Justifying and cutting costs during COVID-19 has taken on a very utilitarian angle. If we can do without it, it’s going to go. Where companies and brands are cutting costs to stay afloat, spending money on a branding agency or rebranding during this pandemic seems almost insane. However, we’d like to field the thought that spending on rebranding your services or products during this pandemic might actually be more important or popular than you think. Rebranding in the era of COVID-19 can help reshape your brand to better suit the new normal and thrive in the coming years. Let’s explore how the cost of rebranding or engaging a branding design agency will justify itself in potential revenue that building a better brand can achieve.

Building your base

While many organisations and brands are tightening their purse strings, opening them (slightly) might pause many and question — do we really need this? Spending money to earn money is one of the ways to help your brand survive, and that comes in the form of reaching out to your loyal customers. Bear with us as we explain how spending money relates to building a good base. 

While people are stuck at home or have reduced outing times during this pandemic, traditional face-to-face relationships have taken a hit to prevent further spread of the virus. Brands/organisations that help take charge and connect like-minded individuals or their audiences around their brand values can help to positively increase brand perception and awareness. Fostering good relationships with your consumers goes a long way in supporting brands during hard times.

By spending on virtual events, small tokens/branded items or even shared spaces (online/offline), this shows consumers that they are valued and cherished. In turn, consumers are willing to support the same business through tough times. It’s a win-win situation for everyone.

Helping others around

While it may be hard to fathom McDonald’s and Burger King working together to help the other sell burgers, it actually came true. In September, Burger King launched a campaign —a  ‘Day Without Whopper’ where they stopped selling ‘Whopper’ burgers for a day in Argentina to increase sales of McDonald’s Big Mac burgers. This was done to support McDonald’s’s fundraising campaign where proceeds were donated to Children with Cancer. 

When it came to the pandemic in 2020, Burger King asked its customers to support independent food establishments and other fast food outlets to support F&B staff who were affected by lockdowns during lockdowns. Finding ways to give back especially when businesses are barely breaking even, shows that your organisation is there for the greater good. Some ways to give back can be as simple as raising awareness about a charitable organisation that needs more support or even donating to a cause. When it comes to giving, consumers can tell whether it’s for show or a genuine gesture.

Finding new avenues

Sourcing for new revenue streams is a high on the list right now. Where businesses were purely advertising on print or word-of-mouth, going digital is now needed to survive. Taking the time to explore social media and its potential audience is great especially when most, if not everyone is online and at home. By rebranding your online presence, you can start afresh and tap on digital marketing to open up new avenues. 

Crafting your online voice and story is a skill so definitely don’t skimp on that even though the temptation is tough to go for a lower quote. Ensuring that quality content and connections with your audiences are made, will create brand touchpoints that increase brand awareness and convert many. That’s how investing now in digital rebranding and storytelling will help your brand value grow in the new normal with COVID-19.

Justifying the cost

Be it engaging a branding agency or just a logo revamp, justifying the cost can come in the form of potential brand value. People don’t remember products, people remember the feelings, experiences and memories that accompany these products. It is hard to put a price on something that intangible, however, it is well worth the cost. Cost-cutting the wrong way can damage your brand and cost-cutting alone will not help growth in the long run. If you’re interested, we also have the Enterprise Development Grant (EDG grant) for branding projects to help defray costs. Depending on what you value, the cost of rebranding can be steep but if done well, will sow seeds that bear fruit for a long time. Contact us to allow us to justify this rebranding cost to you.