The strategic form of re-alignment of a brand is performed. When a budding business is undergoing the process of a brand relaunch. The purpose of the brand relaunch is to serve the brand with freshness. Such that it can attract more eyes of consumers in the market. This can be performed by positioning your brand in the market correctly. Further addressing the specific groups who are supposed to be targeted.
The introduction of the relaunch concept is dependent on the most profitable performance of the company and its sustainable position in the market. It becomes highly necessary when the attractiveness, as well as the authenticity of the brand, keeps on decreasing significantly. This results in showing negative consequences like rapidly declining sales figures and narrowed competitiveness in the market.
Why Brand Relaunch?
With the advent of Web 3.0, it has become indispensable. To keep up the pace of eCommerce with the latest technologies. The introduction of Web 3.0 has resulted in offering various intriguing features. Which provides better security, privacy, and a convenient way of establishing a market presence. The main concept behind a brand relaunch is to extend the brand’s life cycle. This not only accounts for newly found opportunities but also a few risk areas. It is highly necessary from the viewpoint of a brand’s strategy to consider every aspect before planning a relaunch.
The main motive behind a brand relaunch is to make it credible, attractive, sustainable, and ultimately superior. This aim is accomplished by the professionals of Value4Brand. Circling back to the concept of web 3.0, various technologies such as NFTs, blockchain technology, and smart security systems can help create a secure and interactive space for the consumers and the brand, where they can build a healthy connection. The idea behind the implementation of such a technology is to provide a platform. Where a brand can interact with the consumers beyond the point of merely selling products, and ultimately winning their trust.
Jagermeister is regarded as one of the highly popular success stories of a brand relaunch. The company was well known as a primary and traditional form of brand and was preferred in middle-class households. This was mainly because the brand was continuously losing its authenticity. As well as attractiveness due to the lack of evolution. After putting forth their brand relaunch, success rates increased exponentially as they were able to attract younger consumer groups. The company ended up becoming a cult beverage in any event.
Planning A Brand Relaunch
It is necessary to ensure that the involvement can be maximized from various functional areas of an organization before planning a brand relaunch. Maintaining an inclusive culture in the company, establishing leadership, and encouraged participation are necessary factors for making a brand relaunch successful. Make sure you inculcate the critics of your employees while working out the best strategy for your brand relaunch.
Rebranding involves not only the external parts of a brand but also the interior and integral parts of a brand. This also entails considering your stakeholders by cross-functioning with the entire team by the means of applying research-driven methods. This can be performed by conducting interviews, workshops, surveys, and collaborations, to name a few. Value4Brand provides professionals for planning the perfect relaunch for your brand.
Steps To Relaunch A Brand
The five integral steps necessary for the relaunch of a brand are listed as follows-
- Creation of an internal committee that can cross function among themselves to read the current situation and make decisions accordingly. This can be performed under the guidance of brand experts in a much more systematic and seamless way.
- It is necessary to conduct a brand relaunch internally at first, followed by a public relaunch. Make sure you add your brand ambassadors as your primary target audience while relaunching internally.
- Be descriptive while telling your journey story, starting from ideating to implementing your ideas concerning the relaunch of your brand. Make it a big celebration to attract more potential customers and create a buzz in the town.
- Publicly releasing a snippet in association with your brand ambassadors. It will help in creating a sense of curiosity among the audience, and ultimately increase your business’ potential.
- At last comes the external relaunch! Do not hesitate in mailing out to your clients and customers. Make a mega release in the press, and invite the media for showcasing your brand. Social media plays a huge role at this step, and it is necessary to inculcate the same for better outcomes.
A brand relaunch is considered to be one of the crucial yet intriguing steps for any brand. But don’t worry! Professionals like Value4Brand can aid in satisfying your expectations.