Your brand is a representation – a representation that is strong enough to leave a lasting impression. Branding today goes beyond the logo and tagline; it is about building healthy relationships and experiences. By following the right steps, you can give your brand the perfect identity and the tone of voice it deserves. This process helps you find your audience who ultimately talks about you and plays a pivotal role in the future growth of the business.
Nevertheless, change is the only constant, meaning that sometimes businesses need to rethink, replan and reposition themselves in the market. This aids in gaining a new identity which is known as rebranding. If done the right way, rebranding can work wonders for your business. Following is a checklist that will help you know when it’s time to go for rebranding:
- WHEN YOU WANT TO GIVE YOUR BRAND A NEW LIFE/ WHEN IT’S TIME FOR JEEVANDAAN
Every brand evolves from time to time. This evolution can be seen with a change in the core values, vision, target audience and many a time the look and feel too. Colours, designs, texts and practices that gained traction two decades ago might not work, or even worse, might negate the brand image for the current and prospective audiences.
Hence, if you are an age-old brand
And don’t wish to come off as bland,
You might have to take a stand to rebrand.
- WHEN IT’S ABOUT GETTING A NEW DEMOGRAPHIC ONBOARD
Targeting a whole new demographic means influencing new behavioural habits. Detailed research which includes the likes, dislikes, income slabs, genders and attention spans will have to be conducted. What worked for your existing customer base might not work for the new set of people you’re trying to attract. In short, rebranding must be done in a way that not only brings in new customers, but also retains your old ones.
- WHEN YOU NEED A GOOD PRESS/ WHEN THE PRESS DECIDES TO FOCUS ON YOUR WRINKLED IMAGE
If your brand ever finds itself on the bad side of the press, rebranding can help you make amends. You can tell your audience the kinds of measures that you’ve taken to tackle a certain problem, and how those enabled you to deliver desired results. In such situations, rebranding helps you ride the waves even during a high tide. A good example of this is Cadbury that roped in Amitabh Bachchan as the brand ambassador after the worm infestation controversy. Likewise, Tata Nano brand positioning as ‘The Cheapest Car’ backfired and their sales dropped drastically. Consequently, they decided to reposition Nano as the ‘Smart City Car’ with new appealing features for youngsters. They surely said tata to their old brand image and how!
- WHEN YOU’RE EXPANDING YOUR PRODUCT LINE/ WHEN YOU’RE ADDING MORE THINGS TO THE CART
While adding a new product/service to your already existing products/services can be a tricky business, capturing the customers’ attention and spreading awareness regarding the same is a trickier one. Here, rebranding in the form of name change might be helpful. It is likely to get more people talking about the brand and gain publicity for the new offering. For example, the name that dominates the food industry, Zomato, was originally called “Foodiebay” and was supposed to be a food directory website. Well, we are all grateful that it’s Zoma-to the rescue now, aren’t we?
- WHEN YOU’RE UNDERGOING A MERGER OR AN ACQUISITION/ WHEN TWO COMPANIES DECIDE TO JOIN FORCES
With new ownership or partnership comes a new set of values. For the company to be able to reflect this newness, you can decide to make visual identity modifications. A suitable example in this context would be the merger of two telecom giants in India: Vodafone and Hutchinson back in 2007. The “Hutch is now Vodafone” rebranding campaign revolved around letting the consumers know that ‘The new Vodafone is the same old Hutch’ through smart advertising and retaining the Hutch pug. We guess wherever you go, branding follows, right?