While strategies to strengthen a brand’s positioning and values are of great importance to companies, rebranding involves a transformative evolution that seeks to adapt companies to the changes required to attract new audiences. Econsultoria, a digital marketing agency , will help you understand its importance.
From time to time, it’s necessary to evaluate a brand’s performance in the market, in terms of its positioning and recognition. In order to increase its audience or expand into other markets, it must undergo changes in its vision, and this is when rebranding is considered a relaunching of image, concepts, and values. Let’s continue reading if we want to learn what this strategy entails and how to implement it successfully. At the end, we’ll leave you with some interesting examples.
What is rebranding?
Rebranding is a marketing strategy whose main objective is to change the perception of customers and investors toward the brand, connect with a new target audience, and establish a new form of identification through actions that seek to modify, totally or partially, the elements that distinguish a brand, such as changes in design, name, typography, and even advertising campaigns on social media and internal processes.
When should you rebrand?
Below, we’ll tell you when you can implement a rebranding strategy for your company:
In a stage of decline
If your business is experiencing difficulties or a list to data decline in its life cycle, rebranding can be the key to revitalizing it.
Modification of the central objective
If your business objective changes, it’s important to adapt your brand to the new smart goals and audience.
Lack of identification
If consumers no longer identify with the brand, it’s time to consider rebranding.
Geographical expansion
When a brand expands into new geographic markets, adjusting its identity is essential.
Legal conflicts
If legal impediments arise with the brand name or identity, rebranding becomes necessary.
Here are some examples of companies that have successfully implemented rebranding strategies:
Apple
In the 1990s, Apple was struggling, but with the how to use linkedIn premium business? arrival of Steve Jobs, it reinvented itself. They changed their logo and focus, transforming it from a computer company to a lifestyle brand with products like the iPod, iPhone, and iPad.
Starbucks
Originally, Starbucks sold coffee beans and afb directory home coffee-making supplies. However, after its rebranding, it became a place to enjoy high-quality coffee in a welcoming atmosphere. This changed its brand image and business focus.
Microsoft
The company has undergone several image changes over the years. Its most recent rebranding focused on simplifying its image, moving from a more legacy-based style to a more modern and minimalist one, reflecting its shift toward cloud and services.
Old Spice
Previously considered a brand for older men, Old Spice rebranded with a focus on younger people. They launched a fresh and bold advertising campaign that revitalized their image, making them a popular brand among young people.