Rebranding is the message to reconsider the brand strategies of the company in a certain way to deal with the market scenario without losing the value of the company. Many entrepreneurs end up with the same question whether rebrand or not. But what makes the rebranding so important is its nature of enhancing the presence of the brand which adds value to the trending market concepts. It is the most necessary and efficient way to take up smart marketing moves.
The Brand Is More Important Than Just Colors And Logos
A brand is the only core essence of the organisation and is conveyed in three essential ways,
Visually: the look actually mattesr like the color, font, logo size, design and image in the logo. Verbally: how actually the business sounds, the company’s website messaging etc. Experientially: it depends on the acts of the business like policies, customer services and hiring.
Rebranding involves the overhauling of the organization through visualization, look and feel, or simply updating verbal concepts of messaging to adapt to the high-level competitors. It means promising about the new strategies in terms of a target of the audience and repurposing the promises in every corner with the customer’s touch in it. Most of the time during rebranding attention is given to the logo design as it is more apparent, but rebranding may be visual, verbally or may have any required touch.
Customers Target Has Expanded
The existing brand message and design may be perfect for the small owners, but they are completely irrelevant for the large enterprises your ideal clientele. Hence, branding a companies keeping in mind the customers’ fore-thought and target of the audience is of utmost importance.
The Offers Have Been Changed
In the initial days your business has provided the offers like A, B, C for people, but over the years based on market trends and customer feedback the business shifted to provide different category offers to the customers. For example, eBay in the initial days offered online auctions on the certain previously-owned products and redefined its brand by look advertisement to gain attention on offering unique goods or designer merchandise. Salesforce.com brand has built based on the Customer Relationship Management (CRM) but now the offers have been changed to a broad ecosystem of strategic business products and services. Every branding message involves the promise of the evolution. Amazon’s in the initial days just started selling the books, however today the company’s advertisement promotes more than just selling books and it has expanded its offers which are offering the convenience of your life in terms of all requirements by a person.
There Is Variation In The Price Points Or Offers
This is not about the expansion of the products under the consistent brand like a same market and befits with the same promises. This is something more related to technical services and more akin to the computer equipment technician who decides to add the strategic technical consulting services, or a retail to choose the upmarket. The move in the selling the product comes to a shift what value you offer and potentially to the customer who is been offered. So there two ways to consider the price points of the company, either rebrand the company or spin-off completely new brand.
Increase In The Competition
When you launched the product or upgraded any particular system, perhaps no one else was doing the similar thing or serving those particular market strategies. But, as an increase in the services the competition changes and the brand must adopt the changes. You should cross check if your competitors are offering something really different and if they have a different story to share.
Change In Expectations And Demands Of The Customers
With the change in time, customers’ needs and demand too. They look for different things as time goes by, and perhaps you may still serve the same market but the brand needs to upgrade with it.
The Change In The Time
The logo design and the style created long ago looks extremely outdated and definitely not a cool one in the trending market system. If you are using old terminology in expressing the brand message or marketing the materials, or if the company is still referencing the “Web 2.0”, it is the right time to revisit and redefine the brand messaging. Even if a company has designed timeless brand messaging, at the point of time everything gets older and has to be updated and refreshed. Many top brands rebrand their company for better profit.
Brands should evolve, a change in the name can also be of great help while rebranding, created excitement and increase the visibility. But always keep in mind that design should not be changed completely and the core message of the brand too as they are timeless and represent the company and its services.
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