Sep 19, 2016
Thinking of Re-Branding
: As described by Wikipedia
is a Marketing Strategy in which a new name, term, symbol, design, or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors, competitors, and other stakeholders.
Thinking of Re-branding? Its important to ask the following questions so you can stay true to your brand, right customer take notice, and its powerful enough to have an impact.
- Whats the purpose of doing re-branding?
- What problems you are facing that you are attempting to solve?
- Are you targeting a different market?
- Does your customer has different needs and wants?
- Is you competitive landscape changed since you launched your brand?
- Whats your USP ( Unique Selling Proposition)?
- What you want to convey?
- Do you want to change your Brand Story?
- Is your brand associated with something which is no more relevant to you or your industry?
- Is this Re-Branding solution a long term or short term goal?
Partial Re-branding: This is a situation where brand has been firmly established but need little bit of tweaking because either they have outdated services or needs to be refreshed. In this case, company shouldn’t eliminate the Brand value, but merely make changes or update offerings.
Here is a our approach to Total Re-branding:
- Research your Brand and your target market. The objective is to have an understanding of your current brand perception and competencies.
- Research your competitors.
- Then the work on Positioning, Brand story and message is captured for Brand Strategy.
- Brand Guideline document.
- Build Brand Identity: This is where visual elements are developed which includes: Logo, Tag Line, Collateral Design, social media design etc. This step is to make sure the brand voice is consistent throughout all channels.
- Build new website or redesign the existing one.
- Marketing Collateral
- Final step is to develop a plan to promote and strengthen your new brand.
Sometimes Re-branding tells your customer that your company is continuously adapting and providing new ways to meet their demands. Build creative products that are well made in beautiful creative packaging.. Also, create a positive experience for customers as Apple has done in its stores. Most important thing to keep in mind is that customers want a better lifestyle and will respond to companies that they believe will help them achieve their goal.
What are your thoughts on Re-Branding and how important it is?