Brand Navigation through the Pandemic
BIJI KURIAN
Brand Consultant & Co-Founder J&B Associates | Senior Director Consultant BNI Cochin Region | Helping entrepreneurs to build profitable relationships
The need for re branding has always been puzzling. It dangles as an unnecessary risk especially when things are going fine. So the final decision to execute a rebranding is like moving a mountain, from the brand owner’s perspective.
The need for re branding is real.
Times change fast. A large chunk of customer base also keep changing with time. Customers get old. A new generation of customers emerge. Drastic social and economic changes may happen; like what Covid has done to the entire world.
This should be a wake up call for brands to show freshness and new vitality, rather than be content with the existing static and stagnant feel.
According to a 2020 article by McKinsey, 75% of Americans have changed brands during the pandemic. The reasons were found to be value, availability and convenience. Obviously there is a shift in preferences after the lifestyle turmoil they have been experiencing.
People were subjected to unforeseen hardships. Resultantly there is an escalated quest for transparency, authenticity and moreover, simplicity. Younger generation want brands to be more sustainable and mission-driven rather than vision-driven. Brands now need to reveal their renewed purpose and adaptability for a constantly changing unpredictable future.
Brands need to brace up for the post-pandemic future. Some of the oldest and world renowned brands like Pfizer, General Motors and Burger King has already done re branding.
Brand needs to retain a fresh and familiar visual feel to make sure that the re branding doesn’t further alienate customers. Experts know how to execute re branding cleverly.