What is Rebranding? Description, And its 4 Strategies

Definition:

Rebranding is the process of altering the brand copy of a group. It is a market plan to give a new name, symbol or design change to an already established brand.

The idea behind rebranding is to make a brand different from its entrants’ identity in the market.

The Description:

There are many reasons why a company selects to rebrand. An important factor is a connection with customers.

It is best uses for business, Yet, it can also be risky.  Consumers may not yet like the new brand.

Rebranding Types: Active, Reactive

• Active rebranding: Recognizes growth opportunities.
• Reactive rebranding: Reconnects with users.

With the help of an example: Titan Industries rebranded itself in 2013 and changed its logo and name to Titan Company.

The new logo emphasized the company’s commitment to “create value, innovate and uphold the highest global standards.”

Reactive rebranding is complete when the existing brand has been discontinued or changed.

Possible reasons for such action could be mergers and acquisitions, legal issues, negative publicity such as fraud, or the goal of beating the competition or creating your niche.

Let’s know with the help of an example. Next, the revelation of fraud in 2009, Satyam Computer Service was on the verge of bankruptcy.

The company sold to Tech Mahindra. Government authorities ignored the whole process, and Tech Mahindra later changed the company name to “Mahindra Satyam” and, in 2013, merged with Satyam Computer Services.

4 Rebranding Strategies

1. Change your logo.

One of the main rebranding strategies is to change your logo. A new logo will let your patrons know your brand identity is different. You can make it fancier, use different colours, etc.

The key reason to change your logo is to match the new identity you are marketing with the rebranding.

2. Change Brand Positioning.

Changing your brand logo is also essential to change your brand positioning. You can’t change your colours and logo and call it a day.

The content you market needs to communicate a specific message, be it your mission, values ​​, or vision.

Changing your brand positioning will let your customers know about your new task, discounts ​​, or idea.

3. Create New Ads

Once you know your logo and message, it’s time to create new ads and content with that message in mind.

These ads should communicate changes to your brand and what it means to customers. It can help you attract a new demographic and reach a larger audience.

4. Change the Voice of our Brand.

Ultimately, you’ll want to change the brand voice when it comes time to rebrand. Your brand voice is the perspective from which you write your marketing content.

Your voice is formal, causal, witty, etc. So if you’re rebranding, it makes sense to change your brand voice and announce the rebranding in your new tone.

Remember that all rebrands are created equal, so let’s first consider whether a full or partial rebrand is the best option for your business.

Conclusion

Rebranding is a calculated move that helps businesses connect with consumers and find new avenues for expansion.

Reactive rebranding, which reaches out to people again, and active rebranding, which spots growth prospects, are the two kinds.

Rebrandings by Titan Industries in 2013 and Tech Mahindra in 2013 following a fraud incident are two examples.

While both kinds can be dangerous, they aid in a company’s continued relevance and competitiveness.