Relaunching brands safely and effectively
Pro tips on how to revive your brand safely and effectively while mitigating IP risks
A brand that has completely lost its commercial presence from the market by way of the product being phased out from manufacturing and distribution is called a “zombie brand”. Despite the dramatic name, such brands still hold a recall value in the mind of the consumers. Based on the level of this recalling power a “dead” or “zombie brand” can be resurrected.
The key to success for any brand is its customers. So, the very first step should be to reconstruct around the customer. It’s important to take advantage of the early origin and presence of the brand from a time when there was no existence of the current players and thereby weave the origin story and create the missed place in customer’s mind and revive it. Renaming or redesigning the brand can be a great option as well, if in line with the direction of the business.
Prior to relaunching a dead brand few of these best practices need to be followed:
- Its important to map the end objective the brand is trying to achieve from the relaunch. In other words, it’s good to begin knowing the end and rebrand and not relaunch in a vacuum.
- When a dead brand is to be relaunched, there must be an edge attached to it for its target audience to care for it or to draw their attention towards it.
- Extensive research should lie at the heart of such a relaunching process, when you identify the components that needs to be changed. At the same time, you need to asses, run trials and refine and finally launch your brand messaging boldly.
- As mentioned earlier, customers are always the backbone towards the success or decline of any brands. So, for resurrecting a dead brand it is important to aim your previous customers. They will be the ones who would respond to the relaunch the fastest. The key is to take advantage the brand loyalty that they had and capitalise on their recall value.
- Also, communication is the key. It is important to refine the communication efforts.
- Needless to mention that a thorough finance plan and analysis needs to be performed prior to such relaunching.
What are the key IP risks to consider when reviving your brand?
Copycats who would ride on the goodwill of the dead brand and gain advantage, causing dilution to the brand’s goodwill and value. Thus, making it more difficult for the actual brand to be revived.
Also, wastage of a business’s funds on renewing the brand’s registrations.
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