Rebrand Your Business for 2016
If you have seen the latest Old Spice commercials, noticed the resurgence of Harley-Davidson from near bankruptcy, or observed that McDonalds now looks and acts a lot like Starbucks, then you have seen rebranding in action. Many companies begin the New Year with some strategic planning, and rebranding can be part of that. Whether you only want to update your business cards, redesign your logo, or completely overhaul your public message, the start of 2016 may offer that opportunity. Here are a few reasons that updating your brand can help improve and grow your company.
By giving your company a new look or message, you can take a fresh perspective at your current customer demands, and create a brand that will meet their needs. Do some market research to pinpoint exactly what your customer’s wants and needs are, and rebrand to meet these needs. Re-branding can help stimulate growth by targeting exactly what your customers are looking for.
Your company should always strive to keep up with any technology or technological advancement in your industry. Many customers want to deal with a company that is “state of the art”, and they will feel reassured that they are using a company with the best technology out there. A re-brand can help improve profitability especially when your competitors are not keeping on top of technology.
Sometimes rebranding isn’t as important as repositioning. If your company name still stands strong and is a good representation of what you do, but your message or image is wrong, you can consider repositioning your brand. If your brand has gone international, or you have a new product or service on the market, repositioning can really help you communicate what your company is about. A great example of repositioning is the men’s cologne company, “Old Spice.” Their brand was well established for many years – but it wasn’t working for the market that they wanted to hit. Since 1938, Old Spice had been associated with elderly gentlemen, but in 2008, it all changed with the Old Spice Swagger Campaign. They realized that the “Glacial Falls” scent wasn’t selling, so they worked with Wieden + Kennedy (the marketing company that Old Spice hired to reposition their branding) to create the “Swagger” campaign. It was the exact same scent, but it was repositioned to appeal to the demographic that they want to target. Now Old Spice has completely repositioned their brand to target the right customers and they're getting the right results.
You Can Trust Lake Printing for Your Large & Small Print Needs
It Can Help Stimulate Growth
By giving your company a new look or message, you can take a fresh perspective at your current customer demands, and create a brand that will meet their needs. Do some market research to pinpoint exactly what your customer’s wants and needs are, and rebrand to meet these needs. Re-branding can help stimulate growth by targeting exactly what your customers are looking for.
Innovation Could Equal Profitability
Your company should always strive to keep up with any technology or technological advancement in your industry. Many customers want to deal with a company that is “state of the art”, and they will feel reassured that they are using a company with the best technology out there. A re-brand can help improve profitability especially when your competitors are not keeping on top of technology.
Your Market May Have Changed
One reason you should consider re-branding is if your demographic has changed. If your customers have gotten older or younger, they may be looking for a fresher message that can be achieved through updated branding. If you’ve expanded your company, you may also need to reach a larger demographic. If the look of your company doesn’t reflect what you are selling, promoting your brand could be hurting rather than helping. As technology changes, watch out to make sure that your technology has not become obsolete. For example, if your company used to revolve around VHS tapes and cassettes, when CDs and DVDs came out it would have been extremely important to update your branding in order to stay afloat.
Repositioning May Be Needed
Sometimes rebranding isn’t as important as repositioning. If your company name still stands strong and is a good representation of what you do, but your message or image is wrong, you can consider repositioning your brand. If your brand has gone international, or you have a new product or service on the market, repositioning can really help you communicate what your company is about. A great example of repositioning is the men’s cologne company, “Old Spice.” Their brand was well established for many years – but it wasn’t working for the market that they wanted to hit. Since 1938, Old Spice had been associated with elderly gentlemen, but in 2008, it all changed with the Old Spice Swagger Campaign. They realized that the “Glacial Falls” scent wasn’t selling, so they worked with Wieden + Kennedy (the marketing company that Old Spice hired to reposition their branding) to create the “Swagger” campaign. It was the exact same scent, but it was repositioned to appeal to the demographic that they want to target. Now Old Spice has completely repositioned their brand to target the right customers and they're getting the right results.
Comments
Post a Comment