Why rebranding is important ? There are many reasons. Many companies that boast a long-term presence in the market and excellent customer reviews will notice a decrease in interest in the brand they create over time. This is because the changing world and the expectations of consumers contribute to the constant development and renewal of the image. This is why rebranding is important which is a way to create a new brand image.
Why rebranding is important annd what is rebranding itself ?
Rebranding is a change in the brand of a well-known company. The main goal is to increase the interest of long-term customers and attract the attention of new customers. Rebranding can be:
- large is a complete transformation of the company and what it offers;
- partial this is a change in individual parts of the brand: slogan, logo, etc.
How do you know when it’s time to rebrand?
Every brand wants to maintain a leading position in the market and makes every effort to this. To meet the needs of your audience, you need to be clear about what people want to get. Adherence to tradition is, of course, good, but is a well-known brand a leader in sales? No? Maybe because it’s just outdated not the product itself, but the brand? Many consumers buy only what is “trending”, and any entrepreneur should follow the trend if he wants to stay in the market.
The most popular type of rebranding is partial. This includes changing the logo or brand slogan. Below you can follow the rebranding of the Apple logo.
To understand in which direction the company’s strategy should develop, it is necessary to conduct market research. It should also be remembered that an indispensable element of rebranding is the organization of an information campaign in the media with a range corresponding to the size of the controlled company.
Because of the significant financial resources that entrepreneurs have to spend on brand renewal, rebranding has to be a very detailed and consistently planned process. To do this, it is best to use the help of professionals who will guide the company through the entire process in such a way that the actions taken are successful.
Fortunately, more and more offers from companies that are comprehensively engaged in rebranding are appearing on the market. Thanks to such collaboration, it is possible to consistently change the brand image, from the logo itself, by developing new ways of communicating with customers and employees, to creating a successful website and effective copywriting. Working with a selected company that specializes in this type of activity will certainly contribute to a more effective campaign.
Why rebranding is important and Why do companies decide to rebrand?
One of the most reason why rebranding is important and companies decide to make such changes are the correct positioning and perception of the brand, as well as the need for changes in organizational structures and updating business strategies.
The decision to change the brand image is most often influenced by the desire to expand market share or a recorded decline in sales profit.
The reasons for rebranding the company include the following:
- the brand is outdated and has lost its relevance;
- a competitor with tangible advantages has appeared on the market;
- marketers made mistakes when positioning a product on the market;
- the company has changed or expanded the scope of its activities;
- the brand has set itself new tasks and goals;
- there was a merger of companies;
- the brand’s reputation has suffered;
- the company enters the international market;
- the audience does not know the brand well.
Why rebranding is important ? Rebranding goals
Most brands have the following rebranding goals:
- raise awareness and brand awareness;
- increase brand loyalty;
- expand your target audience.
It is important not to fundamentally change the philosophy of the brand, but to optimize and improve it. That is, the strengths need to be preserved, and the weaknesses – to work out and eliminate the properties that slow down the development of the company.
Deep brand analysis. At this stage, the state of the brand is studied, the attitude of the audience towards it is determined, strengths and weaknesses are identified, competitors are singled out and their advantages are investigated. After such an audit, a decision is made on how deep rebranding the company needs.
Development of a rebranding strategy. Based on the results obtained, a rebranding strategy is developed. Determine which brand components need to be changed and work on methods to maintain and develop strengths. Choose effective ways, techniques and tools to help rebrand.
Rebranding. At this stage, they make all the changes and implement the main strategy.
Awareness of the audience with a new brand concept. At the last stage, the audience is introduced to the new ideology, the essence of the rebranding is explained and the new benefits of cooperation are discussed.