Checklist: Do you need rebranding?
Author: Alyona Trifonova.
Rebranding is a natural stage in a company's life. What seemed to be true at the early stage may require adjustment and improvement over time. During the existence of the brand, the preferences of consumers, the market situation, and the competitive environment may change. To maintain your advantages, you need to react to these changes in time.
Sometimes it just seems that "something is wrong" with the brand, but you cannot clearly explain to yourself what is the reason. Let's take a look at when rebranding is really necessary.
How do you know if it's time to rebrand?
Here are a few test questions you can ask yourself.
1. Do you want to attract a new audience?
Perhaps, at the stage of the company formation you made a fine portrait of the target audience and developed a brand based on it.
But time has passed and a new generation of consumers has appeared with new demands and new shopping habits. They react differently to images and have different values. In this case you need a rebranding.
Rebranding may also be required when you notice another new, interesting segment of the target audience and want to work with it as well.
2. Do you attract not yours target audience?
If you are attracting the wrong target audience, then the problem is probably in positioning of the brand and its communication strategy. In this case, the brand needs changes.
3. Leads don't convert into sales?
If you get good incoming traffic, but it does not generate sales, in other words, if you see that there is interest and demand for your product, but sales are not going, then perhaps the problem is in the brand and it needs to be rethought and understand what exactly dissapoint buyers.
4. Do you want to raise your prices?
Raising the price is a delicate thing. Regardless of market conditions, if you offer the same for a higher price, it will be disappointing. Your brand must match its price segment and justify the price increase with its value in the eyes of consumers.
5. Have you expanded your business, added new product categories?
Expanding the assortment new markets, new business areas may indeed require rebranding.
If you answered "yes" to at least 1 question, then your desire to rebrand is justified.
Contact us to check your findings once again.