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Rebranding- need of the hour?

When we say ‘brand speaks for itself’, we actually don’t know how much work goes into it. Creating a brand is a very inventive and tricky job. It is not a day’s job and takes a lot of efforts and understanding of small nuances in business. You need to plan, think ahead and work hard on your goods and services quality, marketing strategies, customer satisfaction and goodwill of the company among others. The moral values of the company in terms of vision, mission and core values should be predefined making it the identity of the company. All these ideologies, terms and work make for a ‘brand’ of the company.

‘Brand’ word has a wholesome meaning that stands for your company. Once you decide your production planning and finances, promotional plans, selling strategies and social media marketing among others, you go half way through to create a brand. Social media marketing has become a buzz word for companies. Companies are endorsing their brands on popular digital platforms to highlight their brands for digitally inclined audience. Most of the companies have recognized the importance of brand. However, due to some reasons rebranding becomes need of the hour. While we think of rebranding, we need to look at few things.

Rebranding is basically evaluating your decisions, strategies and planning while reviewing them. You need to introspect and do self-awareness regarding your branding and marketing strategies. What was your brand earlier and how would you want to portray it ahead. Market Research is crucial for rebranding. You need to get back to your customers and understand their demands and try to bring them in your new branding. Decide your Unique Selling Proposition (USP) in your rebranding. Think on the points that makes you different and stand apart. You should not copy anyone but focus on your niche ideas. List out the things to be rebranded in terms of your values, services, marketing and promotional techniques among others.

While rebranding, you need to take your employees, partners and stake holders into consideration. You should share your ideas before implementing with your partners and shareholders while taking their opinions. Speak to your employees and take them into confidence regarding your rebranding. Once decided and done, take your brand into public. Publish your rebranding techniques through flyers, brochures, pamphlets, television, print advertisements and social media among others. Getting positive feedback will ensure that your rebranding procedure worked.