There are many reasons businesses choose to rebrand. It may be that the company has experienced a change in ownership or management and wants to update its image to reflect this new era. Sometimes a business will rebrand to distance itself from negative associations with its old brand.
Or a
company may feel that its current brand is no longer relevant or resonating
with its target audience and wants to update it to stay competitive. Whatever
the reason for wanting to rebrand, specific steps must be taken to ensure that
the campaign is successful.
Rebranding Strategies (Digital and Conventional)
Rebranding is tricky. On the one hand, you want to keep
the parts of your brand working well and resonating with your audience. On the
other hand, you need to make changes to update your brand and stay relevant. So
how do you successfully navigate a rebrand?
Here are some strategies for making your rebranding campaign successful, both digital and conventional:
Famous case studies of rebranding:
1. Apple's Rebranding Campaign
In 1997, Apple was close to bankruptcy, and its products were overshadowed mainly by Microsoft. Steve Jobs took over to save the company and started a massive rebranding campaign. He removed all the old products and replaced them with new, innovative ones like the iMac, iPod, and iTunes. The campaign was a huge success; Apple is now one of the most valuable companies in the world.
2. Coca-Cola's Rebranding Campaign
In 2009, Coca-Cola embarked on a significant rebranding campaign to regain its place as the world's most popular beverage brand. The campaign included a new logo, new packaging, and a more global focus. It was a success, and Coca-Cola is once again the top beverage brand in the world.
3. Burger King's Rebranding Campaign
Burger King had been struggling in recent years, so in 2014 it decided to embark on a major rebranding campaign. The company changed its logo, updated its menu, and introduced a new slogan ("Have it your way"). The campaign was successful, and Burger King is again a leading fast food chain.
When to rebrand?
There are many reasons why companies choose to rebrand. It could be because they've outgrown their current identity or want to change how they're perceived in the marketplace.
Rebranding can be an extremely effective marketing tool, but it needs to be done for the right reasons and at the right time. Here are a few things to keep in mind when deciding if rebranding is suitable for your company:
-Your company has undergone a significant change.
-Your target market has changed.
-Your competitors have rebranded, and you need to keep up.
-Your sales have been declining, and you need a fresh start.
If any of these apply to your company, rebranding may be the right move. But before you dive in, there are a few things you need to do to ensure that your rebranding campaign is successful.
Here are a few tips:
Do your research: Rebranding is not a decision that should be made lightly. There are numerous factors to consider, such as your company's history, what your current brand stands for, and what your customers think of your
Conclusion
There you have it! These are the essential ingredients
for a successful rebranding campaign. Keep them in mind as you plan your
subsequent rebrand, and you'll be well on making a significant impact.
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