What are Rebranding Strategies?
Of the many factors that compel a company or organization to rebrand, mergers and acquisitions are perhaps the most obvious. Two entities coming together to form a new entity begs for a new identity to match.
Beyond the obvious lie many more reasons to rebrand.
These are the branding strategies that dig beneath the surface to find the root problem and utilize the various elements of rebranding to create a solution. Intelligent and thorough in their examination of the existing problem, one or more of the following five strategies may be incorporated into the rebranding process.
1: Change Direction
No matter the service or the industry, maintaining the status quo is not a viable solution. It is indeed a problem of its own in a world that increasingly demands leading-edge products, technologies and care.
Changing direction may be prompted by the passage of time. If you need to blow the dust off your brand every time you pick it up, it is time for a reinvention. If yours is a longtime organization that is still enjoying success, but not as big a slice of the marketplace as you feel is attainable, it is time to find out why your loyal customers stay loyal and why your new customers chose you. From that information, discover how the industry has changed and the role you play in it. Determine what core competence keeps you a player and how it can be expressed in today’s language. Those building blocks are a marvelous foundation for a rebrand….
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