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1.BRAND STORY
In the increasingly competitive environment where everything is automated, and digitally-oriented the value of human-centric things valued more. To survive business brand needs to get connected to audience emotions, feelings, and engage them with the brand. That’s where the role of the brand story comes into the picture.
The secret to success in the elegant art of storytelling lies in understanding its fundamental components which will help in communicating the rebranding outputs.
Example: Everyone knows how a brand Maggi got shattered when FSSAI had claimed Nestle Maggi contains monosodium glutamate above permissible limits. The brand had a powerful comeback by connecting to the audience by tweaking their emotional nerve. Making the audience cry by connecting closely with their fond childhood memories with Maggi by campaigns such as #WeMissYouToo.
2.DONT COMPROMISE ON BRAND EQUITY
Have you ever wonder why there are so many brands that are disappearing right once they are acquired? That is because the acquirers thought they “owned” the brand.
Maybe they thought their new acquisition as just another label and opportunity to expand, or perhaps they saw it as a new market for their raw materials with a new set of audience and prospects. They wanted it to conform to the feel and look of their other brands. But as the brand they bought was, and is still, owned by its customers! For that reason, the acquirer is more of a brand steward than a brand owner.
Make sure when you are rebranding make sure for evolution and not revolution be careful not to lose customers and advocates alone away. Figure out things such as what do loyal customers think? What do they expect it to look like? Pricewise, quality wise, and status wise keep everything aligned so that you don’t lose on equity.
- STREAMLINE YOUR IDENTITY
People love to get associated with brands whose foundation is based on values and ideals. Customers should be able to identify a brand by how it is present and what it says about itself. Brand identity and its culture should resonate in the personality it puts out and how it will build its relationship.
A productive model will access brand identity through the lens of branding model.
Example: Dabur is a brand which has always traditionally portrayed Indian women, with changing time firm rebranded and introduced a campaign “Brave and Beautiful”. It showed various woman fighting against cancer in a 4-min ad campaign. The entire Idea behind this campaign stood for modern-day women, along with praising the strength of a woman.
- DONT OVERTHINK THINGS AND GET CONFUSED
We agree rebranding is a very challenging task, but over thinking can trap the brain in a worry cycle. The simple act to avoid this is to take a step back, breath and survey the whole situation this will help to stop over-thinking of things. Take the second opinion if confused as two heads are always better than one. Be organized and plan things correctly; this will lead the correct direction instead of making you confused and frustrated.
5.REVITALIZE TO BROADEN THE APPEAL
Due to continually changing audience preferences and market needs, we can conclude that consumer tastes and designs are not always timeless. Type of colour, Font styles can become outdated and stale. What looked great an era ago cannot be looking the same today. Companies who are always in touch of their branding partners and who are aware of market changes will always keep themselves up to date and trending. The effort of rebranding is the best way where the brand is revitalized and becomes fresh again.
Example: When Hero Cycles parted away from Honda, the rebranding done by Hero Moto Corp is one of the most successful stories. In the year 2011, the launch of the new Anthem by A.R. Rahman called ‘Hum Mein Hai Hero’ catapulted the already overflowing Indian emotions and received huge applause.
- CHANGING NAME IS NOT REBRANDING
When any firm is changing just its logo or name, then it is called as brand refresh and not rebranding. Refreshing of the brand is a process where brand identities are only updated and not complete plastic surgery. Depending upon the company’s level of issues, it is finalized if any firm has to go through a refreshing process or rebranding. The rebranding includes changes from brand DNA to crucial market position. If the concern is not too severe, then the firm can get itself change with small changes and can get going.
- DONT BE RECKLESS
Rebranding a company is a costly and strategic decision which involves a lot of money, time, efforts and a long term risk involved with the brand. Either organization here can become a leader or can fail terribly; hence, it is imperative to maintain patience and do not be reckless.
AGENCY ROLE IN REBRANDING YOUR PRODUCT:
Firms can adopt the help of branding and designing agencies who will provide a strategic and unbiased perspective. They can big-picture analysis of your brand, which will allow bringing the brand to life. Cross industrial experience will lead to new and creative ideas which are also feasible as per market needs. Branding agency are also famously known for their unique areas of expertise that you won’t be able to find internally they are good at research, identity services and strategies.
