In an ever-changing marketplace, with competitors constantly launching and changing their products, regular rebranding to keep your company at the head of the pack is critical to continued success.
Here are 5 essential steps to make rebranding your products easier:
Rebranding to keep your products competitive is critical to continued success.
- Ask yourself, why a rebrand product labels? Do some research on your standing in the market. How are you viewed by customers, prospects and public at large? What do you want to accomplish? If customer awareness hasn't taken off as expected, or is slowly declining, you need to breathe new life into your product(s) or company. Sometimes it's a matter of updating the package, logo or design; other times you may want to consider a total name change. MarketingMo cites the example of how Pete's Super Submarines renamed itself Subway, and grew into a chain with 40,000 locations around the world.
- Stay connected with customers. From the very outset, keep your customers in the loop. Business News Daily advises ongoing dialogue and engagement - from asking for ideas and feedback, to regular communication with loyal customers explaining why changes are needed to revitalize the brand. This may be a good opportunity to offer new company "swag" to customers as a fun way of promoting your products' new look.
- Scope out the competition. Marketing Minds mentions the risk of blending into the crowd. How are your competitors positioning themselves and differentiating their brands? Take note of colors, images, campaigns and other techniques they're using, so your rebranding won't inadvertently resemble or duplicate theirs.
- Strive for consistent messaging. After you've done your homework (including generating a project timeline, budget and comprehensive communication plan), and begun preparing to roll out the rebranding, make sure everyone's on the same page, internally and externally, staff and stakeholders, online and offline. Check the alignment of all materials - logos, color/imagery guidelines, URLs, social channels, print collateral, rebrand product labels and much more.
- Be real, be authentic, be effective. Your product labeling rebrand needs to accurately and realistically communicate who you are and what your product stands for. It must represent your customers' experience and expectations as fully as possible. That includes balancing who you presently are and who you want to become. You can embrace the newness of an expanded customer base or new type of product, but keep your core fundamentals. Above all else, be certain that your new look can effectively deliver on your company's brand promise. Glamor and glitz are nice, but they're nothing without the goods and services behind them.
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