Rebranding is a tricky, expensive, and incredibly risky move to make. For some companies, it can be rewarding and help them to reach new audiences, particularly younger ones; but for others, it can be the kiss of death.
Take the two examples of Radio Shack and Levi’s Jeans
After sales started to slip, as companies like Best Buy and Amazon made buying electronics much simpler, Radio Shack saw that they needed to make changes in order to stay relevant.
They decided to drop “Radio” from their name and rebrand as “The Shack” – attempting to create a name that seemed to imply that they had everything you needed under one roof. Unfortunately, the rebrand totally backfired, leading the company to file bankruptcy in 2017.
Levi Jeans, on the other hand, conducted a successful revamp. While the brand has always been a classic for denim jeans, they were geared toward the working class – thanks to their durable material. Levi’s had always been a beloved brand, but they saw that they were starting to lose some market share as more fashion-focused companies popped up.
Levi’s decided to revamp by issuing more fashion-forward products geared towards younger customers, particularly teens and young adults, while still sticking to their classic denim roots. Audiences quickly connected and loved the new product lines, and today Levi’s is one of the primary denim brands on the shelves of many fashion retailers.
Sometimes a brand can simply use a little revamping and refreshing before a total re-haul is needed. Revamping allows you to make slight changes to improve the customer experience and reach new audiences while still maintaining your brand’s identity – which is often the reason why total rebrands turn end in disaster.
So, how can you start to revamp your own company effectively instead of going under the “rebrand knife”?
#1. Explore Creative Additions to Your Product Line
If your product line is starting to get a little boring and outdated, you may want to consider adding some creative additions to diversify your products/services. There are plenty of creative business ideas that you can incorporate into your current store to expand your offerings and help you connect with wider audiences.
One way to get started is by looking for upsells and cross-sells that you can add to your current product lines to elevate your customer’s experiences. For example, the coffee company Four Sigmatic originally sold coffee beans and blends that offered various health benefits – thanks to adaptogens from various mushrooms.
They decided to revamp their product line by creating upselling opportunities through their subscription services and cross-sells with elixir blends and other hot beverages so the brand could connect with non-coffee drinkers as well.
Or, you can try totally expanding your offerings into different markets to reach other niche audiences. The key here is to choose products/services that still have some overlap with your current target audience so it still makes sense – while simultaneously helping your business to expand to additional segments.
Four Sigmatic knew that their audience clearly cared about health and wellness, so they recently expanded their product line to include skincare as well. This had just enough overlap to still make sense, but it created an opportunity for the company to reach new audience groups as well.
#2. Switch Up Your Content Style
Another way to effectively revamp without losing sight of your brand is by rethinking your content voice and style. If you typically focus on blog posts, why not create a podcast or vlog channel? Or, start utilizing social media in new ways, such as hosting live streams or creating unique 24-hour stories?
Many companies have also found it useful to diversify their content depending on the channel they are using to connect with audiences.
Take a look at Trustpilot’s social media accounts as an example here. On Facebook, their feed is focused on building engagement directly with customers by sharing insightful content directly from their blog, as well as more humorous posts.
But, their LinkedIn page has an entirely different feel. Since this channel is geared more towards business professionals, the content they share is far more intellectual and business-focused rather than geared towards consumers.
This helps the brand to diversify their content to reach audience’s more effectively. This can also be a great way to test out new content material, such as creating a YouTube channel to try out videos or using Snapchat or Instagram for short stories.
#3. Look for Ways to Change and Improve the CX
Ultimately, the CX (customer experience) is the most influential aspect of anything you offer. One of the best ways to refresh your company is by looking for ways to vastly improve it. You don’t need to make things too complicated here – focus on making the changes that will have the greatest positive impact by giving your customers what they want.
First, you need to start off by identifying the things that are frustrating your customers in the first place. According to research from Hotjar, the majority of CX complaints are related to customer service, such as long response times from support members or unresolved issues and questions.
So, address this top frustration head-on by incorporating new features that improve this important aspect of the CX. Consider creating a live chatbot to quickly answer FAQs or guide a customer to the correct representative to tackle more complex issues.
#4. Be Careful with Big Changes- But Don’t Be Afraid to Make Them
One of the main reasons why total rebrands often fail is because it confuses customers as to what a brand really is. According to a study from Lucidpress, branding inconsistency can hurt your company’s reputation by causing customers to distrust you.
Now, this should not discourage you from changing things about your brand. Change is inevitable, especially if you want to stay relevant within your industry.
Just be careful if you are going to change the look of your website or alter things that people have associated with your company in the past. Always find a way to keep some things consistent, such as the color scheme of your logo or the overall voice and personality.
Businesses need to change up their brands from time-to-time; it is what helps them to evolve with the quickly changing business and consumer landscape. The key here is to find ways to freshen things up without losing the important elements that your customers recognize.
Instead, go for the changes that will have the greatest impact so your audience takes notice, such as expanding product offerings or diversifying your content. These small but significant changes can help any brand grow and evolve without the greater risk of a total change.
About the Author!
Manish Dudharejia, is the President and Founder of E2M Solutions Inc, a San Diego Based Digital Agency that specializes in White Label Services for Website Design & Development and eCommerce SEO. With over 10 years of experience in the Technology and Digital Marketing industry, he is passionate about helping online businesses to take their branding to the next level.