Ever considered improving the cycle of your brand? Many of the ongoing businesses have been given the advice once or twice of shutting down the work, as it is not making good sales. But what about rebranding? Have you thought of rebranding before shutting everything? Considering rebranding is a good way to bring your business into the market from scratch again. This is suggested to do when your business branding does not go well in the first place. There are many good brands that exist today who did not do well at first but considered rebranding that came as an opportunity to them.
The biggest example of business turned successful is Uber. Uber initially in 2017 faced a lot of criticism regarding passenger safety and was not recommended to use. Uber went for rebranding. It shifted its focus on rebuilding its reputation with a fresh start. Teaming up with a brand consultancy named Wolff Olins helped the company by providing them with the new directions and suggested core values to follow. Uber’s rebranding included a new simplified logo, user-friendly app interface and options in the app concerning with passenger’s safety. Sooner as we know Uber became a global brand. This became possible when Uber rebranded itself and turned out a successful mechanism.
Also, you must have heard about Dunkin’ Donuts going Dunkin’. The famous American Multinational coffee & Doughnut Company chose to drop Donuts from its name. & Rebranded everything along with strategy, This well-planned strategy to promote the overall brand but not just restricted to doughnuts. However, Donuts still remains on the menu. This rebranding made them stay with younger customers and gave them incredible new energy to grow business.
Let’s look at the signs that your business needs rebranding:
Product not doing well in the market
Sometimes it happens that a wonderful product doesn’t do well because of the strategy & communication behind because the consumer does not feel connected or interested.
Your product is an asset of your organization that adds value to the business in the form of cash. Company’s profit depends on the quantity of product sold. If the sale of the product is very less, it automatically shows that the product didn’t do well in the market and it’s time to rebrand your product & come up with a new perspective to it that consumer can feel connected & curious for your product or service.
Business is at the same level since it started
Every business struggles initially but with time it sees growth if the branding is proper. If the business is constant to where it was initially and no value is added to its operations and functions, it means the branding needs to be changed. You are advised to do a rebranding of your business in that case.
Hard to make sales
If the product in the market is not running, it will become hard to generate sales. Company is unable to meet the target goals of earnings that it sets. In this case, if you are not able to meet your annual sales then rebranding is the option that your business is looking for.
You are losing your clients
You have put efforts initially and added many clients to your bucket list. Gradually if your branding is not proper, clients will find it difficult to work with you and ultimately starts to discontinue. If this is happening with you too where you are losing your clients, choosing to rebrand yourself is the only option to make things right.
Not one, not two, not three but many companies shifted its brand focus and rebranded itself for the better business module. Sooner as we know, these businesses turned so well that many became a global success. Your business can too; you are just one right call away.
