{"id":57240,"date":"2019-04-09T00:00:00","date_gmt":"2019-04-08T22:00:00","guid":{"rendered":"https:\/\/llyc.global\/2019\/05\/22\/rebranding-why-when-how-and-why-not\/"},"modified":"2019-05-22T00:00:00","modified_gmt":"2019-05-21T22:00:00","slug":"rebranding-why-when-how-and-why-not","status":"publish","type":"post","link":"https:\/\/llyc.global\/en\/ideas\/rebranding-why-when-how-and-why-not\/","title":{"rendered":"Rebranding: Why, When, How and Why Not"},"content":{"rendered":"

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When managing a brand, the ability to identify and adapt to a rapidly changing market<\/strong> is paramount. To ensure a brand\u2019s survival in a volatile economy, it must remain nimble, but assessing the practical need for rebranding<\/strong>, and the best way to make significant changes, can be difficult. This report will offer advice on how to determine whether rebranding is necessary, as well as methodology for an efficient and successful rebranding.<\/strong><\/p>\n

When executed well, rebranding can breathe new life into a stagnant business, but a simple logo change and press release do little to affect the company, inside or out. When rebranding, we emphasize evolution of our company\u2019s structure and the creation of innovative strategies in order to maximize efficiency and potential connections with consumers<\/strong>. While cosmetic changes such as logo alteration can aid in this, the essential element is continued and future engagement from consumers. Only when the entirety of the user experience has been enhanced can your company say its rebranding was a success.<\/p>\n

But rebranding is not necessarily what every company needs. With every shift your company makes, there is always a change in public perception, which entails risk of alienating existing consumers who may not agree with the new direction the company is taking. A haphazard rebranding can result in loss of sales, diminishing margins and dilution of pricing strategies, so before considering one, ensure that the problem does in fact lie not with operations, marketing or a product, but with the brand itself. A good starting point for determining whether a significant adaptation is necessary for the continued health of your business is to ask yourself these two questions: Does your company\u2019s mission statement no longer represent you? And has your company evolved past what it used to be?<\/strong><\/p>\n

The emotional impression left by a brand or product on consumers tends to diminish over time. This can be a result of messaging that\u2019s generic, is targeted at a specific demographic or has simply been used in the past, all in an attempt to reach more consumers. This strategy, while often effective at first, can erode a brand\u2019s competitive edge, preventing it from standing out from the crowd. Sometimes brands may even fall out of favor due to circumstances outside the company\u2019s control. In these cases in particular, it\u2019s imperative you maintain and manage your brand so as to maximize consistency of value<\/strong>. Even the most ailing company can be revitalized by a well-timed, well-executed rebranding.<\/p>\n

All reasons for rebranding ultimately aim to improve business performance, and the core strategies<\/strong> are as follows:<\/p>\n

People<\/strong> (employees and customers)<\/p>\n