When is the right time to Rebrand?
No matter how respected and established a brand is, it is still susceptible to mistakes and pitfalls. Let’s take a look at some of the biggest branding mistakes that new and seasoned brands can make, such as silly product launches, marketing blunders, co-branding errors, and controversial advertising.
Value for the Client
When launching a new brand, it’s essential to clearly illustrate the value that your product provides and how it can enrich the lives of consumers. Demonstrate to them why they should choose your product over others and how their lives can be enriched. Showcase the advantages to make it easier for buyers to understand why they should invest in your product. Use engaging visuals and examples that allow buyers to envision themselves using the product and how it can enhance their lifestyle. Focus on showing that there is something in it for them.Branching out without any focus
It’s not a universal rule, but many big brands unfortunately make the same mistake of limiting their offerings by trying to branch into something completely different and outside their scope. Today’s customers are more informed and aware of what works in terms of branding, which can often lead to a quick outcry when companies try to go against what they know best. For instance, if Coca-Cola started selling luxury vehicles or Pizza Hut began creating smartphones – it simply wouldn’t make any sense. It’s important to stay focused and specialized within one industry rather than trying to keep up with all the latest trends.Rigid Approach
Staying ahead of developments and changes in your sector is an absolute must. Knowing the latest players and trends can be difficult and costly to catch up with; jumping on every new concept that appears isn’t advised either. Instead, it’s a good idea to stay informed on what’s happening in your area so you don’t lose sight of consumers’ view of your brand.Wrong selection of Partner Brands
Before forging any partnerships with other companies in your sector, consider the following questions: Do they provide products/services that your target audience desires? Are their corporate values in alignment with yours? Do they have a commendable reputation? Are your partnership goals compatible? Do your due diligence to make sure that the two companies share the same objectives. The connection between both brands and the dynamics of communication are key factors to determine whether your cooperation will be successful and sustainable.Misunderstanding Branding
To build a successful brand, it’s important to understand what branding is and how it’s different from marketing and advertising. Many professionals think that developing a plan for advertising is enough to develop a brand, but it also involves planning a consistent identity and image. Researching branding and understanding the difference between how people perceive a company and how it advertises its services is essential.
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