Measuring the positive impact of rebranding.
One of the challenges for many businesses looking to rebrand is establishing hard metrics to measure impact and return on investment. We always like our clients to come to a branding project with clarity on what these metrics may be, but for some businesses, tracking the short term impact of brand, clear of other influences can be difficult. This is an advantage retail brands have over almost every other category.
For retail businesses, rebranding and refitting their stores provides a set of clear; before and after metrics such as:
• Number of customers walking through the door;
• Average time spent in store;
• Number of sales;
• Sales total;
• Average ‘basket size’; and even
• Web traffic.
We recently spotted this rebrand for Jané Winestore Expo-Licor, a liquor retailer in Barcelona, Spain. This retail refit designed by SingularGlass and produced by OHM has markedly transformed the street presence and brand positioning of the business. I haven’t seen the data around impact on sales, but assuming they got the core audience definition half right, this highly graphic brand identity and retail design will have done the rest. The outtake; a well considered rebrand with strong storefront execution can deliver a positive return on investment is a surprisingly short time frame and turn-around business sales for the long term.
David is the founder of Truly Deeply, a brand agency with 25 years experience working with brands to position them for growth. His deep expertise is in the creation of high engagement brands that attract the attention of their audience and stand out from their competitors. David has extensive experience working with corporate, retail, food & beverage and entrepreneurial clients. Find out more here
For monthly updates of our thinking, click here to receive our free Brand Newsletter