Everyone who has ever been involved in advertising knows that it is necessary to rebrand everything possible and necessary to increase brand or company awareness. Is it possible to make a rebranding promotion, and then completely change the company’s brand, or is it too risky?
Table of Contents
Purpose of rebranding: formation of brand identity.
The tasks of rebranding are: capturing new market segments, creating a new positioning, forming a new image, and “Preserving” the brand’s position in the market.
There are also many reasons for rebranding: the desire for innovation, the desire to be closer to the client, to increase turnover. Thanks to the changes, there is also a change in strategy and new positioning of the company. Let’s look at the pros and cons of rebranding and figure out whether it’s worth spending time on this process or whether it’s easier to buy a new trademark.
Rebranding
All buyers in the market are divided into two categories. The first (80%) who regularly consume products/goods/services. The second (20%) — is exotics. Consumers of the first category do not need the second group, and the second category does not need consumers of the first.
Disadvantages of the rebrand.
As a rule, people in the first category are already consumers of your products/services.
It would seem that why would they rebrand? That’s how people think. It’s very simple. People are not ready to open a product (service) from scratch just to be in the topic. A company is not only a person who sells a product or service but also a consumer person. After all, only blue packaging or juicy fruit will suit someone, and someone, on the contrary, likes the red color.
Therefore, potential consumers, upon learning about the rebrand, are likely to leave your company. The disadvantages of the rebrand also lie in a rather complicated legal justification, the need to allocate funds for carrying out work for a long time, the need to create structural divisions, and the search for new ways to increase production volumes. In this case, high-quality goods become an important thing.
Company rebranding
But it’s still worth deciding on a rebranding. For the company, a rebrand is an opportunity to stand out from the faceless mass of competitors. Yes, it will take some time, the “elephant in the china shop” will be invisible, but it’s only a few months.
By this time, there will be new products that will be in demand. And if high-quality goods or services of a company (purely a product, service) can already be described as a brand, then a completely new product may be rebranded for the consumer. It can be a package of milk from a new brand, as well as a new service, a new business concept, or a new type of activity. And even a toy that was known half a year ago.
Useful tips:
To increase the loyalty of potential customers to their products/services, it is necessary to take care of creating an interesting and unique image of the company.
Come up with an interesting name (resembling the name of the product/service). That will be associated with the words “design”, “art” (events, events), and “accessories”. Consider at least one factor – an individual market valuation.
Rebranding helps not only to individualize the company. But also to create a solid foundation for further growth and development. Review your assortment, determine the most optimal things for you and make a “brand” out of each.
Do not forget that over time our habits and patterns of behavior may change.