Rebranding used wisely, can play a major role in increasing your products’ loyal following.
Do you have to rebrand your products and services because your sales are lagging behind your forecasts and projections? Are you perhaps involved in a merger, acquisition, or unbundling? Whatever your reasons might be, rebranding can be seen as a positive way to jumpstart your sales figures.
Rebranding and rebranding strategies
Before we look at how you can utilize rebranding as a means to increase your loyal customers, let’s have a look at what rebranding and a rebranding strategy is:
According to Margaret Rouse, “rebranding is the creation of a new look and feel for an established product or company.” Its aim is to influence your audience’s perception about your products or services by making your brand seem more modern and relevant to your customers’ unique requirements.
Further to this, a rebranding strategy is a plan or methodology aimed at rebranding your existing brand. The aim of a good strategy is to bring about the successful solution to an existing problem. In other words, the rebranding strategy will include a detailed plan of action on how to successfully rebrand your products and services.
You do not have to implement a rebranding strategy as a reactive measure to reposition your brand in its niche. It is a good idea to utilize rebranding as a proactive solution to challenges that might come across your path. The one caveat is that rebranding is a costly exercise so there needs to be a good reason to undertake such an exercise. Therefore, it is a good idea to hire a trusted rebranding agency such as Brand Quest to design and implement your rebranding strategy. In this way, you are guaranteed to get maximum return on your investment (the cost of hiring a rebranding consultant).
Increasing your customer base
There are many ways a brand strategy firm like Brand Quest can successfully utilize your rebranding strategy in order to increase and retain your loyal customers. Here are a few of these ways:
Emphasise brand loyalty
Brand loyalty shows customers that you care about them and are interested in their wellbeing. If you are loyal to your own brand, then they can trust you to be loyal to them. They will then reciprocate by being loyal to your brand.
Ask your customers for their opinion
When you are busy implementing your rebranding strategy, utilise techniques such as A/B testing in order to engage with your customers to find out what they think about your new designs. Use their opinions to help you with your brand’s redesign.
Keep your customers updated
As a whole, people do not like change; therefore, it is mission critical that you keep your audience updated along the whole rebranding journey. If you do so, you are almost guaranteed to increase your loyal following. Conversely, if you spring your rebranded products onto your consumers, you run the risk of losing them to your competition.
A wisely used rebranding will go a long way towards increasing your brand’s loyal following. The key element in any rebranding strategy is to keep your customers’ needs at the top of your priority list.