, finance/real estate and insurance.
About Dixon|James RebrandingXperts Team
SOURCE Dixon|James Communications