There is no single ‘right’ approach for how to address brand strategy in a merger or acquisition scenario. It’s a strategic decision dependent on how a company wants to build and manage its brand. But there is definitely one ‘wrong’ approach—not making a plan and just hoping it all works out.
I recently had the pleasure of sitting down with Joseph Hellman at Redpath CPAs to talk about what companies should keep in mind when they are in an M&A situation (be it as the acquiree or acquirer). Take a listen below or at The Transaction Abstract wherever you get your podcasts!
In our discussion, we talked about the three main areas that companies have undergone an M&A need to consider deliberately:
- We have two names and logos! What now? This is the most obvious component of an M&A brand discussion. You’ve got a new name, logo and visual system to contend with and need to be deliberate about how to proceed. How much do you continue to leverage either of the existing brands, or does the situation require a new brand altogether? (Hint: research can help with this!)
- Tell me something new. An acquisition provides an opportunity to tell an expanded story that unifies the company. Knowing the story you want to tell about the new and expanded entity – and sharing it effectively – can energize both customers and employees alike.
- Don’t forget the people involved. And speaking of employees, bringing two organizations together is about far more than expanding the products and services offered. Engaging the teams of people who are now coming together is a critical component of a truly successful merger or acquisition.