How to Capitalize on the New Age of Rebranding
Are there any guarantees that rebranding works? Of course there aren’t. Even the most seasoned brand experts will tell you that. But the fact remains, companies do rebrand; and in 2014 we’ve witnessed a plethora of big names going up for overhaul, including Hershey, Airbnb, Southwest, FitnessFirst etc.
Why then do companies rebrand? There are a host of reasons why companies go for the partial or complete makeover but at the heart of it all is – to increase profitability. Branding has to work because it takes a lot of time, effort and money to materialize, but if it doesn’t then it’s time to rethink what works, and what doesn’t.
The old adage of branding had been, to establish a brand identity by being out there in the market, and making sure that your brand is everywhere so consumers can spot you. The farther the reach of your brand name the better the conversion. Shooting emails, dropping brochures, Craigslist, and using marketing materials in as many forms as possible have been the practice, and I am not negating that these tactics don’t work anymore. They still do; but not to the extent that companies expect them to.
Instead, companies must realize that the new generation of consumers are fickle, skeptic, and not easily convinced by simply being in front of their eyes. In fact, they are young, energetic, and highly emotional. That’s where your brand needs to focus and capitalize on – by tuning into their emotional waves; see what makes them tick; things that they feel strongly about; emotions that they connect with; and you will have a winning formula for rebranding.
The following is an infographic for you to refer to, on how to capitalize on emotional branding, and ensure your rebranding strategy succeeds.