Rebranding - change new identified or upgrade the brand?
To keep up with the ever-changing market, brands must constantly “refresh” the way they approach customers. However, not all rebranding changes are well received by the public. So what exactly is rebranding and why can it become a double-edged sword for brands?
1. What is rebranding and when should it be?
Each brand has a unique identity system, following a consistent standard from the moment it goes public. They represent the brand's core values, vision, mission, positioning, and unique personality.
But until your brand becomes familiar with customers, and there are many new brands appearing on the market, your brand identity will inadvertently become outdated and need a "refresh".
2. Principles to note before Rebranding?
Rebranding is considered a significant turning point in the development of a brand, enhancing its position in the market. Therefore, market research and severe planning are essential before rebranding.
Before rebranding, make sure you have answers to the following questions. What does the company need to change? What elements should be retained to maintain the brand identity?
How do design both close and new? Will rebranding be a revolution or an improvement to your brand?
Please understand the core values, vision, and future mission of the brand before rebranding, not because of the trend.
3. Rebranding: can be an opportunity or a risk
It is easy to see that the Rebranding campaigns of famous brands attract a lot of attention and create debate in the user community.
Once rebranding, businesses must accept the trade-off of the values that have been shaped in and imprinted in the hearts of customers, becoming a completely different and new image.
So some risks that businesses are prone to face without a suitable Rebranding strategy:
- Losing existing loyal customers
- The new visual design does not match consumer tastes
- The lack of a complete rebranding launch plan makes it difficult for consumers to understand the meaning of the business change.
Conclusion
In short, rebranding is always a big issue when businesses want to place a higher position in the market. Will the change bring a positive signal or will it be a "wave" of protest from the consumer community, making businesses more cautious in this step.
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