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Branddesigns
Rosalind Russell reviews the value of a brand and the benefits – and risks – in changing it.
I
f it works, why change it? This argument works for those of us stock piling our incandescent light bulbs in a small act of defiance against the EU diktat. However, estate agents stubbornly clinging to the old and familiar are likely to find
themselves swinging in the breeze as they are overtaken by more dynamic rivals. Heritage is good; history is not so good. Even firms with a strong identity need to paddle faster to compete in these uncertain times. Relying on a brand name which goes back to the Crimean War isn’t going to cut it with clients who are looking for an efficient, modern service. Rebranding isn’t a cheap option, but a
successful roll-out can result in huge benefits. Not just an increase in image awareness, but a shift up the market to higher end property.
Winkworth, with 88 franchised offices,
is a strong, instantly recognisable brand name, but they decided to launch a rebranding process at the start of the recession. Still ongoing, some of the cost was subsidised by the franchisor. However, not all the franchisees were 100 per cent sold on the idea, or the expense. Says Winkworth Marketing Director
‘Subtle changes in colour strengths and fonts updated the signage and
stationery and reinforced the brand, along with using local landmarks in advertising.’ ROBIN BRYANT MOBAs
Amber Rampley; “I had to really work hard to get it through because people were cautious. I had to do a lot of convincing. People said, ‘it is a strong brand, why change?’ and I understood that. But you have to keep a step ahead. We have real heritage – we are celebrating our 175th anniversary this year – and a good reputation, but certain elements were getting a bit tired.” After inviting five rebranding agencies to
pitch for the job, they decided on a small company called Frost, a company which they already knew. “We still had to be recognisable as
Winkworth, but with a clean and contemporary image. We wanted to keep the corporate colour palette, but the font – which had been quite chunky – was made thinner.”
PROPERTYdrum NOVEMBER 2010 15
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