In every company there comes the day when the shine and uniqueness of the brand have given its share and it’s not creating impact anymore. Even industry giants brainstorm to promote rebranding: Pepsi has rebranded 11 times, Apple has done it three, and Starbucks, four. No doubt, they have done it for good. These 5 reasons might give you the reason to do the same:
- Key Management People Changed. Brands are commonly linked with the vision of top managerial people, particularly in a privately held organization, it becomes the responsibility of the founder. When the company gets new leaders, from one generation to another or to an outside owner, a new identity is an important way to showcase new values and reforms. To get this process started you should get in touch with the rebrand strategy consultant for a foolproof plan.
- The Brand Needs a Makeover. It’s challenging to stay unique and relevant in the ever-changing world. Even the biggest companies made significant changes in the brand identity to accommodate the new changes in the market. Without rebranding and repositioning, competitors might overpower you. Chobani is an excellent example of a brand that moved up in its market position and also secured its established place through the visual strategy makeover. A good rebranding consultant can tell how you can play with the content to get a fresh brand makeover.
- New Merger. When a company merges, what happens to the long-established trail they have made so far? An acquisition welcomes an opportunity to cater to the new set of audience, product set, or geography. It’s also important to update the new values. Mergers create the need for an entirely new brand, or merely a “touch up” to the visual identity can do the trick. Also, new staff gets hired to accommodate and motivate them. Taking the consultation from the office fitouts Australia is a compulsory step.
- Your Customer Base Has Widen. As consumer behaviour changes and base widens, so should your brand. With so many competitors around, your company must make some efforts to take its place. Today’s speed of business results in changes to the things that your customers like (e.g., technology, pricing, availability). A proactive, new brand can fetch more market share than an attention seeker brand, or reacquiring share after introducing a new product segment.
- Repositioning Your Brand. As a company matures, its brand changes and stands for something different which was not planned in the initial stage. Brands evolve to get new customers; the challenge is to introduce a spot that they find relatable. As a company matures, the initial identity turns into a burden and holds a company back to get the maximum returns.
Your brand is an asset that should reap profits. A rebrand is a step that needs due diligence and should be made after evaluating the pros and cons. After all, the magnitude of bad rebranding decisions can cause more harm. To get this right get in touch with the brandboy.au.com
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