There is always room for innovation and yet too often we see businesses that seem motionless. One reason why businesses fail is because they don’t “change with the times”. In other words they use the same marketing tactics over and over again. Those strategies may not work years later and as a result customer’s can lose interest. PepsiCo, however, is an example of a company that continues to rebrand in order to keep up with the needs of their consumers. As Americans become more health conscious, the soft drink industry has taken a major hit and they are feeling the effects. So Pepsi decided to change their image by starting the Live for Now campaign.
“Pepsi has always inspired people to embrace the ‘now’ by being at the epicenter of, and helping to define, pop-culture” as stated by a PepsiCo spokesperson. Pepsi recognized that something had to change because it was evident that the demand for sugary drinks was declining. One of the changes Pepsi made was to their bottles. For the first time in 16 years Pepsi changed the design of their bottles and the size. They are now making a single-serve bottle. The new bottle goes along with their line of healthier options including Diet Pepsi, Pepsi MAX and Pepsi NEXT. Not only does this say to the consumer that “we hear you” as people become more cognizant of their sugar intake, but it also speaks to how Pepsi has heard the concerns of their consumers.
So often we see companies waiting until they start to lose business before they make a change. Rebranding can often be just what a company needs. Rebranding can breathe life into a dying business. What better way to appeal to your consumer than with fresh, new and innovative ideas? Custom business gifts are great tools to use in order to help your business stay current. Many business owners cannot afford something like the Live for Now campaign, but they usually can afford to update their marketing strategy or corporate identity.
Logo items are a great place to start when considering how to update marketing. Pepsi changed its bottle design to meet the demand of a more health conscious public. Maybe instead of giving out the traditional wall calendar every year you could give a promo gift that is more current with the times like a laptop sleeve. Just like Pepsi something so small becomes a game changer. Most people carry their laptops around all of the time so they will constantly see your logo. It will be visible to people at the coffee shop, office, or on the train too! Branding your image on promo items like electronic cases that are often used will make it more appealing in an ever changing world.
6 Reasons Why Rebranding is Necessary
Consumers need to feel like companies are relatable and this helps them to stay relevant to their target consumer. Keeping up with the times and keeping pace with changing customer needs (e.g. accessibility, changing trends and technology) shows the consumer that your company is not scared of change and growth. An outdated brand could be seen by their consumers as old-fashioned and with that they run the risk of becoming stagnant which also could lead to loss of market share.
2. Outdated Image
One of the most common reasons for rebranding is modernization. Over time brands can be seen as outdated. One example of this would be Blue Bonnet Margarine. As times changed so did the branding and they started to offer a healthier In many cases updating may not be the main reason a company changes its logo or image, but a more modern image is often one of the motivations behind a rebranding project.
Technology evolves daily and there is no way for most people to gauge how fast the world is changing because of it. Technological brands are those that are related to software, hardware, the internet, satellites, etc. and for a company with products that offer constant innovation a rebrand should follow the rate of change of their product.
4. Developing a Corporate Identity
Not long ago the majority of organizations were regarded their logo as the primary base for their corporate identity. Because brand elements such as photographic style, visual language and a secondary color palette had not been defined yet it meant that there was a great deal of liberalism when it came to the corporate identity. The result was that the brand’s visual image usually became messy. In cases like this, further development of an organization’s corporate identity is something that must be addressed to ensure branding will remain consistent and recognizable.
The World is moving at a rapid pace and with things being as competitive as they are, your company may need to rebrand in order to change how they offering their products to the market, give consumers a more compelling reason to buy their products and once again grab the attention of their target audience. Rebranding is also a way to block or outmaneuver the competition.
Although not a reason most companies want to admit, but a bad reputation is definitely a reason for rebranding. If a brand has lost its’ good reputation with its’ target audience it could have a serious impact on business. Rebranding can help ensure that negative associations with the brand are dispelled. For example, after allegations came out about Tiger Woods’ personal life many of his sponsors dropped him as their companies spokes person, they saw that rebranding as a necessity.
How has your business used Rebranding to update your company’s promotion?
Did it make your business more successful?