The rebranding process must begin with understanding audience demographics, changing preferences and pain points.
How the customer perceives a brand is often a combination of two elements. Firstly, branding. This element refers to parameters like the story the brand tells across touchpoints and the expectation the business set. Secondly, brand identity; which refers to the psychological image the brand creates in the customer’s mind.
To understand how the customer perceives the brand, marketers must study the target audience and identify pain points like delayed deliveries and ineffective customer support. After gathering audience feedback, brands must incorporate insights into their rebranding strategy and test it with customers, prospects, employees and business stakeholders.
Such rebranding exercises can help brands experiment with several strategies. These include responding to changing preferences, offering market-specific products and recovering from reputational harm.
[11 minute read]