Rebranding is a process of creating a new brand using the name, symbol, story, design and other key elements of a previous brand. This process is used in many cases as a solution to meet the needs of the audience, increase brand awareness and increase sales for companies. In this article, the principles and benefits of rebranding will be discussed. Also, to read more articles about business organization, you can refer to the articles page.
What is Rebranding?
Rebranding means rebuilding the brand. This process involves changing the name, symbol, story, design and other main elements of a previous brand. In this process, the previous brand is updated by keeping the positives and reaching the negatives. This process is used in many cases as a solution to meet the needs of the audience, increase brand awareness and increase sales for companies.
Principles of Rebranding
Rebranding is a process of changing the image of a company, product or service. The purpose of rebranding is to create a new and better image that appeals to the target audience and differentiates the company from its competitors. The basic principles of brand reset are:
1. Research
Before beginning the rebranding process, it is important to conduct research to understand the needs and desires of your target audience, competitors, and industry challenges. This ensures that rebranding efforts are aligned with the needs of the target audience.
2. Clarity
A clear message is essential for resetting the brand. The new brand should clearly convey what the company values and what differentiates it from its competitors. This requires a deep understanding of the company’s values, vision and mission.
3. Compatibility
Consistency is very important in rebranding planning. All aspects of the new brand, from the logo and visual identity to the messaging and conversational style, must be consistent across all channels and touch points.
4. Differentiation
Rebranding is an opportunity to differentiate the company from competitors. This can be achieved by using unique messages, visual elements and other branding elements that differentiate the company from its competitors.
5. Advertising
Advertising is one of the most important factors that a company can achieve in rebranding success. For effective advertising, the new brand should be widely introduced and different advertising methods should be used. Advertisements should be of interest to users and attract them. For example, we can use radio ads, television ads, internet ads, mobile ads, and print ads.
6. Flexibility
Although consistency is important in branding, so is flexibility and the ability to adapt to changing marketing conditions. To this end, the branding effort must be designed in such a way that it is suitable for the future growth and evolution of the company.
7. Authenticity
Authenticity is an important factor for building trust and credibility among target audiences. Branding efforts should reflect the company’s core values and identity.
8. Implementation
To be successful in branding, you must have a good and quality implementation plan. This includes updating all elements and features specific to our organization or company.
Objectives of Rebranding
Because rebranding involves changes in the brand, it can be useful for the success of the company in different markets and the realization of the goals ahead. Some of the objectives of rebranding are:
Changing the Brand Image: Changing the name, logo, packaging and product design can be useful to change the brand image. For example, by changing the logo and packaging of the products, the Pepsi company presented a new image of itself, and this increased the sales and popularity of its products.
Market Evolution: According to market changes and new developments, companies must make changes in their brand in order to embrace the market and surpass their competitors.
Internal Changes of the Company: Sometimes companies need to change their brand to solve internal problems and make positive changes in their structure. For example, “GLM” company, with changes in its brand, was able to solve its internal problems and become one of the most reliable and reliable brands in the market.
Increase in Sales: Changing the brand and improving its image can lead to an increase in sales and marketing.
Market Opportunities: Some companies feel the need to change their brand in order to take advantage of new opportunities in the market.
Benefits of Rebranding
Rebranding offers companies many benefits. Some of the advantages of this method are mentioned below:
1. Modifying the Product
If our company’s product has become an important indicator for our company due to its inability to compete with other companies or to provide new and diverse products, we can modify and improve our product by doing rebranding. With this, our product becomes a new product again and we can hope to satisfy customers by updating and improving the product.
2. Increase in Sales
If our product did not work well in the market before rebranding, we can hope to attract new customers and increase our sales by doing rebranding.
3. Increasing Brand Credibility
Rebranding can also increase the credibility of our brand. If we can choose a new name for our company through rebranding and this name is associated with a good product, we can quickly achieve a higher brand reputation.
4. Maintaining the Market
If you cannot compete with your competitors in the market, we can create a new name and brand for ourselves by doing rebranding and work with a new and quality product.
Up to Sum
Rebranding can be a successful strategy for companies that need to change the name, brand or packaging of their products due to changes in the market and consumer needs. However, rebranding is a complex process that requires careful planning, market analysis and strong branding. The principles of rebranding include focusing on the market, focusing on branding, setting clear goals and creating differences from the company’s competitors. By following these principles, the company can successfully implement its rebranding and improve its market. Stay with the specialists of Uprodemy website to get business advice and international trade.
