The Importance of Rebranding Your Business
In the business of branding, knowing when to rebrand and when not to may just be one of the most important lessons to learn. In order to avoid an immature approach – rebranding just to please an emotional itch – it’s essential to realize that not all rebranding efforts will result in big, revolutionary, blow-your-socks-off change. But really, for some brands, the kind of sweeping change many would expect is not exactly the most efficient solution. Of course, companies considering this option will want to get their money’s worth, but before any decisions are made they should understand that sometimes small change makes the most sense.
That’s where branding firms come in, to determine how much of a change would really help the brand because sometimes, too much change can even be a bad thing. The most minimal modifications could include maintaining everything but a typeface. On the other hand, sometimes the brand image can be completely transformed while, for example, maintaining only a specific color. But for those organizations with assets worth keeping, rebrands are a chance to reposition, to create alignment and relevancy, and to communicate growth to the market, thereby becoming more competitive.
When is it time to re-brand your business?
The moment you become aware that your brand no longer achieves the results you aiming for, you ought to try and revive it back and package the whole thing with a new look, new feeling to it and even a new direction. Slowly turning into an old, washed up brand would only get you to leave a wrong impression on people. What is important is that you don’t let your guard down and you maintain that it-factor. Revive your brand in order to maintain that appeal to your audience, on top of your game and ahead of your competitors as well as create excitement on what you have to offer. The main idea is that you maintain the freshness of your brand.
Rebranding provides you the opportunity to reestablish yourself as a larger and even improved force that everyone else should be vigilant of. Refreshing one’s brand could be composed of everything from brand new name, web design, logo, as well as packaging, to a new-fangled and better philosophy, market placement, character, as well as customer experience.
For example, in 1997, tech mammoth Apple was near to declaring bankruptcy, yet somewhat less than 17 years after the fact, stock costs have gone up from $6 to $350 and the organization continues shooting in an upward direction. Mac did not just rebrand the organization’s name, mascot, and logo, yet in addition began creating reliable and exquisitely designed products, adding artistry to innovation; as changing its name from Apple Computer to Apple enhanced the company to deliver innovative products, for example, iPod, iPad, iMac, and iPhone. Apple figured out how to polish its brand and make a positive experience for its clients.
The benefits of rebranding
A lot of entrepreneurs as well as small business owners develop their brands during the earlier part of their, restricted financial resources, and before they get the chance to realize their competitive advantage. With the progression of time and their business slowly achieves success as they begin to understand that their name, business cards, website, office decorum, as well as status no longer corresponds to their who they but for what they have to offer who they are, what they continually aspire to turn into. During this point in time, a lot of entrepreneurs formulate the decision to put in more time as well as resources in refreshing their brand themselves, to help them contend to higher levels.
Rebranding is considered a savvy business decision for the following reasons:
Each brand needs invigorating to remain pertinent as the 21st-century market is a regularly developing one, rebranding bears organizations the opportunity to try a new technique to make their image relevant and all the more imperatively, remain significant.
Rebranding influences the customer’s perception when an item wears new look or has another vibe or an organization refreshes its advertising materials and techniques with a cautious thought of the target client, the client perception changes and take a more positive note.
Rebranding offers the opportunity to clarify image while allowing room for future growth this naturally improves the bottom line by conveying a company’s core value and brand message.
Rebranding can breathe new life into a business when it is done with a strategy, a process thought and most importantly for the right reasons.
This will set the product or company apart from competitors. It is important that all your current elite customers and individuals related to your business are enlightened of the improvements and upgrades that you are intending to make. While it is important to make new customers, it is more essential to hold the present ones. The professional rebranding organizations ensure that the new picture of your business is appropriate for all and hits at the correct mark, generating more customers while fortifying the bond with the current ones.
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