A brand is one of the most important assets of a company. After an acquisition it is particularly important to define for your customers the brand that will serve them going forward. In some cases, the Company may want or need to begin “rebranding” to differentiate the value proposition in the mind of the customers.
A first step is developing a brand strategy. Do you keep the brands separate, absorb them into the acquiring company’s brand or create a completely new, consolidated brand? As you strategize, focus on the point of view of your most important audience – your customer. Look at your brand from your customers’ perspective:
- Determine your customers’ criteria for purchasing a product/service, their perceptions of your brand(s), and how they’ll be affected by the corporate change.
- Make your customers feel confident that the brands they love will be here for years to come. Develop marketing communication that provides a sense of security and outlines benefits to the consumer.
- Make sure everyone is on board. Employees, investors and other stakeholders need to understand the strategy and be able to impart confidence in the brand when speaking to customers.
There are many issues to address before, during and after an acquisition. Brand is an important aspect of a company that should not be overlooked.
Follow these guidelines to develop a brand strategy that supports your acquisition strategy and develops long term loyalty and brand adoption by your customers:
- Conduct market research to identify the consumer’s desires.
- Avoid brand confusion by developing a clear strategy that prioritizes the customer above everything else.
- Make a marketing plan with the goal of presenting the brand in a way that new and existing customers will find interesting and relevant.
To read more about issues surrounding acquisitions, click here.
Question: What's the biggest hurdle you’ve come across branding after an acquisition?