How to Rebrand Your Business by Changing Your Target Audience?
Even after putting in a lot of research, big businesses could not secure a large customer base. They begin to trace faults in their overall outlook and presentation. But it does not mean that only unsuccessful companies choose to rebrand themselves. We have recently seen how Facebook got changed into Meta. And this does not mean that Facebook was not doing well. To grasp this concept more vividly, let’s try and understand what rebranding is.
What Is Rebranding?
Rebranding is a process when companies try to start fresh by changing their logos, taglines, and color palettes. For instance, one could have noticed how big fashion brands such as Gucci have allowed collaboration with renowned hip hop stars and edgier catwalk models to make its clothing more inclusive to the likes and dislikes of the millennium. If you are still not clear why they might have done that, here are a few reasons why a business requires rebranding.
- The target audience is not a considerable size and cannot yield sufficient profits for the business.
- When companies have a target audience that is too large, they end up selling fewer products. This is because by trying to reach everyone, there is a chance that they will get to no one. So it looks for ways to narrow down its customers.
- Current target audiences have insufficient buying power, so companies redefine their business for a new audience.
- When seeking to expand their product and services to a new country, companies look towards rebranding as the only possible way to do it.
Rebranding by Changing the Target Audience
There are a few ways popular businesses can rebrand themselves to suit their new target audience.
Change Your Logo
Logos are a way in which most companies communicate with their target audience. Big fashion companies such as Louis Vuitton have changed their logos to make them more precise, and thus, they have a better way of explaining their business to their customers. Colors and designs can have a substantial impact on the target audience’s minds. That’s why companies need to change their logo as the first step towards rebranding.
Transform Your Ads
When shifting towards a new target audience, a company needs to have an ad aligned with its unique look. For a young audience, the company should project a more energetic advertisement. Therefore, just changing the logo does not seem enough for rebranding a business. One needs to project the idea behind that logo to the audience through ads to make them aware that the company is relevant to their new target audience.
Invent a New Way to Communicate
Let’s understand this concept with an example. GLPS is a big name in the wind, aerospace, and construction sectors. This company has the job of ensuring that buildings remain protected from lightning. So, the company wanted to project its image as the one that can empower others to take charge.
Therefore, the company changed its logo that earlier had its name to a logo with a lightning surge sandwiched between its logo, reflecting its ability to control lightning. This is how big businesses invent new ways to communicate with their target audience.
Top Fashion Brands That Have Rebranded Themselves By Changing The Target Audience
Rebranding a business to meet the needs of a new target audience is difficult. Some fashion brands that did it flawlessly are:
Calvin Klein has recently rebranded itself to resonate with the needs of the youth. They have also changed their logo to upper case to present a more bold and youthful image. This was backed by their successful TikTok campaign to clarify that they are trying to incorporate youths into their target audience.
Gucci is one of the big names in the luxury fashion industry, and its popularity had started to fade off by the time Marco Bizzari joined the company. Marco started a rebranding campaign to save its name by adapting itself to its millennial audience by fusing modern streetwear with luxury clothes.
Louis Vuitton made huge changes in its logo to make it more accessible. The brand also collaborated with streetwear brands to make its offering more acceptable among the younger audience. Its monogram has also been used in several ways, ways in which the brand would not have used it in the past.
Similarly, there are a lot of businesses that are rebranding themselves for a new target audience. However, clothing companies find it utterly difficult to shift their target audience, as they will be required to buy new clothes to meet the demands of their new customers. This is where Fashinza comes in. Fashinza is a B2B apparel manufacturing platform that helps clothing brands manufacture their collections by connecting them with suppliers. Get in touch now!