89% of large company marketers surveyed consider brand awareness their top priority, and 77% agree that branding is critical to growth.
Branding makes your company known: Even in the digital age, kuwait phone number word of mouth recommendations play a significant role in the decision making of 91% of buyers.
When is it time to think about rebranding your business?
There are essentially two main reasons for rebranding. Both involve movement: either away from outdated or problematic elements of your old brand, or toward a new vision that better defines your business and allows you to expand into new markets.
1) Rejecting outdated elements to create a corporate identity
Rebranding allows you to shed brand elements that hold back or are simply associated with an older version of your mission, vision, and values. At the same time, you aim to create a corporate identity that highlights your unique selling proposition and makes it more relevant to your target audience.
An example of such rebranding is Yandex.Lavka. The fact is that there are three similar companies in the Yandex ecosystem, which they decided to differentiate with the help of branding:
"Yandex Market";
"Yandex Food";
"Yandex Lavka".