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The Ultimate Guide to Successful Rebranding

Most of the business owners or entrepreneurs don’t pay much attention to branding. For them branding is just logo and business name. But they don’t know most important intangible asset for a business is brand value. Good branding increases the value of company among consumers and employees.

But what if your company’s existing brand doesn’t match with the vision, mission and values of your company? Re-branding is the only option.Examine the process of re-branding with HPS loyalty ventures private ltd.

Understand the meaning of rebranding.

The Ultimate Guide to Successful Rebranding

Most of the business owners or entrepreneurs don’t pay much attention to branding. For them branding is just logo and business name. But they don’t know most important intangible asset for a business is brand value. Good branding increases the value of company among consumers and employees.

But what if your company’s existing brand doesn’t match with the vision, mission and values of your company? Re-branding is the only option.Examine the process of re-branding with HPS loyalty ventures private ltd.

Understand the meaning of rebranding.

The process of changing existing corporate image of any organisation is referred as rebranding. This strategy involves changing business name, logo, symbol, marketing materials and everything which was presented at front end to develop a new identity.

Difference between refresh and rebrand

Both words are used as synonyms but for your brand these are two different processes. Learn the difference before jumping into any decision.

Refresh- Giving a brand-new look and feel is the process if refreshing. In brand refreshment all the core components are kept same.
Rebrand- Analyzing the market and fundamentals attributes and making changes in them is rebranding.
Advantages of Re-branding

Re-branding can be a great idea to reposition you in the market place. Here are to 3 advantages of re-branding for your business:

Connecting new potential customers
Stand different from the competition
New and clear vision
Disadvantages of Re-branding

Your value for rebranding can not reflect your budget
Confusion can bring chaos
You existing customer may not like the new change.
When to Rebrand?

Analyze your marketing strategies and product market first. Refreshing your brand image will naturally give you new customers. But Re-branding is not only solution. It can be critical for your business. Assess carefully whether your company needs rebranding or not.

Here are the ways from which you can know when to Re-brand.

If your brand name no longer reflects your brand vision, then you can think .
If you are targeting new customer profile than rebranding will help you.
Re-brand at the time of mergers or acquisitions
To better differentiate from the competitors, upgrade your brand.
Re-brand if your company have a poor brand reputation.
Now that you are aware about the meaning, pros, cons, learn the process of rebranding with the fundamental steps:

1) Be-focused about your rebranding strategy - You know the reason behind rebranding whether it is growth or a missing element. Make sure your rebranding attains all the motives. For this answer a simple question, “Why do you want to rebrand at a particular point of time?”

Answer to this question will be your objective, make sure your rebranding procedure have all the mechanism to accomplish your objective.

2) Be Transparent - It is foremost for the world to know about your rebranding chiefly to your consumers. Your consumer can build confusions and you can get into a dissenting position. You probably don’t want to turn upside down. Make your public launch quickly and educate them why you rebranded.

3) Re-design your marketing strategy -Know why you are rebranding and don’t port any points for the future which can create any circumstances for your business to rebrand again. Cover all the points.

4) Prepare all the advertisement campaign -Advertisement is essential to make your rebranding outreach. So, prepare the entire advertisement essential like flyers, posters, websites, business cards and blogs.

5) Market Research - Significant amount of research is important to make your rebranding successful. Research customer wants opinions, competitor products and services, before taking any steps.

6) Take feedback - Feedbacks are most important of all. It’s not necessary change is accepted by all. Some may dislike that, but taking feedback from everyone shows you care about their opinion. Do it by asking personal, taking surveys, through online forums, emails etc.

Rebranding is not an easy and sole process. A dedicated team must strategise all the process. If you are thinking to rebrand your company visit HSP loyalty ventures pvt. ltd, where they have experienced marketing professional who can make your rebranding process uncomplicated.

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