Tips on how to Re-brand successfully to maintain Customer’s brand loyalty
Recently, I came across an article about Re-branding of a 20 years old game which is very familiar among the players till date. There arises a question, why do companies need to re-brand their identity like changing their name, logo, color and so on.
It is a tricky decision taken by the company to attain profitability. But that depends on the customer’s reaction towards it.
To receive a successful response among the audience then it is mandatory for the company to ensure that they follow the below-mentioned points at the time of re-branding,
1. Comparison between Old Brand and New Brand
Rebranding the original version which is very familiar among the users is a very tough process. They can Re-brand anything even they can change their brand identities.
The company should show the differentiation between the old brand and the new version. So that it will help the user to understand the reason behind the brand strategy.
2. New Strategy should be Loyal to the Old one
The existing brand has obtained loyal customers by its features and services, so before rebranding, one has to be aware of this. Hence, the new strategy should not affect and neglect the older one.
3. Increase the Quality
To rebrand your brand or brand identity, you have to improve the quality of the previous one. To maintain brand loyalty of your customers then rebranding should make a difference and should create value. Don’t just Rebrand for namesake.
Let it be a Mantra when you rebrand, “ What is the purpose of Rebranding and What will be the additional Value of Rebranding?”
4. Rebrand with a Gratuity
Instead of just revamping the original version of the brand, one has to create additional value to the existing one. This value-addition will help your customers to stay loyal to your brand. It may also help you by pulling in new customers by word-of-mouth just because of your value-added features.
5. Think of your Customer’s requirement first
A brand will get the customer’s attention only when it meets out their needs and wants. The rebranding of the existing brand should adhere to the customer’s necessity like the previous version.
Apple Inc. will be the best example of a successful rebranding, in their rebrand strategy they have implemented the techniques which maintained its existing brand value. In the 1990s, Apple Computers Inc. faced a huge loss. Hence, they first rebrand their company name as Apple Inc., through which they decided that they must be a pioneer in Innovation and technology not only for computers but for all electronic gadgets. They also changed their logo color from multiple colors to a transparent one.
To understand the needs of its customer, Apple Inc. has done a focus group discussion. It also adds value to its existing brand or product by giving value-added services and innovation.
Thus, these are the few tips to rebrand your brand successfully. Customers are a soul for your organization, so any decision should be taken from their perspective, not from your instinct; that will help you attain your profitability.