Businesses face rebranding following Queen’s death
Heinz. Cadbury. Coca-Cola. Being household names isn’t the only thing they have in common. All three were awarded the Royal Warrant, and were able to display the Royal Arms on their products. Following the death of Her Majesty Queen Elizabeth II, these companies – and around 600 more – will have to stop using the Arms.
The Royal Warrant is awarded to companies that supply products and services to the monarch. For some holders, this will be the first time they have found themselves in the situation of potentially having to remove the iconic image from their products.
Businesses will have two years to remove them – unless King Charles decides to reissue the Royal Warrant.
This is just one of the ways businesses will be affected over the coming months by the passing of the Queen.
One of the biggest changes to come in during the next few years will be new currency bearing the head of King Charles. There has even been suggestions that the minting of new coins may see the end of the smaller denominations given the cost of producing them.
For now, all coins and notes in existence will remain legal tender – although there were already plans in place to withdraw paper £20 and £50 notes on September 30, unconnected with recent events.
The Bank of England has said an announcement regarding the change will follow the Queen’s state funeral. It is likely that the new currency will begin circulation with the existing coins and notes gradually being phased out over an extended period.
Similarly, there will be new stamps to supersede the ones showing the Queen’s head. New post boxes will also carry the King’s mark.
Countries across the Commonwealth, including Canada, Australia and New Zealand, will be facing similar transition periods.
The importance of rebranding
Although some brands are forced into rebranding, it is a vital exercise for every business to review their branding to ensure continued business growth. Moreover, if your business has been around for many years, you could be losing some of your initial sparkle and falling behind your competition.
If you’re just starting out in business then ensuring your branding reflects your company, its products and services and your values is a great way to help reach new potential clients and stand out from your competition.
Branding is critical for businesses of all sizes. It is your unique identity and what differentiates you from your competition. It leaves a lasting impression with prospects and increases your value, sets expectations and ultimately makes acquiring customers easier.
Keep it fresh
Reviewing your branding regularly ensures it stays current and plays a major role in how both your prospects and your current customers perceive your company. With the world changing so rapidly, you may need to implement change in your offerings and when you focus on these new aspects and promote them correctly, people will take notice.
Rebranding can provide the stimulation your business needs to create growth in an ever-evolving market. Consumer behavior changes and evolves. Your brand has to keep up to remain customer-focused and relevant. As technology advances, customer retention will be challenging. A new brand grabs attention and gets you noticed by your target audience.
As a company matures, it grows in the marketplace, evolves over time and may be something much different than what it was when it first began. The original identity could become more of a liability and hold the company back. Shifting emphasis puts the brand in a new light.
We are experts at working with startups and businesses looking to grow. If you need some help, get in touch for a no-obligation discussion and review of your unique situation. Our team can help reduce the guesswork out of it for your business, develop an appropriate strategy and help you achieve your business goals.