Are you thinking about rebranding? Maybe you are no longer thrilled to see your brand logo, perhaps you feel the aesthetics of your custom soap boxes doesn’t convey your values, or you are expanding your footprint or launching new products.
The good news is rebranding is not a bad idea. From startups to Fortune 500 companies, many successful businesses have done this. Quite often, rebranding means that a business has grown beyond its previous identity and is now all set to reach new heights. With the rebranding, you get the opportunity to reinforce your company’s presence and image in the minds of the customers and rose to fame and success.
That said, rebranding is an intensive process, so you should mull over how to go about it. To help you out, here we have outlined some common practices to get it right.
Reinvent your Product Strategy
When you look to reinvent something, you redefine its context. As a result, it becomes easier to reframe what your product can be used for. For example, when you stop considering milk as a drink and think of it as a food, you are actually changing the scope of the product.
Redefine your Target Audience
If your current audience cannot see the value in your product, then contemplate who might be able to make the most of your product in ways that allow you to regain value. Take Starbucks for example. The international coffee chain redefined the value of coffee around the globe by making it hip, suave, and tailored to people’s liking. Now the prominent coffee chain is striving to do the same with tea. And since we live in a world where everything is seen or searched, discovery can prove to be a game-changer in motivating consumers.
Consider Changing the Brand Name
To make a strong impact New Zealand’s deer industry renamed its venison offering, so customers can distinguish it from deer meat that is sourced from outside the country. In the same way, if you are selling soaps in a tight marketplace where everyone is selling soaps, it’s the best way to differentiate your product from the rest. However, renaming your soap alone won’t be enough.
In the case of New Zealand’s deer industry, the new name conveyed the idea that consumers are buying a homegrown product than the one sourced from abroad.
Create new Stunning Packaging
Not too long ago, all the cuts and breeds of the meat were just beef. Today, the meat industry has segmented its offerings and assigned different names to each cut and breed only to enhance the perceived value. For example, Angus is considered a classic. Another viable option to stand out is the packaging. Create your custom printed soap boxesalong ethical lines to segregate your product and lure the customers who are willing to pay more for your feel-good soaps.
Wrap a New Brand Story Around it
A new storyline can change the way how the audience perceives your product. From water to beer, wine todivine, every brand has created stories to engage customers and drive sales so they can offer a new sense of worth. This can also prove handy when you want to associate undistinguished products withdistinguished stories. According to Psychologist Dr. Norman Holland, when we embrace a brand for personal use, we try to fit it in daily life stories. Once a brand seamlessly integrates into your story, it will offer new value to customers because it becomes personal.
We hope the above-mentioned steps will work for you and make rebranding on the large scale a reality.