It always gets to a point in time that you realise there need to be a change in what you do, especially during periods of no growth and when everything becomes slow. It is certainly an indication that it is time to rebrand. A time to give your brand a new phase and reposition it to appeal to your old and new clients
In this blog, we would take you through the rebranding process. We would make you understand what exactly rebranding is and how you can take charge of your own rebranding process
First of all, let’s look at what rebranding is
What is rebranding?
Rebranding is the process of changing the image of your company.
It how you are going to portray your company. Like a comeback, refreshed, revamped and at RONEL Agency, doing that really helped us. As we take you through the Rebranding and brand positioning steps, We would talk about how Ronel rebranded and repositioned to become this Africa Giant it is now
The simplest prerequisite for a repositioning strategy is a thorough examination and analysis of all existing customer perceptions about you and your competition.
A brand’s position might need to be reconsidered from the ground up. When a brand position is developed, the goal is to sustain it over time.
What is Brand repositioning?
Repositioning is about changing the customer’s understanding of what the product or brand is.
When you decide to rebrand or reposition your brand all you are trying to say is , you have analysed the market, you have checked your customers and you think these new strategies may satisfy your customers and grow the Market but note, not you cannot satisfy everyone.
Given the fact that public perception is crucial to rebranding and brand repositioning, social listening plays a key role here.
Finding public conversations and mentions about your brand or product will clue you in on what people are saying about your product, and whether or not it’s consistent with your brand.
How to Reposition Your Brand for Strategic Growth
Today’s customers don’t want the hard sell. They want information and solutions that speak to them and an experience that feels real. Successful brand positioning creates that experience and solidifies the brand as a solution the customer will return to again and again.
Whenever you do something for a brand whether it’s an ad or a video you have to find out what the unique selling points are.
Here are simple steps that can help you reposition your brand, reclaim it and strategize it for growth.
1.Figure out the problem your product or service was created to solve
The First Step to rebranding and repositioning is understanding what problem your product or company was created to solve. There are a lot of companies who have lost the core or the sole reason why they established the brand. Most of them focus on money and profits and therefore lose the fundamentals that started the companies.
The moment you decide to rebrand, you must visit all your old books, go back to why you started the business and compare if you are on track, A lot of companies started off as providing affordable products to their clients and years down the line, money has become one of the most expensive product, then your customers change and most of them starts leaving you.
2. Listen to your customers
Listening to your customers is key when it comes to rebranding and repositioning. You need to hear their views, you need to hear what people are saying about your brand. What is the customer experience like?
Listen By listening to your customers, that is the only way you can produce goods up to their taste.
For us, at Ronel we asked our customers what they wanted to see. the change they wanted, how we can serve them better and it is what has put us where we are today.
Have a new marketing team with a new philosophy. They should be different.
3.Deliver relevant improvements to your product
When you reposition or you rebrand, people need to see a change. Your old product should have something new in it. Your customers must realize that. There is the need to be improvements and something striking with your new rebranded product. If your customers used to complain about your product, work on it, make it better.
It is very common to see companies launch marketing campaigns focused on repositioning a product or service, but few, if any changes, made to the product or service itself.
Clever advertisements draw consumers who are eager to try the new product, but apart from initial sampling, sales remained stagnant.
You need to ask yourself if the solution you provide are solving the problems of this group of people. If that is so then you need to make it better
4.Understand how your target market thinks
When rebranding, one key thing to consider is how your target market sees their problem and how they want to solve it. Are they likely to use your product or another alternative? Are you losing market share to your competitors?
For instance, if your target market is School Children and the problem they are facing is inadequate textbooks.
Be clear about how your product or service solves your target market’s problem. Tell stories about solving that problem in a language your customer understands.
5. Convince your customers to give you a second chance
Let your Customers know things have changed. The last thing you want to do is fail an unhappy customer the second time.
With competition so high and consumers so savvy, for a brand to work effectively it needs to make a far deeper connection. That connection has to be believed by everyone, from the CEO to employees to consumers.
Once you’ve learned from your former customers why they stopped doing business with you and done your best to fix the issue, it’s then appropriate to ask the former customer to revisit the decision. Use language that not only persuades but shows your real concern.
6.Identify the customer best served by your solutions
Now after figuring out the problem you want to solve. You need to identify your audience or customers. Are they men, women, Children, Are they ostentatious, Willing, highly opinionated, or “I want it now Type Customers. If you understand who your customers mostly are, it would be easy.
The conversation between the company and potential customers changes from solving the customer’s problem to selling the company’s product or service.
Step five should take up the least amount of time. Talking about the company’s solution is only 10 per cent of brand positioning. The other 90 per cent is about understanding the target audience and making adjustments to ensure the company is continuing to serve that market. When the marketing department is in control of brand positioning, instead of the C-suite, that split gets flipped, and selling the product becomes the company’s main focus. CEOs who reclaim brand positioning have the opportunity to fix this.
No one is better positioned to lead your company into a dynamic new era than we are.
Schedule an appointment with our experts now.