Some time ago, I worked with a brand which was contemplating a reinvention in terms of existing design philosophies for branding and marketing. The process included a transformation of the existing logo and labeling. I found myself researching the markets, the industry, and the brand’s competitors in order to come up with relevant graphic designs which were impactful and resonated with the brand’s current personality and market ideologies.
Typically, a brand reinvention is necessitated when your business reachs a peak point and growth stalls. By reinventing, I refer to giving it a new position, a new audience, and a new perspective. Improving your product quality is not a part of brand reinvention – that is merely brand improvement.
When you go for reinvention of your brand, a lot of things change – even the logo of your brand. The biggest example I can give you is of Netflix. What you know about it right now that it’s a binge-watching platform with hundreds of movies and TV shows.
However, back in 1998, it was a DVD rental service provider in California. It was in 2014 when the brand reinvented itself completely – from a DVD rental provider to a binge-watching platform. This was conveyed with a change in logo, revamping of website, and a lot of social media promotion.
Thus, brand reinvention involves changes in the following:
- Target audience
- Brand policies
It is almost like a new brand emerging in the market, just like when you go through a complete makeover. This makeover involves major changes – something that you cannot do for your brand very often.
Considering what a brand reinvention includes, here’s how you go about the process:
Step 1: Decide What Kind of a Change You Wish to Bring
You do not shift into a different industry all together in a brand reinvention. If you sell bakery products, a reinvention could involve you making your own cakes. However, you cannot suddenly switch to making candles; that’s opening a new line in your business.
Step 2: Analyse Your New Target Audience
Going by the above example, from selling cakes you’ve gone to baking your own cakes and selling them. Hence, you could have a way better pricing and audience. Majority of people love trying out new bakeries, especially the younger ones. If your pricing is high, your crowd will be more niche.
Step 3: Design a New Logo
When a brand re-emerges as something more sophisticated than before, creating a new logo makes a bigger impact than it seems. This is because different types of logos work for different brands and audiences. This is the reason why food chains use warm, appetizing colors in their logo and fashion brands keep it subtle. The more elite the audience is, the more sophisticated your logo should be.
Step 4: Revamp Your Website/Store
This is the best way of communicating to your existing audience that you have changed. Going back to the example of Netflix, that’s exactly how it communicated to its existing subscribers. They no more had to rent DVDs, they could pay and watch online now. If you don’t have a website, you can do the same with your store interiors.
Step 5: Promote Yourself in a Different Way
When your style of selling has changed, so is the style of promotion supposed to change. Design new templates and target your new audience efficiently.
Brand reinvention requires extensive research and analysis of the target audience, new business goals, and any new markets that the brand to capture as an outcome of its transformation. These 5 steps identify basic methods through which brand reinvention takes place. Organizations can utilize one or all of these methods to successfully transform its image and acquire a stronger market position.