Brand New Look: How Rebranding Can Restate What a Company Does Best
The most valuable asset of any organization is its brand. It’s not just the name, logo, or the products and services that the company provides. It encompasses the company’s entire organisational culture, how it is perceived, and the emotions it evokes in others. It is the company’s identity and reflects its core personality. It can take years to develop a strong brand identity, and it is fundamental to why customers remain loyal.
Rebranding: Creating a Fresh New Look!
- When a company delivers new products and services or expands into new markets, branding overhaul or rebranding becomes inevitable for the company’s growth.
- Even when customer behaviors, preferences, and buying patterns are constantly evolving, businesses need to do a rebranding exercise to align with the demographic changes.
- Rebranding becomes necessary to establish a connection with a tech-savvy, young audience that tends to be more open in their quest for new experiences. The brand requires a fresh new look and feel to appeal to highly demanding consumers that expect more value from the brands they adopt.
- So, rebranding is not just for the sake of it; it is a calculated move to mould your brand into one which best fits the needs and lifestyle preferences of your target market.
Rebranding Communication Mix
- Another critical aspect of a company brand is how it communicates with its customers. This aspect includes everything from its tone of communication to its preferred channels of communication. Rebranding is required when these methods of communication and engagement with customers become outdated, resulting in a dwindling connection with the target audience.
- Rebranding communication mix includes taking the brand to your target customers through media channels that they most identify with - digital media. Industry-specific bloggers, influencers, travelogues, etc., can become important communication channels to feature in, to gain maximum traction with your target audience.
Creating a New Brand Vision!
- Businesses must regularly examine how their target audience acquires their products and services. That’s because buying habits undergo dramatic shifts over some time. For example, the ongoing COVID-19 pandemic dramatically fast-forwarded buying shift to e-commerce platforms.
- So, when customer buying habits shift, it becomes necessary for businesses to relook their brand vision. A new brand vision is required to make products available across all leading stores, e-commerce platforms, and mobile apps to reach a large consumer base.
Rebranding and Sustainability
- Rebranding exercise also includes adopting sustainable and environmentally responsible practices for your company and implementing long-term sustainability strategies.
- A company can rebrand itself to set a new benchmark on sustainability standards by aspiring to be a “zero-waste” company or achieving a “zero-effluent” status.
The rebranding marks an exciting new chapter in the lifecycle of any business. For many companies, it has been a gamechanger. With a dramatic shift in consumer buying patterns during the current pandemic, many companies need to examine their way of conducting business, their overall brand identity, and their way of reaching consumers in the new normal. This rebranding exercise is a reassertion of what a company does best, with some tweaks, to better align with its consumer needs.
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