When and why is rebranding necessary?
Posted: Sat Dec 07, 2024 7:58 am
The most common reason companies rebrand is a decline in sales. A transformed brand allows you to stand out from your competitors, expand your target group, and show consumers your strengths that weren’t obvious with your previous image.
But sometimes even a strong and successful company may need to make these changes. This happens when:
plans to enter new markets;
opens new areas of activity under the same brand;
it is necessary to expand or change the target group;
a change in the assortment or a transition to other product categories is planned;
it is essential to regain consumer trust lost due to mistakes made by the company while operating under the old brand image;
reputation needs improving;
it is necessary to reposition and shape a new brand image in the minds of consumers that meets their needs.
Brand rebranding step by step
The rebranding process will not bring the expected country code +62, indonesia phone numbers results if it is not carefully thought out and planned. Here is what you need to include in your strategy.
Setting goals
What should be the effect of rebranding? What do you need? What do you want to achieve? The process of working on a new brand image begins with the search for answers to these questions. A clear understanding of the goal set at the beginning of the transformation process will help determine what steps to take to achieve it with minimal financial and other resources.
Audit of the current situation of the company
At this stage, both the brand book is analyzed with the identification of weaknesses, as well as the situation on the market as a whole and in a given industry. A rough list of questions that should be answered before starting the rebranding:
What is your current target group in terms of demographics and other characteristics?
Which business processes in the company support the development of an existing brand and which ones slow it down?
What is the competitive environment in the industry in which the company operates?
What are the brand's strengths and weaknesses compared to its competitors? What prevents it from being more visible and recognizable?
How does the current image affect the level of customer trust and loyalty? What associations does the brand evoke?
What processes are taking place in the industry and what trends determine its development?
The result of such an analysis should be an understanding of whether comprehensive changes are needed or whether a partial rebranding of the company will suffice .
But sometimes even a strong and successful company may need to make these changes. This happens when:
plans to enter new markets;
opens new areas of activity under the same brand;
it is necessary to expand or change the target group;
a change in the assortment or a transition to other product categories is planned;
it is essential to regain consumer trust lost due to mistakes made by the company while operating under the old brand image;
reputation needs improving;
it is necessary to reposition and shape a new brand image in the minds of consumers that meets their needs.
Brand rebranding step by step
The rebranding process will not bring the expected country code +62, indonesia phone numbers results if it is not carefully thought out and planned. Here is what you need to include in your strategy.
Setting goals
What should be the effect of rebranding? What do you need? What do you want to achieve? The process of working on a new brand image begins with the search for answers to these questions. A clear understanding of the goal set at the beginning of the transformation process will help determine what steps to take to achieve it with minimal financial and other resources.
Audit of the current situation of the company
At this stage, both the brand book is analyzed with the identification of weaknesses, as well as the situation on the market as a whole and in a given industry. A rough list of questions that should be answered before starting the rebranding:
What is your current target group in terms of demographics and other characteristics?
Which business processes in the company support the development of an existing brand and which ones slow it down?
What is the competitive environment in the industry in which the company operates?
What are the brand's strengths and weaknesses compared to its competitors? What prevents it from being more visible and recognizable?
How does the current image affect the level of customer trust and loyalty? What associations does the brand evoke?
What processes are taking place in the industry and what trends determine its development?
The result of such an analysis should be an understanding of whether comprehensive changes are needed or whether a partial rebranding of the company will suffice .