Brand Rejuvenation – Here’s What You Need to Know
Brand Rejuvenation might sound like any other marketing mumbo-jumbo, but rest assured, it is a thing that you might need at some point.
Why? Well, It seems like the world has been taking a few exciting turns this past decade. From the internet revolution, the rise of social media and the pandemic last but not least.
We can see that it is not merely trends that are ever-changing; the state of the world also changes along with it. This teetering state of the world requires brands to stay on their feet.
While companies continue to prepare for whatever changes come their way, brand rejuvenation might be the answer.
Let’s Define Brand Rejuvenation
Brand Rejuvenation is the marketing strategy involving the revival to the existing appearance and – as the Gen Zs might say it – the ‘vibe’ of your brand. To put it another way, you are changing how your customers view your brand.
Rejuvenating your brand deals with visible elements to the outside world while keeping your brand foundation untouched. These external elements include things like your logo, brand cooler scheme, website, and your tone and manner.
Though there are no set rules on what kind of situations should make you start embarking on brand rejuvenation, there are a few things you might want to pay attention to. Let’s take a look.
How To Do It Right?
Before starting a brand rejuvenation project, try asking yourself: “Am I doing this for the right reasons?” The truth is, some businesses think that changing their look and feel would be practical to resolve their recurring internal or external issues.
In reality, brand rejuvenation won’t help improve their performance. It is necessary to fix the core of the problem before changing their brand.
As mentioned before, brand rejuvenation only touches the surface level of a brand. It works best for companies who have reached the maturity stage of their business life cycle, especially when they see a decline in sales. With that, it is ideal for organisations that are performing well internally, are known, and are respected by their current audience.
However, keep in mind that you know your brand the best. If you think that your brand needs to hold on to your initial brand in the name of maintaining the “classic feel” of it, then you shouldn’t feel the pressure to rejuvenate your brand every few years or so.
Take Biskuit Roma, for example, an Indonesian cookie brand. Biskuit Roma is keen to maintain its brand as a cookie that “Transcends Through Time.” Therefore, the public always recalls Roma as a constant part that has been with them since childhood.
What if you still feel like you need to hop on a brand rejuvenation project though you haven’t reached maturity yet? Well, that can also be done. Some brands believe reputation matters more than anything else, and they are not wrong. The stakeholders’ impressions of the brand dictate how people behave towards it.
The question is, how much attention needs to be given to this? This is where you should decide whether you choose to manage these perceptions or leave them to chance.
The Curious Case of LEGO
Who’s unfamiliar with the brand LEGO, the Danish toy brand? Founded in the 1930s, LEGO has become very popular and loved by people around since. However, little did we know they had a pretty significant fallout in the early 2000s.
In the late ’90s, LEGO became obsessed with expanding its brand with complex and innovative product designs. The situation might doesn’t sound so bad. Unfortunately, they seem to have accidentally forgotten about their roots while busy manufacturing thousands of action-figure-like pieces.
After losing $300 million in 2003 and is projected to lose another $400 million for the following year, LEGO finally decided that it is time to get to the bottom of this.
The marketing team started to do extensive research. It turns out all those crazy new designs LEGO created had never actually resonated with their target audience: kids.
LEGO discovered that kids didn’t care about complex LEGO designs. They wanted to build. As a result, LEGO got rid of all those fancy pieces they put out and had their marketing team work with the product designers to make sure they were creating LEGO lines that kids truly wanted.
As the grand finale, LEGO partnered with an agency to create a campaign that reflected this new brand. They make sure that the audience understands that LEGO is a thrilling and fun game for children’s imagination.
This rejuvenation comes out well. In 2015 the company brought in $5.2 billion in revenue, making LEGO the second biggest toy company globally.
As you can see, it’s tricky and straightforward at the same time. We can accept the fact that it can be difficult to take an objective look at your brand.
When you know your brand like the back of your hand, it can be pretty hard to see how the public perceives your image. You probably can’t figure out why sales are declining, or people aren’t connecting with your brand.
If that’s the case, it is always advisable to hire an expert who can offer a fresh perspective and structured initiatives to ensure your brand can reach its maximum potential.
If you think that it is time for you to refresh your brand, Krona is always open for you to consult.
Furthermore, we can partner up to create a thorough brand rejuvenation strategy and put it out in the digital world.