The value of branding is tremendous. A brand is a competitive edge that you can offer, something that is yours, and no one can copy. Your branding might have a collection of positive feelings, and seems to all be set in terms of customers’ perception of quality, image, lifestyle and status. So why rebrand?
Why fix something that isn’t broken? You could look at it that way, or you could think of rebranding from a positive perspective.
Reasons for rebranding are various:
- Business expansion
- Location change
- Customer base change
- Outdated look
- Negative perception
- New mission
We all know that brand is a powerful association between a company and their customer. When done right, rebranding can build up the relationship between a company and their customers — at the same time helping the company develop.
Things to consider when rebranding:
- Listen to what your customers have to say
- Understand your weak point
- Clarify your new marketing strategy
You should have a valid reason for rebranding. Not all rebrands are successful. Do you remember, Tropicana for example? The newly designed packaging was on the market for about two months. Not only have they gained customer disappointment, but lost lots of money. What went wrong? Customers didn’t like the new design, thinking it was orange juice’s generic brand. How about the Gap logo change fiasco? Gap tried to introduce a new logo design and people hated it. Lesson learned here: product positioning should be changed before you go ahead and apply changes to the logo and other visual aspects of the brand. AOL wanted to represent themselves as a new media company by getting rid of the classic triangle logo for a random image of a fish. How do you explain that change to the audience — who saw this as a pathetic attempt to get hip?
The bottom line is, have a valid reason if considering rebranding, and do it well.
Do you have a rebranding failure story to share? Maybe we can all learn from other people mistakes.
Author: Marina Kaljaj