What is a brand?
Before we even talk about the perfect time to rebranding your brand, we first need to establish what a brand is and the challenges that are associated with building a brand. The thing about businesses is that anyone can register themselves as a company.
However, it requires a lot of hard work and marketing to find yourself with the title of being a brand. It is necessary that you have one of the best companies in order to be known as a brand.
There are many examples of companies throughout the world that can be recognized as a brand. This is because they have worked for a long time, making sure that they are not part of every family.
An example that is very common is Pepsi. They have associated themselves as the go-to beverage and have replaced water in many countries. Pepsi has a record of being one of the most consumed beverages throughout the world.
The customers of Pepsi are extremely loyal as they have started to consider Pepsi as part of their family. That is what a brand really is. It is part of each and every family. It is more than just a product to the people, hence the loyalty and commitment towards it.
When you are this good at marketing a product, it becomes tied up too many different memories. The emotional connection just adds up to the multiple reasons why people consider it as a brand.
To sum your question of what a brand is, it is a product or a company that has become common throughout. Its logo and even its color theme can be instantly recognized.
All of this allows a company to be recognized as a brand. The transition takes a lot of time and requires a lot of marketing to provide the company with the needed boost.
Challenges of Building a Brand
The majority of the companies that are considered brands throughout the world have been in the business for a long time. This does not mean that it is impossible to become a brand. There are many branding services throughout the world. These services provide you with the solutions to the many challenges your brand might face.
Together with the team of creative experts, you can be sure of having a brand of your own in no time. You need to have a product or service that is required in the market.
By exploiting the gap in the market, you can become a part of every household. This will most definitely allow you to have the brand you are working on getting.
Why is it important to rebranding your brand?
When you have a brand, there may be times that you will have to rebrand your brand. The reasons can be numerous, but all of them are to give your brand a new image. Major brands rebranding all the time when there is a considerable change in the company. The question here is not when you should rebranding your brand but rather why.
It is essential that you always work in the best interest of the company. This means that you have to make sure you are marketing at full throttle. When you rebranding your brand, you are providing yourself and your company a much-needed upgrade, which will allow you to ultimately benefit your company.
As a theory of website valley suggests that when you rebranding your brand, you can give a new image to your company. This will positively affect your sales and increase profits.
The Best Time to Rebranding Your Brand
To be entirely honest, there is no great time to rebranding your brand than when launching it. Changing the image of a company without a solid foundation can have a negative image on the brand.
However, there are a few reasons why rebranding is justified and should be done. As you read on, you will find five instances in which you should be rebranding. During these scenarios, your company will receive the necessary exposure. This will result in you getting more marketing.
When You are Looking to Redesign
One of the main reasons why you should be looking to rebranding your brand is when you have had enough of the current design. The thing with design is that it is continuously changing.
Your brand might have a design that was in fashion 20 years ago, but due to the latest trends and the introduction of technology, trends have changed. A brand should stay updated to the latest design trends, and if that means rebranding, then so be it.
This change will allow you to cater to a new generation of customers and increase sales.
When Your Sales are at an All-Time Low
Some companies and brands just fall out. The world has no idea where they went, and they just slowly fall to the bottom of the ocean. It is in these times when as the head of your company, you should look to rebranding your brand.
During your rebranding process, you can work through all the problems you were facing. While at the same time, you can also adopt new ideas that work for others. All of this will make sure that you have the necessary requirements for a brand. You can grow and highlight all your mistakes.
Launching a New Division
Many companies work day and night to become successful. Suppose you are one of those companies that have seen a rise in sales and have had a brilliant start.
The chances are that very soon. You will be looking to start a new division. Almost all corporations introduce a new brand as a way to expand and increase the profits for the company. In such a case, it might be a good idea to rebranding your brand.
You can give your brand a new image and create a new personality for yourself. This way, your division will also get additional marketing, and the people will know about it.
Launching a New Product
As a company that has received love from all over the world, it can be possible that you have exhausted all that you can do for a single product. It is time to climb the next step and introduce new products into the market.
During this time, you can rebranding your brand and give it a new face. The new product can use the extra marketing to its advantage. Very soon, you can have two products that perform exceptionally due to you rebranding your brand.
Many companies believe that the best way forward is by joining hands. We have many examples from all over the world of various different corporations that have merged as they had similar mission statements. This does not always mean a merger that is 50 50.
In some cases, it can mean a larger company buying out a smaller one. There are many variations to this scenario, but regardless it is the perfect opportunity to rebranding your brand. This way, you can have additional marketing. And make your merger known to the customers and clients of both companies. This will definitely have a lot of positive affect on your sales and will increase your presence in the market.
Hi My name is Ellie Singh and I have been working as a consultant for different brands during their rebranding phase ensuring that they have a smooth transition.