Jones and Palmer is nominated in this year's Corporate & Financial Awards. Evie Luxton discusses rebranding in the midst of corporate change

In today’s society, brand is fundamental. With technological advances and the networking effect pushing down prices and reducing margins, it’s more important than ever to consider your corporate brand as your most valuable strategic asset.

Purpose-led employment is starting to connect with far more individuals than the promise of a pay packet at the end of the month. Financial reward isn't always enough to attract and retain top talent. Consider your corporate brand as it stands today... does it have an overarching cause that rallies your staff into positive action? It should be your north star, guiding your business activities and behaviours.

How do you know that a rebrand or brand development initiative is required? Recognising that a rebrand is needed can be half the battle. However, there are some common trigger points where you should review your corporate brand strategy or undertake a brand development exercise:

New leadership of your organisation: When there’s new leadership, it can have a fundamental impact on your organisation, as they are responsible for the vision and strategy. Reviewing your brand strategy will be necessary to reflect on whether changes are understood by all stakeholders.

New divisions or segments and spin-offs: When there are new divisions or segments and the organisation is changing what you do and what you are known for, a brand exercise will be necessary. For example, a new division may increase the offering and a rebrand will be needed to shift perceptions.

Repositioning your organisation in preparation for mergers, acquisitions or divestments: Your organisation may need to rebrand prior to any change to prepare for a new strategy and vision. For example, a divestment may change the structure of your organisation which would need to be reflected externally in order to create the correct perception.

Repositioning your organisation post-mergers, acquisitions or divestments: Post-acquisition, there could be a change to your structure. It needs to be clear that the acquisition has occurred and how it has changed the organisation. A new brand will reflect this effectively and demonstrate the shift in operations or the increased size of the organisation.

Preparation for IPOs: Before your IPO it is likely that a clear vision and strategy will need to be created. A rebrand will demonstrate this to the market.

Repositioning post IPO: Repositioning post IPO may mean that the brand has not been effective or that the vision and strategy has changed. To fix this, re-branding will enable your organisation to ensure the external perception is correct.

Changes in your marketplace: Changes in the marketplace and how the group has adapted to this may change the structure of the brand or how they are perceived. A rebrand can identify this shift and why.

Brand threat or opportunity in relation to the performance of your organisation: A brand threat or opportunity is likely to result in the need for a rebrand and potentially a rename. A performance brand threat will result in your organisation needing to shift perceptions. A performance brand opportunity may lead to a shift in business model and therefore should be reflected to stakeholders.

Brand threat or opportunity in relation to the reputation of your organisation: An issue with brand reputation will be a large threat to your organisation and a business may wish to rebrand to distance themselves and alter perceptions. If there is the opportunity for reputational gain, it’s important to evaluate if your brand is effective.

Creating a strong corporate brand is essential to sustainable long term success. It is essential to understand why the rebrand is necessary and the problems that it will solve. Done well it enables your brand to move forward and enable growth.

Evie Luxton is the communications consultant at Jones and Palmer

Places are still available at the Corporate & Financial Awards