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What is rebranding? Tweaking your logo and adding a catchy tagline to it and then sitting & waiting for sales to turn up? Nope. That’s not it. Rebranding is something more than this, it is like the origin of a new product but with the same old soul, ideologies, you say old wine in new bottle?
Your marketing strategies fading? Sales volume declining? Logo of the ancient times? If it’s so your brand needs a rebranding.
Case Study- 1
Royal Enfield: Starving for numbers to a 6-month waiting period on its motorcycles.
Eicher Motors motorcycle subsidiary Royal Enfield was struggling to sell its once vintage and eye-catchy motorcycle, Bullet. They decided to shut down the company as they were in huge debts.
Siddharth Lal, a 26-year young, intelligent avid fan of Bullet asked for a CHANCE. He along with his team went on a rampage to re-brand Royal Enfield, though suffered many problems which majorly included not losing the age-old charm and vintage feel of the Bullet. He changed the complete product and did aggressive marketing for it. He focused on road-trips to attract the youth; The Himalayan Odyssey was one such successful campaign from Royal Enfield.
What did they do was not a complete re-branding but understanding the views of customers, they went to the basics, collected data from the customers and implemented it by giving the cruiser a new AVATAR. The sales grew up, the numbers increased and the production saw a huge increment.
They had a plan, they succeeded in it, and today you have to wait for a 6-month period to take your Royal Enfield for a spin.
Case Study- 2
Apple: Struggling for numbers to the Most Valued Company in the World.
No rebranding list can complete without the example of Apple. It was in the mid ‘80s-‘90s when Apple was low on sales, far away from attracting consumers, the rivals took away all the butter and Apple stood there with empty handed.
The savior came in form of Late. Steve Jobs, a visionary, revolutionist techie who had that THING in him. Jobs took command in ’97. He started a series of marketing & advertising campaigns focusing on ideas, innovations & experiences more than products & purchases. They launched a flurry of innovative products and started flipping consumer expectations on their heads. Apple attracted a new, expanded customer base, and firmed itself as a leader in the tech industry where the rest were left to follow its steps.
Innovation and going out of the box worked for Steve and today Apple Inc. is, you know better than me.
These are few successful examples that have turned on fortunes for their respective owners. An idea, a thought is enough to ignite the boost only if it is implemented with sheer belief, trust, appropriate technology and skilled manpower.
Examples like McDonald’s, Burberry and Old Spice speaks success while Tropicana, Netflix-Qwikster Debacle (Loss of 800,000 subscriptions) Pepsi’s $1-Billion logo change, and various others teach us that proper planning, strategy making and understanding your audience is the PRIME NECESSITY.
What does re-branding mean and how does it affect the growth of your brand?
Rebranding doesn’t solely mean a change in the Logo, name or the URL although it’s an important thing to keep in mind. Rebranding actually means revamping your past practices & bringing innovative ideas for marketing and strategizing upcoming events. It also includes understanding your customer better and implementing their preferences.
Logo design can be all new or a slight change in it (Airtel Before & After Logo Example)
Don’t shift your purpose, only your color.
Changes are accompanied with risks. Calculated risks can make it better.
Don’t step back from going out-of-the-box.
When is the perfect time for the rebrand?
There’s no proper timing for it just when things are not working you for a change. Industry experts suggest that if your organization has been around for say, 2-3 decades in the business it’s time for a rebranding in order to alter new audiences implement latest technologies, expand your growth to other sections and above all changing the look & feel.
Steps to a successful rebrand:
Before you embark on a rebrand it is necessary to understanding who your audience is and what you want to achieve in future?
Bring the quality & characteristics you want to see on people’s thought when they hear your brand name.
Find out what’s not working for your organization.
Give a feeling to your brand.
Obtain customer feedback.
Develop your story.
Rebranding is a necessity for every brand’s growth and exposure. It should be done with utter safety and disdain. Call on for a marketing agency to better strategize your brand’s re-branding.