Retailers who undergo a rebranding initiative have theopportunity to modernize their brand, connect with their targetaudience and encourage consumer loyalty. While altering a brand'sstory with a rebranding investment carries risk, it can alsodeliver significant rewards. Below are four common mistakesretailers can't afford to make when undergoing a rebrand:

1. Lack of an overarchingcomprehensive plan: Brand implementation is all aboutbuilding one overarching strategic plan, setting clear objectives,developing a realistic schedule and getting the right peopleinvolved at the right time – all heading in the same direction. Sothere are many steps involved in a rebranding initiative, rangingfrom determining brand rollout strategy to launching a brandidentity audit to measuring the overall program. Without onecomprehensive plan in place, a rebranding effort can easilyderail.

2. Not having one overall brandchampion: On its own, a rebranding initiative can beextremely complex – and having too many cooks in the kitchenwithout one clear project manager is only going to add to thatcomplexity. With one set of experts working on the design aspectsof the brand and another managing the construction andimplementation, it's critical that a single brand champion owns theoverall initiative to ensure there's open and ongoing communicationand the project is implemented consistently across every market.Most brand champions belong to the company's Marketing, Real Estateor Facilities groups.