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Rebranding is a process of creating a new identity or image for a company, product, or service. Rebranding can prove to be a daunting task, but done right, it can bring success and drive profitable growth. In this article, we’ll explore examples of successful rebranding stories and lessons learned.
1. McDonald’s
In 2015, McDonald’s went through a major rebranding effort to reconnect with the younger generation. With declining sales and fierce competition, the company realized the need to create a more modern, relevant image without losing sight of its core values. McDonald’s introduced a simpler logo and a new slogan “Lovin’ Beats Hatin’” that reflects its commitment to positivity and inclusion. The company also revamped its stores, menus, advertising, and social media presence.
The success of McDonald’s rebranding campaign is evident by its financial performance. After the rebranding, McDonald’s saw a 5.7% increase in sales and a 28% increase in profits. By focusing on simplification, positivity, and relevance, McDonald’s successfully reconnected with the younger generation and increased its market share.
Lesson learned: Rebranding should reflect the evolving needs and values of your target audience. Simplicity, authenticity, and positivity can help make your brand more relevant and appealing to younger generations.
2. Old Spice
Old Spice was once a brand that catered only to older men, but in 2010, the company wanted to expand its market base and appeal to a younger audience. The brand underwent a major transformation, creating a new, edgier image that tapped into core values of humor, masculinity, and confidence.
To attract a younger audience, Old Spice created a series of hilarious commercials featuring the legendary actor, Isaiah Mustafa. The commercials went viral, and the company soon became a social media sensation, with millions of followers.
The success of Old Spice’s rebranding campaign is evident by its significant increase in sales. After the rebranding, Old Spice saw a 107% increase in sales and a 60% increase in social media engagement.
Lesson learned: Rebranding must create a contemporary, authentic image that resonates with your customers’ core values. Creating a humorous and unique brand personality can help you stand out from the competition.
3. Burberry
Burberry is a luxury fashion brand founded in 1856 that had gone through a period of decline in the early 2000s. The brand had lost its exclusivity and was perceived as being too common. In 2006, Burberry embarked on a major transformational journey to reposition itself as a high-end luxury brand that is a true reflection of British heritage.
The company reorganized, investing in innovative technology, restructuring its sales channels and revamping its stores. Burberry also updated its iconic plaid pattern and launched new product categories like fragrances, eyewear, and watches.
The success of Burberry’s rebranding campaign is evident by its positive financial performance. In 2017, the company’s revenue exceeded 2.7 billion GBP, and it became the fourth most valuable luxury brand worldwide.
Lesson learned: Rebranding must revitalize and modernize your brand, while also preserving its heritage, and authenticity. Investing in innovation and brand building can create a strong emotional connection with your customers and help you stand out in a competitive market.
Conclusion
Rebranding is a challenging process that requires careful planning, execution, and evaluation. A successful rebranding campaign can help create a fresh image, increase market share, differentiate from the competition, and drive profitable growth. By identifying your customers’ evolving needs and values, creating a new, contemporary image that resonates with their core values, and investing in innovation, you can achieve great success with your rebranding efforts.
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