How to know when it’s time to re-brand?
Rebranding, it’s a word we’ve all heard about, and we vaguely understand that it’s some kind of makeover business people give their products and companies. But there’s so much more to rebranding. Let’s find out.
What does it mean? A short Google search will tell you that rebranding has something to with marketing, and yes, a lot of changes. Let’s simplify that.
It’s not at all uncommon for consumers to shift their behavior and likings every few years. To adjust to the consumers’ likings, the company may go through physical changes to adopt a different theme. This often means the insides of the organization keep functioning as they used to before.
A good example is how car models go through facelifts every few years that only make a major difference to the appearance of the car while the mechanics remain the same.
Going forward, there can be several reasons why a company may decide to rebrand. Here are a few major ones:
- Antiquated look: It’s simple, something that looks old, is old. Modernization is a user-friendly concept, and it only ever does well for a corporation to adopt it.
- Expansion: When a company is expanding or entering a new market, carrying the same tag and theme as your previous brand is not always a good idea. A food chain, McDonald’s for example, cannot enter the automotive industry with the same googly “M”, and a clown mascot, and expect car buyers to take them seriously. They would have to get a new look for the new market.
- New business model: A firm that has decided to revamp its entire business model (seeking a different customer base, selling new products) has to also include marketing and branding into the process. A new business model basically means the company wants to move away from its previous image. Can’t do that if it’s branded the same.
- Moving upmarket: Several businesses in India thinking of rebranding fall into this broad group. To them, a major part of their rebranding is related to digitization.
Often these businesses have climbed up the ladder after previously being small local businesses. These require rebranding that’s more of “just branding”. - Although the above reasons are usually why companies decide to rebrand, they’re not the only ones. Between positives and negatives, new leaderships, mergers/demergers, diminishing brand reputation, legal reasons, et cetera could be other reasons.
How does rebranding work?
The first step of rebranding usually begins with research. Studies about existing consumer patterns and the current demand for that company’s product/service are conducted. Using the company’s product/service for reference, and the user research as a basis, marketers work together to develop the new Brand Identity.
On the online level, and the physical level, the company’s image is redesigned to reflect the new brand identity. Things like new color palettes, logos, layouts are incorporated into every part of the business.
At the end of a successful rebranding process, the new brand bears no resemblance to the past one.
All this sounds too complicated and very expensive.
How can a smaller organization even handle that?
Well, this is where we come in for you!
Marketing Agencies like ours help the likes of small and large organizations rebrand from the beginning to the very end.
From creating new marketing strategies for the company to building the new brand, we provide our clients with a smooth transition that unfolds systematically so there are no shutdowns or setbacks.
Wanna rebrand? Reach us here.
