What words come to mind when we mention Apple? Is it innovation and creativity? What about Google? How about this— What about your brand? Does it mean anything? Will it last the next 10 years? the next 20?
If you’re unsure about these questions, it might be time for a rebranding strategy.
We know rebranding is a resource draining undertaking, but it will benefit your company in the long run.
Is your brand missing the mark? You may need a full rebrand and not even know it! Here are 7 signs that it’s time to implement a rebranding strategy.
Here are 7 signs you need a rebranding strategy.
1. You Need to Take Back The Reigns on Your Brand
Would you believe me that once upon a time, Burberry was predominantly worn by gangsters in the UK? The high-end luxury brand became a status piece for the UK’s more unsavory citizens.
In fact, many pubs banned it from their premises because of this association. A couple of years back, there was a similar situation with Nike’s Air Max sneakers.
Pubs in Australia were banning the air bubble runners because it’s the shoe of choice for drug dealers.
It’s time for a rebranding strategy if your product has been hijacked by unintended customers.
2. A Rebranding Strategy Can Help You Find a Younger Demographic
When you think of the average Pabst Blue Ribbon (PBR) consumer, you think of a hipster donning a fedora hat with a messenger back draped across his or her back. This was not always the case. Before the 2000s, Pabst was considered the working class beer.
In 2001, the brewery was failing miserably and on track to selling just under one million barrels, an all-time low. They needed a serious makeover. Pabst eventually found its way by investing in a rebranding strategy.
They saw there was a growing interest amongst 20-something-year-olds. These young adults just reached the drinking age in the US. PBR found out their dislike for mainstream products which is why they drank the unpopular beer.
The beer company sponsored events for the burgeoning hipsters and never directly sold a single beer at these events. Aligning their brand with hipster counter-culture.
By 2012, Pabst had become a $1 billion brand.
3. New Technology is Drastically Affecting Your Brand
It’s tough to predict if your brand will become a casualty of advancing technology. Amazon led to the downfall of brick-and-mortar bookstores like Barnes and Noble.An obsolete product leads to an obsolete brand. You need to reposition your brand if you want to survive. Evolve your brand with the advent of new technology.
A company that has successfully evolved with technology is IBM. The tech giant’s most recent rebranding strategy was in 2015. It pivoted from its “Smarter Planet” strategy to its “Cognitive Business” strategy to reflect the tremendous effect cloud computing had on business operations.
IBM is no stranger to rebranding. In fact, this is its 3rd rebranding strategy in 20 years. It didn’t survive this long by selling outdated hardware to corporations.
Don’t be the last brand selling horse carriages when everyone else is selling cars.
4. You Outgrew Your Initial Niche
Finding a niche is a great way to start a business but it won’t help you maintain it. Remember when Amazon only sold books? Now it sells everything under the sun and is continually investing in new technologies.
It has drones, Kindle, Amazon Prime, Echo, and Amazon Cloud. They rebranded quite remarkably when they unveiled the infamous A-to-Z logo.
Because they do sell everything… From A to Z.
Even the almighty Google is not immune to a good rebranding strategy. In 2015, the search giant rebranded itself as Alphabet. Did you know that Google is dabbling in longevity medicine? or how about their tinkering with glucose sensing lenses?
They realize the products they are investing in are no longer under the internet umbrella, let alone, the search engine niche.
Google is now one of the many brands housed under the Alphabet brand.
5. You Have Tone Inconsistencies
What color is your logo in your email signature? What about the tone of your ad copies?
Do your employees have a good grasp on how to interact with your clients. If your brand is all over the place, consumers will be confused about what you stand for.
You need to launch a rebranding strategy with a solid style guide. A blueprint that lays out the brand culture, tone, and primary colors. It ensures all your future marketing and products remain consistent across the board.
6. The Brand is Only Associated With Your Product, Not a Lifestyle
Anyone can sell a product or service. If your brand is associated with only selling your product, it is to rebrand.
Let’s look at what Patagonia did with their brand. The outerwear company is known as the most eco-friendly clothing company.
In November of 2011, the apparel giant launched their “Don’t Buy This Jacket” Campaign. This was their effort to stand for something more than just their down parkas.
The campaign focused on reducing waste and encouraged consumers to reuse their old Patagonia jackets.
In fact, they offer free lifetime repairs on any of their products.
The Patagonia brand is now reflective of the zero waste lifestyle. Ironically, their sales jumped 40% the following two years.
7. You’ve Invested Nothing in Social Media
A rebranding strategy isn’t just about changing a logo and picking out a new font. Social Media has made branding a two-way street. What we mean is that your customer has a lot to say when it comes to what your brand stands for.
No brand demonstrated this better than KLM, the Royal Dutch Airlines. In an industry notorious for its subpar customer service. KLM took it upon itself to engage with customers on social media in a way that was impactful and unheard of in the airline industry.
They responded to every single tweet within 60 minutes and even once rescheduled a flight for a passenger following a complaint through Twitter.
The airline established a brand personal unmatched by any of its competitors.
If you are inactive on social media, it’s a good opportunity to create dialog and establish a brand presence.
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Are You Ready for a Rebranding Strategy?
Do any of these signs look familiar? Are you looking to rebrand but don’t know where to start? Flagship Digital offers consultations that will whip your brand in tip top shape. If you’re interested in what we can do for you, drop us a line here.