Applying for new trademark registration
Mostly everything needs a makeover after a while. Why? Because people tend to get bored with the same look and their preferences change with time. So when we speak of brands, they need their makeover too. This calls for a lot of effort. From redesigning a logo to applying for new trademark registration, revamping a brand makes companies revisit many old lanes in the process. But how does rebranding help businesses? Let’s take an example.
Pizza Hut quickly was founded in the USA in 1973. In the next few years, the company opened its first international chains in Japan, Canada, and Britain, and became the largest pizza franchise in the world. But gradually Pizza Hut encountered fierce competition as other pizza outlets started mushrooming offering a huge variety of pizza at a cheaper price. Thus Pizza Hut started losing its charm. In 2014, Pizza Hut, in an attempt to revamp its brand image unveiled a new logo with a modern look and reworked its menu adding new flavors and options. As a result, slowly and steadily sales started picking up for Pizza Hut.
Successful rebranding campaigns, improve the way audiences perceive your business. Time and again brands, even the bigger ones, have opted to revamp their brands in order to connect better with their audience. But how does anyone decide if the time is ripe for a rebranding campaign? Should a brand be revamped even if it’s doing well? Let’s understand when a company should consider a rebranding.
When a brand fails to connect with consumers:
As in the case of Pizza Hut, the brand was doing everything it had been doing for the last four decades. But one thing that was missing was- it couldn’t connect with people. As preferences of people change with time, it is important that brands stay apprised of the vibe of the people. A brand that stays stagnant loses relevance. It is important to research what your target group thinks of your brand. This data holds immense importance for the company for deciding if it should delve into rebranding or not. Rebranding done at the wrong time can backfire too. Hence, it is best to make the decision based on data rather than impulse. Comprehensive market research can help companies figure out the right time and strategy for rebranding. The brand makeover may also be helpful to break away from a negative history and distance a company from its previous mistakes or controversies.
To rekindle consumer’s trust in the brand name:
The loyalty that customers show towards a brand makes it strong and long-lasting. In fact, this is the reason why companies go for trademark registration online since they don’t want any other entity to take advantage of their customer loyalty. The trust that people have in a brand contributes to building positive brand equity. Hence, sometimes the brand goes for rebranding to reignite people’s trust in the company. Let’s take the case of Old Spice-an American brand introduced in 1937 which offered male grooming products soaps, deodorants, shampoos, etc. People generally over 40 years of age liked its products. However, in the 2000s, things started to change for Old Spice. It got fresh competition from Axe which was being perceived to be a modern brand. In comparison, Old Spice felt old fashioned and outdated. As Old Spice’s sale started plummeting, they decided to go for a brand revamp. Change in logo design and new trademark registration, aggressive marketing campaigns, focus on the younger generation made Old Spice recoup their sales, form a modern brand image, and of course, got them back their lost customers.
To put across a clear message:
Sometimes the brand fails to showcase the image it wants people to know. The message or values that it stands for, are not clearly understood by consumers. In this case, rebranding may be helpful for consumers to comprehend the values behind the brand and connect accordingly with it.
Tupperware is a good example. The brand sold products that keep food fresh through a direct sales force. But with increased competition in high-quality plastic wares, Tupperware lost its stand. The brand wanted to break away from dated perceptions and project itself as someone who stands for global female empowerment. Their campaign ‘Confidence becomes you’ was a huge success. Their new brand identity is fresh and colorful as opposed to the older one reflecting confidence and a rejuvenated spirit.
Benefits of Rebranding:
Considering the above examples, we can say that rebranding or a brand makeover basically helps a company in the following ways:
- Rebranding with a powerful campaign can create a buzz around the brand.
- Improves engagement with customers
- A brand can gain better reviews after a good revamp as more people connect with it.
- A new look and feel can lead to better customer satisfaction.
Giving your brand a facelift may be a step in the right direction for your business. However, executing a rebranding strategy is a tedious task. It is important to create a clear and thorough strategy to accomplish the true aim behind revamping your brand. Also, while your aim is to have a successful rebranding, considering the risk factor alongside is a goof and practical approach.