In today’s super competitive atmosphere, no business can afford to rest on its laurels and must ensure that its brand keeps pace with changes happening all around. Rebranding can breathe new life into a business but it can also be a daunting exercise. Take this advice from a leading brand agency in Malaysia when planning a rebrand.
Conduct Thorough Research
Start with researching your existing customers’ needs and their opinion about your business. Make sure you understand your brand, brand assets and the products/services being offered by competitors. Find out what your employees and industry thought leaders think about your brand and company. Doing thorough research is a crucial component of successful rebranding and if you don’t have the expertise or resources to do it on your own, consult an experienced brand agency in Malaysia.
Consider Value of Rebranding Exercise
Think about the value of a timely rebranding exercise to your business. Consider rebranding seriously if you find that it will help you reflect current market dynamics and gain a competitive edge in your industry. Rebranding can be successful in bringing back customers who were looking for a change by stimulating curiosity about what’s new with your business. Rebranding is a great idea when you’ve expanded your product/service offerings or when your business has evolved as a whole.
Keep Customers in the Loop
A brand agency will strongly recommend keeping customers in the loop for any rebranding initiative. Your loyal customers should be kept engaged and be included in the process to prevent alienating them. It is about showing respect to your existing customers and make them feel they are important for your business. It is also a great opportunity to promote new branding and transition audience members to the new one – your efforts are likely to be appreciated and rewarded by your local customers.
Stay Firm with Your Decision
The best branding strategies have to face criticism and your rebranding strategies will have to too, once you’ve launched your new brand. The best thing to do is think about all the reasons you went in for the rebrand and stand firm by the decisions you’ve made. Remember, your brand is what your customers recognize you by and any dithering will only make you look indecisive and weak.
To transition smoothly with the rebranding strategy for your business, partner a trusted brand agency in Malaysia!