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It’s the nature of man to evolve with evolving times. And this holds for brands as well. To cope with the changing taste of their consumers and to stay relevant with the times or to say “trending with the times” brands often are left with no choice but to rebrand themselves.
Here are 6 reasons why rebranding helps brands grow:
Changing market trends
The last three decades saw the market grow exponentially. From globalization to having the dot-com develop brands and businesses to social media completely taking over the market, we’ve seen revolutionary changes. And this wasn’t enough, the pandemic changed even the most rigid of us. With the market changing so fast, it became necessary for brands to change themselves and adapt to the market. Brands often rebrand themselves around ongoing market trends. And no these are not the “tik-tok” trends we talking about, but the overall vibe of the market. For instance, the last 5 decades saw the rise of brands using Instagram to connect with audiences. Following this trend, every brand started engaging with its audiences on Instagram.
To stay relevant with the consumers
With the rise of social media began the rise of “relevance”. As funny as it may sound, the fact is, if your brand isn’t relevant to what the audiences want and wish to see, people will move on from your brand. The race for relevance can be seen all over social media with all brands posting content and trying their level best to trend. The more relatable a brand becomes, the more relevant it gets.
A fresh chapter
When a brand has been around for years or even months for that matter, it matures with the set image and tends to reach the stage where its existing identity loses relevance. At such times, rebranding helps the brand to begin a new chapter in its history. A fresh start taking their learned lessons and moving ahead with a fresh face and a fresh personality. This helps in even broadening your target audience. Brands that reinvent themselves tend to last longer and have a greater shelf life than those that stay rigid.
Authenticity with a twist
Rebranding isn’t necessarily changing your identity, but it’s presenting your same identity with a fresh face. When the brand keeps its image and identity the same but refreshes the way people may perceive them is when rebranding helps the brand the most. A customer whos loyal to your brand resonates with what the brand stands for, and when the brand is rebranded, it gives the customer more than it asked for.
Revamps their brand image
Just the way humans need a wardrobe change every once in a while, so do your brands. Brands need to keep themselves presentable and interesting, even with new competition in the market, and for this rebranding helps a lot. A new look of your brand will not only please your existing audience but also makes head turns of your potential consumers.
Helps build community
A brand grows with its audience. And with that, when the audience changes tastes with evolving time, the brand changes itself. This helps the brand build a loyal community around it. It engages the audience to a much deeper level. Thus rebuilding your brand, helps you rebuild your consumer base around it.
Every brand thus needs to be agile with the changing times, and adaptive to its consumer needs. The quicker a brand adapts and changes itself, the longer the brand shall last.
