Last updated on March 2nd, 2020
The modern dynamics of market are routinely stimulated by the tides of change and growth, the only shore of relief in this scenario is the timely rebranding of business. Unfortunately, some companies simply do not make efforts to figure out when they should shed their existing brand image. They gradually lose grip on ever evolving market and consumers.
Here are major signs that can tell them to start rebranding of business.
Confusing and Misleading Brand Image
After your business ran its course for many years, shoppers identify it by its existing image. In the meantime, a new age group of consumers has emerged in the market already. For them, your existing brand carry the same reputation as it had on the time of its inception. The guardian says that some brands should have a clear idea of message they need to send. Your company should not reach out to them with the same old image that is old fashioned and lacks the panache for the modern-day consumers. This belief should prompt you to change your existing logo and website design for instance. Your marketing campaign may require rephrasing of your business message to the audiences.
Alert businesses make rapid changes in brand image. Accent Inns is an example of fast alteration of brand image. The hotel chain found that while their customers were recognizing the inns as high quality, luxurious and cool, the CEO Mandy Farmer wasn’t much happy with the perception since the company was also targeting budget motels. To correct this misconception, the company went on a drive to alter their white, red, and blue logo to different colors of orange and softer blues. Edges of the logo were made softer and friendlier. This completely changed old perception about the company.
When Your Company Wishes to Extend to New Markets
Your company may be adding new products or services to its business profile in order to grow. These additions necessitate sending a message that focuses on strength and expansion. This should prompt you in rebranding your business. Old brand image will go against your organization when expanding into global markets. One must ask many relevant questions about brand rebranding before it is too late. A company image at local level can’t carry strongly in global markets. A universal brand image in such a case helps in making rapport with customers coming from different cultural and economic backgrounds. Rebranding will give a massive boost to your efforts in reaching to new markets.
Customer Expectations have Changed
Make an in-depth assessment of your customers’ expectations. Even while your products and services remain in demand, customers still change their preferences due to better alternatives available. So, know what your customers are looking and demanding for in a changed market scenario. Once you find out their expectations, incorporate a new color, fonts, slogans and adopt a new marketing strategy to rebuild the brand accordingly.
In your rebranding efforts, platforms like Designhill are crucial in creating marketing tools like creative logo designs, appealing brochures, catchy stationeries and professional website designs. At an affordable cost, you can create a new brand message by acquiring customized designs from the marketplace.
These tips hopefully will help your company to create a new identity with new vigor.
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