What is rebranding?
A brand is a complex concept with a graphic logo, product design in the same style, advertising slogan and a highly regarded reputation.
Rebranding is the creation of a new fresh perspective: it changes customer’s perception of the product or service or the company through brand resuscitation.
So in other words, the slogan of the influential English-language edition THE NEW YORK TIMES says All the News That’s Fit to Click. News about your product or service should be scattered everywhere, “reach the point of Everest” and literally break into the consciousness of customers because people do not like to change it. As soon as the client starts to perceive you, he or she will not forget about you.
This is the newest marketing trend, which like a tsunami, “washing” your activity shore: unnecessary and old things are left behind, fresh, new and actual for the modern audience are ahead. The brand change strategy is very often focused just on visual perception and not enough on its main components.
It’s like the stage of human life: first of all the brand is emerging, then the foundation of the product quality is getting stronger on the market, after all that – it is gaining popularity and finally ” hits the bulls-eye” – in the leader’s list of FORBES or THE WASHINGTON POST.
When do we need a rebranding?
Ask yourself a series of questions in order to make sure, that “you are on the right track» before making a decision:
- Do people recognize your product by logo?
- Do you have a stable sales?
- Do customers consider your product to be unique?
- Do you use all communication channels?
- Do you have competitors that breathing down your neck?
There are some good reasons why a business may need a “victim” of global change, a makeover. The cardinal solutions can be followed by the company’s repositioning and a common vision of the business concept in order to discover and to approve the brand’s leading aspects in a competitive market.
The company is assimilating new business segments
It may be necessary to update the corporate image, to appeal to an emerging market, to expand the scope of business. Sometimes it happens that the company just wants to improve its reputation using a new image I order to hide its dark past.
The brand must fulfill new tasks
Every day new technologies are born. Accordingly, the second reason for rebranding is the introduction to these progressive innovations.
For example, the idea of the US Environmental Protection Agency (EPA) is a modern “green information technology”, the ecological use of computers, laptops, and displays. In order to fulfill this, it took a lot of effort to change the habits of most American employees during the work process.
The brand is out of date
Any leader can be made unattainable by “repair work” of the brand. The main thing is to understand the state of the object: it requires capital or cosmetic repairs, full or partial rebranding !?
Stages and resources for a successful rebranding
Any stage and resource of rebranding is part of an integral “living organism». The point is not inconsistency but in the quality and success of the result. How many resources and stages you will spend, how stronger your new “personality” of the company, services will be.
Resources for brand changes
The power of the brand
When an opinion about you have already formed – it’s hard to attract attention again with a new correction of your product or name. New recommendations from reliable colleagues and partners can be a great help. It is worth starting to take part in large-scale and public projects, in order to show initiative, so the audience will notice you and like you.
According to American marketer Jack Trout: «It is not a product or service, which makes a company strong, but a position it occupies in minds of consumers». It is always important for you to remain in the psychological consciousness of clients. They must believe that your goods are the best.
Independent brand consultant Tom Asacker believes that all the magic of advertising is the transformation of a conventional product into something special. When a product acquires additional value for customers. For example, the brand Avon enjoys a stable credibility, while often using in advertising Hollywood actresses. The answer is obvious: people like to try on new human characteristics. Individual traits – an individual brand.
The values of your brand must always be unique and different from competitive ones. It is necessary to choose right a common value for the entire target audience, which unites these people together. Your brand will become a symbol of these values.
The audit of the brand should be done. They study the situation, evaluate its consequential impact on customers. Analysis of financial opportunities. The evaluation of brand recognition should be taken into account. Strengths and weaknesses of competitors should be determined and swot analysis should be done.
The development of a rebranding plan, strategic tactics, comes into play.
New positioning, updating the system and a new brand communication line are introduced.
When you create a new brand, you should focus on creating a market instead of «serving to he market». It is very important to convey the meaning of the brand to the target audience.
Rebranding: 5 Deadly Errors
- Emphasis on creative. The design of the corporate identity should correspond to the company’s new philosophy. If it is just an embodiment of the designer’s vision – you will spoil the whole reputation of the brand, presenting only an updated visual concept.
- The desire to save money. You should trust rebranding only to experienced specialists who use an integrated approach. When the result is important on the basis of an individual solution to the situation.
- Lack of advertising and PR. Even if you create the most fashionable and popular brand, this is not the key to success. You will need a well-defined
- Lack of communication. According to Jeff Bezos, the head, and founder of Amazon.com: «We firmly believe that for us, the right way to build a brand is by delivering a great service. Customers learn about who we are as a result of interacting with us».
- Weak communication with the team. It is necessary to assemble the best team. It’s like a mechanical watch: every detail must be in working order and perform its function, otherwise, the start will not happen.
Example of Harley-Davidson rebranding case
In 1985, the Harley-Davidson Motor Salon came to total bankruptcy. And as you can see today they are the most reliable motorcycle brand. You ask, what saved the company?
So here’s an answer from Richard Teerlink, the former CFO of the company:
“In 1982, the Harley-Davidson Salon had no dividends of its own. We were heavily in debt, more than $ 90 million, and bankers refused to give us credit. We had an excellent brand, but no profit. It was necessary to improve the quality of our product so that the consumer would believe in it. If we didn’t do this, the company would be wiped off the face of the map forever “.
Conclusion: “Try to maintain your brand as a quality product, get rid of all inefficient controls,” Teerlink added at the end.
Agent.biz: service for ordering a rebranding
So you need to do a good job, where the result is the best solution covering all aspects that will bring your company, product or service to the international level. You need to inspire as many customers as possible to love your brand.
It is important to avoid risks and waste because rebranding is a serious test of time and money.
The B2B business platform offers a portfolio of online agents with professional experience in changing the company’s image or brand. Rebranding specialists around the world are ready to step up to the task today.