There’s no excuse. No brand should allow itself to go stale when it can capitalize on the abundance of transformative options currently available. Those options, grouped in a strategy called ‘rebranding’, can mean the difference between renewed success and abject decline. No question about it. When it’s time for a new you, rebranding is the answer.
Now hold on. Before you jump into action, you must know where you’re going. You gain this info by asking of a key question – why are you making the effort in the first place? Because every other brand marketer is doing it, and you don’t want to be the last horse at the trough? Wrong. Change for the sake of change is seldom a sound strategy. In fact, an abrupt shift can make matter worse.
No -- rebranding should be a response to a new condition. Each condition suggests its own, unique strategy. Once you determine precisely what you’re responding to, you’ll have a handy compass that points you in the right direction. With a little analysis, you thereafter can align your rebranding strategy to the appropriate condition.
One of the most common of these new conditions occurs internally -- a change in business goals. If this parameter is sufficiently altered, you’ve transformed your brand – presumably giving it greater customer appeal. Rebranding informs the public of this glorious change.
Outside forces also play a role in determining a transformative strategy. One of these external variables is your target customer. Oh yes, don’t expect stagnation here. People and their tastes change with the times, and a brand image must keep pace.
The same holds true for competing brands. Those worthy competitors are adapting continuously, changing their style, strategies, and other elements to maintain relevancy. Such modifications can secure their own customer base – and could siphon off some of your own loyal patrons. Inescapable conclusion: Keep track the competition and adapt when needed.
If you have questions or comments about rebranding strategies, or any other brand-related topic, feel free to send them our way. You can connect with the Young Company team at 949-376-8404 or bart@youngcompany.com. And be sure to follow us for the latest brand marketing news and tips.