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5 Important Mistakes To Avoid While Rebranding

5 Important Mistakes To Avoid While Rebranding
Rebranding is a marketing strategy in which a new name, term, symbol or design is created for an already established brand with the intention of developing a new and differentiated identity in the minds of consumers, investors, competitors, and other stakeholders.
The major idea behind such changes is usually to re position the brand from negative or unwholesome perspective of the former brand. Re-branding also helps to push the brand upward to a higher level.
The rebranding concept can be applied to new or existing products and can be risky if not planned well. Rebranding usually comes with the aim of influencing the customers' perceptions on a brand or service offered by a company. It is useful in making the brand appear more relevant and updated in solving the consumers' problems.

Although rebranding can be beneficial to a brand, it can also be risky to the brand if not done well. Changing a product's look is more challenging and in fact, can send a different image to the minds of the consumers.

5 Signage Mistakes To Avoid when Rebranding

Although the major purpose of branding is to increase profit, there are some major things to consider when rebranding to avoid making mistakes.
Some important mistakes to avoid while rebranding include:

  1. Avoid being inconsistent: Your business should be consistent in the market place during the course of the rebranding. The rebranding process is very helpful and can help a company gain new customers, but proper caution should be taken to avoid losing relevance to the old customers. For rebranding to be effective, you must engage in genuine research, consultation, consideration and proper implementation of the concept for a lasting result.
  2. Don't completely pull out the old brand: Avoid the mistake of pulling out the existing brand during the process as it could run down or misrepresent your brand's credibility in your consumers' eyes. Don't hop into rebranding without properly consulting your stakeholders and if possible, conduct surveys to know more about your consumers' needs.
  3. Avoid embarking on rebranding process without adequate research: Proper research is the backbone of any successful re-branding process. The research should involve extensive market research, competitor research, market intelligence and assessing of the competitors' environment to help you identity better opportunities.
  4. Don't forget your customers' love for the former brand: Don't under-estimate the love your customers' have for the previous packaging, it's what kept them to it. 
  5. Avoid forgetting your position in the market: Try understanding your customers' lifestyles, needs and preferences. Don't allow the whole process to negate the certainty that you still need to follow your customers' satisfaction.
According to Jeff Bezos the Amazon CEO, "your brand is what people say about you when you are not in the room" so you shouldn't satisfy your customers' first. Don't think you can do it alone, always consult other people to know what they think about your product. A proper market research and survey will also be good. The success of every business lies on what the consumers' are saying about their products.
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