Re-Branding from old target audience to new audience? Re-Branding from existing audience to inclusive audience? The recommended way to re-brand is to phase your image make-over so that you gradually inch towards your desired audience.

Re-Branding is not just for the big guys. It applies to even small and mid-sized enterprises. Consider this: if your desired audience is explicitly different from your current one, you need to do something about it. Make it inclusive. Talk to the new entrants without alienating your current customers.  

Top 5 Re-Branding Principles

1. Change Plan:  Create a change plan with objectives, timelines, monetary constraints, research parameters and desired behavior patterns. You cannot travel in the high sea without a compass.

2. Strategic Branding:  Logo is not branding. Branding includes everything from creating a space in the customer’s mind to decorating that space that delights the customer. You do it through your website to service etiquettes to point of purchase elements.

3. Respect past. Reject past: Stay true to the core values a brand hold. Stay away from past assumptions that are not relevant now. Be ready to chop the ‘past’ imageries with no mercy.

4. Leverage Traction: Resist the temptation to go out and change everything that meets your eye. Leverage the existing brand equity and creatively channelise it to mean new things to new and old customers. 

5. Right Budgeting: Differentiate ‘spending what it requires’ from ‘spending what you have’. Get good brand strategists or smart marketers to give you a thumps up on right spending. There are scores of cost-effective branding and re-branding ideas and tactics. Explore them and employ them.

Get a good Brand consultant on board. Together evolve your brands over time to keep them relevant and successful.

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