Over the course of a brand’s life, rebranding is an important strategic decision for the business, as it affects its very DNA and defines new guidelines for approaching the future. Perhaps it is convenient, once again, to differentiate it from restyling in which style or image basically intervenes.

In the face of a transformation process such as rebranding, we can point out several of the factors that lead to a good result.

Key Decisions in a Rebranding Strategy for Growth

1- Be clear about why it is being addressed

The best way to reach a goal is to identify it first. The most critical decisions must be made based on rigorous research and relevant data that lead to focused strategies.

2- Identify how this will be achieved as a result

Logically, it is one thing to visualize a result and another to achieve it. It’s about analysing what we’re going to need to achieve the goal. To what extent are we going to have to adapt structures, processes, culture…

3- Plan for a level of change

Changing a perception in a lasting way is not something that can be achieved with an advertising campaign, it takes time. And time equals money, investment. We will need to delve into the level of change we are willing to take on and the implications this will have for the Company.

4- Work on the line of commitment

Rebranding for growth requires patience. Integrating a new strategy, and even a new image, requires method and timing. Both internally and externally. This requires a strong commitment from an internal team in charge of ensuring the success of the transformation.

In general, it is necessary to be very clear about what will be the benefits that customers obtain with the change, it is not only about the reasons as a company but also about those of the people to whom the brand is directed. Without a vision capable of providing better meaning for the brand, reinforcing engagement with it, it may be more convenient not to consider a rebranding and focus on smaller strategies.

When properly planned, rebranding for growth can take the brand to the next level. Although it is convenient to note that a strategy that has worked for one company cannot be directly applied to another, simply because their objectives, their brand, their target, etc. are going to be different. This is when a professional outside view can be of great help to broaden the perspective and focus on what is truly important.

 

Carlos Puig Falcó

CEO of Branward®

Photos: Shutterstock


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