The Critical Components of a Successful Brand Relaunch. If you find yourself in the position of needing to reinvigorate your brand, to stimulate growth, don't feel alone. You may find, after a comprehensive review, that your brand positioning and distribution channels are suffering from misalignment. Before you can begin to plan for the relaunch, you need a tangible idea of how extensive the process is going to be. You will need to carefully examine your customer segments and gather as much data as possible that details customers' specific needs and buying circumstances. Target your previous customers. As you plan to reintroduce your brand to the world, take advantage of the information you already have on previous customers, to spur growth from the preliminary stages of the relaunch. Refine your internal and external communication efforts. Perform a thorough financial analysis of the relaunch. To prepare for this unknown factor,create an exhaustive account of the financial costs of the process for the organization.
If you find yourself in the position of needing to reinvigorate your brand, to stimulate growth, don’t feel alone. Many of the most successful companies in the world, from Apple to Harley-Davidson, have undergone significant brand relaunches in their histories.
It’s a crossroads many leaders find themselves in eventually, and there are several vital strategic components that can help form the foundation of an effective brand relaunch:
Decide what core components need to be changed.
No matter what the reason is for your brand relaunch, it needs to be specific, targeted and backed up by a concrete plan. The first step in the journey is deciding which aspects of the brand need to be retooled; this will require a thorough evaluation of your core brand identity across all of its various components.
You may find, after a comprehensive review, that your brand positioning and distribution channels are suffering from misalignment. In this case, you could investigate alternative possibilities for distribution and work on creating a cohesive new positioning strategy that meshes with them.
Other times, you may discover that the entire suite of modules making up the perception of the brand needs to be changed, including the name, design and pricing structure.
Before you can begin to plan for the relaunch, you need a tangible idea of how extensive the process is going to be.
Leave no stone unturned in your research.
Most situations involving a brand relaunch are going to be long-term affairs, and the planning stages need to be filled with exhaustive research conducted on all aspects of brand performance so the reintroduction itself will have maximum impact. Depending upon the complexity…
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