Question

Topic: Branding

Rebrand Cost And Cost Breakdown

Posted by cameron12321 on 9/23/2016 at 11:52 AM ET 250 Points
Hi my name is Cameron and Im a marketing student in San Diego. Im doing a project on rebranding and am having trouble finding some sources to back up my proposed spending plan for my projects rebrand. What Im looking for is anything that shows me how much a company spent on a rebrand campaign and where the money was actually spent (ex new signs, new posters, radio spots etc etc...)If anyone knows has anything like this or can point me in the right direction that would be great!
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  • Posted by mgoodman on 9/23/2016 at 1:20 PM Moderator
    The examples you're seeking won't be of much help unless you have more specifics on the rebranding project: Why rebranding? What industry? What market? What is competition doing? What is the objective? What does success look like? Who is the target audience? Where? Current brand image? Desired new image?

    For example, if the brand is a local retailer in San Diego a case study for a multi-national tech company, or a European chemical company, won't have much relevance.
  • Posted by cameron12321 on 9/23/2016 at 1:31 PM Author
    roger that mgoodman! heres some specifics the industry is insurance, the market is louisiana and texas, the rebrand is happening because one of the companies that they broker for acquired another insurance company so the broker wants to take this opportunity to let customers and existing clients know that they offer even more choices for all their insurance needs. i hope this is enough details to get the ball rolling
  • Posted by mgoodman on 9/23/2016 at 1:42 PM Moderator
    Thanks for the additional information.

    I question whether re-branding is the right strategy for this objective. Presumably the company has a relatively strong brand among the target audience now. They've invested in that brand over the years, and the target audience and core benefit haven't changed. Surely there must be a way to keep the current brand and simply promote the new insurance company as a member of the family ... if they have reason to believe the target audience cares.

    The problem would occur if their current brand is tightly (and literally) aligned with the old insurance company. Even then I'd be careful about throwing away the current brand image in the marketplace.
  • Posted by cameron12321 on 9/23/2016 at 1:51 PM Author
    i see what youre saying. maybe im using rebranding the wrong way. i guess it would be more like an ad campaign but still update the existing feel of the brand. i need to make a tiered pricing plan like gold package gets A new window signage B radio spot and C mailer campaign, silver gets B and C, and you get the gist but i need existing data to back up why i want to charge this for that.
  • Posted by mgoodman on 9/23/2016 at 8:44 PM Accepted
    Start with the objective: Is the objective to let the customer base know that the new company's product is now part of your mix? If so, then the task is pretty simple: just let them know that there are more options than ever before.

    I question whether consumers really care how many different companies you represent. As long as you can satisfy a customer's needs, that's all they really care about. So before you make yourself crazy with options and advertising programs, make sure the target audience has value for what you are about to tell them. Is the new company's offering worth spending time and money on? Or are you better off keeping the current benefit promise front-and-center, and letting the salespeople introduce the new company's product if/when they think it's in the customer's best interest?
  • Posted by Shelley Ryan on 11/14/2016 at 5:47 PM Moderator
    Hi Everyone,

    I am closing this question since there hasn't been much recent activity.

    Thanks for participating!

    Shelley
    MarketingProfs
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