Have you ever wondered why is it we’re almost always itching for a pandemonium when everything seems to be tranquil? The answer is simple. Change is the law of nature. Similarly, when your company is performing impressively, and so are your offerings, you might still feel the need to stir up things a little.
A brand is as good as a human. It has a personality, an attitude and its own clique. The clique here being your consumers. Just as humans opt for changing themselves as per the situation, brands also need to refresh their identity based on the context and the strategic need. Here are some reasons and cues that rebranding is round the corner for your brand.
For what it’s worth, the only way to remain relevant and appealing in the present-day dynamic market is through rebranding. But how do you know that it is time for you to rebrand? Well, hopefully, the below-mentioned points will help you deduce that!
You haven’t changed your logo. Ever.
Well, if that’s the case consider it as a red flag. We understand that it was this very logo that your company started and grew with. But it is time for you to think again. Do you really like it as much as you did on the first day? Do your customers find it appealing enough? It is quite likely that the answer to these questions is – NO. Hence, rebrand.
Your logo doesn’t resonate with your offerings.
With time, you might have changed your offerings. You might have even changed your core ideology, and in some case your target audience as well. Probably it’s high time you modified your logo, even if a tad bit so that it is sync with your brand.
Your product has the potential to target more people.
Remember Cadbury? One campaign that showed even adults can and should have chocolates, because ‘kuch khaas hai hum sabhi mein’. Simply twist your messaging a little, and envelope more people. Before you know it, your sales will be through the roof.
When it is time to expand your target audience
In every brand’s lifecycle comes a time when its survival or further growth is dependent on including a new set of target audience into its periphery. This fuels its chances to expand and explore new territories at times like these rebranding becomes quintessential.
You are closing ranks with your competitor.
There are times when your offerings are as good as that of your competitor. In this case, you need to create brand differentiation with focused messaging. Take the examples of Kansai Nerolac paints and Asian Paints. They are the top paint companies in India that both offer high-quality products. While Kansai Nerolac focuses on ‘Healthy Home Paints’, Asian Paints focuses on ‘Décor’, thus making them both equally appealing, albeit to different audiences.
Your brand looks like all the others of its category.
If your brand hasn’t introduced anything new for a long time and sells something that ten other brands also offer than you might be stuck in a rut. To break away, simply change the way your offering is packaged. Change your packaging and colors, modernize your language and style saying ‘New and Improved’. This should capture the buyer’s imagination, and improve your sales!
Tens of other reasons can call for a change. The trick is to keep your eyes and ears open, and your mind alert. Don’t stay wedded to your logo. Invest in your Brand. Don’t let it grow old, help it grow up.