Is Rebranding a Good Idea?

In a fast-paced world, where customer choices, demands and preferences change overnight, businesses often get the short end of the stick. The perfect mix of products, systems, infrastructure and workforce simply isn’t enough anymore and it’s unrealistic for an organisation to believe it’s always at the top of its game.

Change is the only constant, and it’s imperative that a brand evolves with its target audience, not just to keep up, but to retain business. Staying in demand translates to staying relevant, staying focused on the customer, and staying ahead of competition.

To any organisation, brand identity is integral, akin to a signature. It is unique, personal and identifiable, and a positive brand image works wonders for business. The decision to rebrand however is a big one, and if done skillfully, is a massive win for any company. A well-thought out, strategic brand strategy focuses on the positives and eliminates the negatives, with a more meaningful, integrated end product, that provides seamless solutions to customer needs without straying away from the core corporate identity.

If you’ve been thinking about rebranding, here are some key points to consider:

Do you need to? Take a step back and evaluate. In terms of brand strength, recognisability and customer perception – is your brand doing all you want it to do?

As the saying goes, ‘If it aint broke, don’t fix it.’ But if it is, know exactly what parts of the mix are flawless, and what isn’t working the way it should..

Assess the playing field. Know your competition. Establish their strengths and weaknesses and pit them against your own. Determine what factors allow for a competitive advantage that will delight your customers.

Know yourself. What can you do better? Leave no stone unturned when it comes to giving yourself that extra boost to set you at the forefront of the competition.

Customer. Customer. Customer. So you think you know your customer? Look again. Pay close attention to consumer behaviour and find out if you’re really giving them what they want. Are there elements of the customer journey that need to be changed? Improved? If you’re on the same page as your target market, chances are it will lead to a win-win situation.

The big decision. Rebranding is more than just a change in logo and tagline. It’s about telling your brand story the way it was meant to be told, so that everyone listening, never forgets. It’s a conscious choice to stay relevant, revive growth and build loyalty. It may not be easy, but it will definitely be worth it.

Based on these steps, the first things you need to do is to decide why you think you need rebranding, identify your objectives, whether your key audience is changing and if yes, find the right way to deliver the message to them.

Successful rebranding takes your business up a ladder that previously didn’t exist, giving your brand the foundation to evolve and flourish, whilst reinforcing your core business strategy, values and image.

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