In general, rebranding should be considered a positive phenomenon in the company's activities. However, it is necessary to preliminarily assess the risks associated with it. After all, even in the same industry, on the same markets, an identical set of measures for the first business can contribute to sales growth, increase audience loyalty, and for the second, not have the expected effect.
Benefits of rebranding:
A well-promoted brand remains on the market.
New advertising projects that attract consumers.
Cost effective compared key features of office 365 database to new brand creation activities.
Increasing the size of the target audience, which contributes to sales growth.
Pros and cons of rebranding
Disadvantages of rebranding:
It is impossible to accurately calculate the effect that rebranding will bring.
Sometimes this activity turns into an end in itself, divorced from the original objectives of rebranding.
Recommendations:
Attracting a new audience should not disrupt communications with the existing audience.
It is necessary to plan the events step by step in advance, calculate the possible effect and risks - this way the goals of rebranding will be formulated more clearly, and specific actions will be more consistent with them.
Don't try to do it yourself. Use the services of professionals who have the necessary experience in marketing.
Assess the possibility of achieving rebranding goals using other tools. It may be possible to achieve audience expansion and improve brand reputation in other, less expensive ways.
Do not forget about the goal that was set at the beginning. If difficulties arise, or if there is no result from any activities, adjust the strategy.
Case: VT-metall
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