5 Reasons Your Brand May Need a Rebranding Strategy

Change is inevitable. Every day we come across a new trend, a new strategy, a new buzz that is driving the world. In such a dynamic environment, it is only unrealistic to think that our brands will stay evergreen. Staying relevant and maintaining a modern image not only helps a brand cut competition or come at par with it but also prevents it from losing customers who might otherwise think that the brand is not up to date and hence doesn’t align with their aspirations and ideas. 

Brands usually shy away from the concept of rebranding but a business has to go through it at some point in its life cycle in order to not end up losing its market.

There can be various reasons why a brand may resort to rebranding.

In highly competitive markets, a brand may want to distinguish itself from its competitors. With price wars and similar product benefits, a brand can leave an impact on its consumers by building a strong brand image which may be done through rebranding.

Other times, a brand may want to renew its visual identity. Like in recent times, several brands have changed their logos which is all a part of rebranding strategy. These changed logos communicate better what the brand stands for exactly and what it claims to deliver.

Companies also consider a rebranding campaign to rescue themselves from a damaged reputation that may be caused due to social, legal, economical or any other factors. Winning back the old or better status in the consumer’s eyes is of utmost importance for a brand because it ensures the longevity of business.

There are various benefits that companies can derive from rebranding. Some of them are:

1.     Engagement with the audience- A refreshing look makes the audience curious and creates a buzz for your brand. It draws attention of the existing as well as new customers to look for what’s in store for them.

2.     Stay Updated- The most advantageous application of rebranding is staying current and up to date so that customers can connect with your brand with the evolving times.

3.     Reflect new functional or operational decisions- A new product, a new ideology, offers and values can be conveyed to your TG through a rebranding strategy. Even a new TG can be targeted through a rebranding strategy, increasing your customer base.

4.     Internal motivation- Sometimes when a company has been existing for too long with the same value and vision, the employees tend to feel monotony. Rebranding strategy can be used to bring about a change in the attitude of employees and fuel them with new energy and curiosity towards new goals.

5.     Proven evolution- Proving to your customers that you change with changing times and are reliable enough to align with their sense of newness and trends is important to keep them retained. 

However, the decision to choose rebranding for your brand at the right time is a crucial one within the budget that doesn’t put you at a great risk.

Therefore, Brandwand, a branding agency, located in New Delhi NCR, serves startups and MSMEs and helps them take essential decisions regarding their marketing and branding strategies. Along with other functions of marketing, it helps revamp brands and gives them a new identity which aligns with their expression. These decisions are also executed with utmost efficiency and professionalism to drive the best results for you and your brand, making the right impact at the right time.