Special Topics in Advertising Reviewer PDF

SPECIAL TOPICS IN ADVERTISING ADVERTISING IS AN ART REVIEWER - It blends creativity, storytelling, and LESSON 1: ADVERTISING emotional engagement to craft...

SPECIAL TOPICS IN ADVERTISING ADVERTISING IS AN ART REVIEWER - It blends creativity, storytelling, and LESSON 1: ADVERTISING emotional engagement to craft compelling messages that capture ADVERTISING attention and inspire action. - The activity of attracting public - It involves designing visually appealing attention to a product or business, as content, developing innovative by paying for space in newspapers concepts, and using artistic and magazines or by broadcasting techniques to evoke emotions and commercials on television or radio connect with audiences on a deeper (Cambridge). level. - Advertising is “the action of calling something to the attention of the WHAT IS PERSUASION? public especially by paid - Persuasion is an attempt to influence announcements (Meriam Webster). another person’s attitudes, beliefs, or behaviors. - It involves a communicative process in - Advertising is “any paid form of non- which message is crafted to produce a personal presentation and promotion desired change in the recipient. of ideas, goods, or services by an identified sponsor. (American ADVERTISING THEORIES Marketing Association). ELABORATION LIKELIHOOD MODEL (ELM) - Developed by Richard Petty and John - Advertising is the process of Cacioppo, the ELM posits that there information and persuading potential are two main routs to persuasion: the buyers to purchase a product or central route and peripheral route service (Business Dictionary). CENTRAL ROUTE ADVERTISING CAMPAIGN - Involves careful and thoughtful consideration of the content of the - A coordinated series of message advertisements and marketing - It is more likely to occur when the activities designed to achieve a audience is motivated and able to specific goal. process the information. - This could be increasing brand awareness, driving sales, launching a PERIPHERAL ROUTE new product, or promoting an event. - Involves less cognitive effort, where persuasion occurs through superficial cues such as attractiveness or the LESSON 2: THE ART OF ADVERTISING presenter or the sheer number of (ADVERTISING AS PERSUASION) arguments, rather than their quality. SOCIAL PROOF product. For instance, an athletic brand endorsed by a famous athlete - Based on the concept of conformity can be perceived as more high- and social influence performing and desirable. - Social proof suggests that people are more likely to adopt behaviors or STORYTELLING beliefs that they see other adopting - Crafting a narrative around a product particularly if those others are similar or brand to engage the audience and to themselves. create a memorable impression. - Influence on Consumer Behavior: Engagement: Well-told stories can PERSUASION TECHNIQUES capture attention and foster a deeper EMOTIONAL APPEALS connection with the brand. For example, a brand that tells a story of its - Emotional appeals involve creating an origins and mission can build a strong emotional response such as emotional connection with its happiness, sadness, or fear to connect audience. with the audience and influence their decision-making. GAIN VS LOSS FRAMING POSITIVE EMOTIONS - Gain framing highlights the benefits of a product or action - Ads that evoke happiness or nostalgia - Ads that focus on positive outcomes can build positive associations with (e.g., “Get 20% more with every the brand (For example: holiday ads purchase.) can motivate action by featuring family gatherings often use highlighting benefits. nostalgic and heartwarming imagery to create an emotional connection). - Loss framing emphasizes the NEGATIVE EMOTIONS potential drawbacks of not adopting the product or action. - Ads that use fear or anxiety (e.g., anti- smoking ads showing the health - Ads that emphasize what is to be lost consequences of smoking) can (e.g., “Don’t miss out on our limited- prompt action by highlight negative time offer”) can create a sense of outcomes. urgency and prompt action to avoid CELEBRITY ENDORSEMENTS missing out. - Utilizing celebrities to promote products capitalizes their popularity ETHICAL CONSIDERATIONS and perceived credibility. MANIPULATION - Influence on Consumer Behavior: - Persuasive techniques can sometimes TRUST AND ADMIRIATION – border on manipulation if they exploit Consumers may associate the emotions or deceive consumers. qualities of the celebrities with the  - Emotional Exploitation: Using fear or - CULTURAL BACKGROUND: Cultural guilt to influence decisions (e.g., “Buy values and norms influence how now or face consequences’) can be messages are received. (For example: seen as manipulative ads that use humor may be more effective in cultures with a high MISINFORMATION appreciation for comedy) - Providing misleading or false information to persuade consumers. - False Claims: Ads that make LESSON 3: SOCIAL MEDIA ADVERTISING exaggerated or unsubstantial claims SOCIAL MEDIA ADVERTISING (e.g., “This product will make you look 20 years younger’) can mislead - The process of using social media consumers and erode trust platforms to promote products, services, or brands through paid CONSUMER CONSIDERATIONS advertisements. - Ensuring that persuasive techniques - It involves creating targeted ads that respect consumer autonomy and are displayed to specific user provide honest, transparent segments based on factors like information. demographics, interests, behavior, - Information Decision-Making: Ads and location. should provide accurate information and allow consumers to make informed choices without under PLATFORMS pressure. - Popular social media platforms used for advertising include Facebook, CONSUMER RESPONSE Instagram, Twitter, LinkedIn, TikTok, Snapchat, and Pinterest. DEMOGRAPHIC DIFFERENCES - Each platform offers unique ad - Different demographic groups may formats and targeting option. respond differently to various AD FORMATS persuasive techniques based on their preferences, values, and experiences. 1. IMAGE ADS Simple visual ads - AGE: Younger consumers might be that usually include more responsive to social media a single image and influences and digital ads, while older text. consumers may prefer traditional 2. VIDEO ADS Ads that use video media and straightforward messaging. content to engage - GENDER: Gender-specific appeals viewers. (e.g., ads focusing on beauty and 3. CAROUSEL Ads that allow fashion for women) may resonate ADS users to scroll through multiple differently with male and female images or videos in audiences. a single ad.  4. SPONSORED Ads that look like POSTS regular posts but are paid for by FROM ORGANIC TO PAID advertisers to - Initially, social media platforms like reach a broader Facebook, Twitter, and Instagram audience. emphasized organic content, where 5. STORIES ADS Full-screen ads brands and users could share posts that appear in Storis section of and interact freely without monetary platforms like exchange. Instagram and - The focus was on community building, Facebook. engagement and authentic 6. INTERACTIVE Ads that encourage interactions. ADS user interaction ORGANIC REACH such as polls, quizzes, or - In the early days, posts from brands augmented reality and businesses could reach a large experiences. portion of their followers organically. - This encouraged businesses to invest KEY COMPONENTS time in content creation and community engagement without 1. DEMOGRPAHICS Age, gender, needing to spend on paid ads. income level, education, etc. SHIFT TOWARDS PAID ADS 2. INTERESTS Based on user - As social media platforms grew in activities and likes on popularity, they sought sustainable platform. revenue models. 3. BEHAVIOR Based on user - This led to the introduction of paid actions, such advertising options, allowing as purchasing, businesses to promote their content behavior, beyond their organic reach. device usage, and more INCREASED COMPETITION 4. LOCATION Targeting based - The crowded social media landscape on geographic made it challenging for brands to stand location from out organically. countries to - As a result, businesses increasingly specific zip codes turned to paid ads to ensure their 5. CUSTOM Using content was seen by a broader AUDIENCES customer data audience. to target ORGANIC POST specific users or similar GOALS audiences (lookalikes) ✓ Developing brand voice  ✓ Creating authentic relationships ✓ Provides detailed analytics ✓ Building brand awareness ✓ Laser-focused audience targeting ✓ Establishing your brand as an ✓ Higher ROI in the short term expert/thought leader in the industry CONS ✓ Driving traffic to your website ✓ Generating leads organically ✓ More expensive in the short term ✓ Grows less effective over time PROS ✓ Requires more maintenance ✓ Less expensive strategy ✓ Can require bigger budgets ✓ Requires less maintenance ALGORITHM CHANGES ✓ Generates consistent and sustainable traffic - Content Prioritization: Social media ✓ Builds trust and credibility in your platforms regularly update their brand algorithms to improve user ✓ Wider potential reach experience, often prioritizing content ✓ Higher ROI in the long run that is deemed most relevant or engaging to users. For instance, CONS Facebook’s algorithm favors posts ✓ It takes a longer time to produce from close connections, which has results diminished the reach of business ✓ Not advisable for time-sensitive pages. content ✓ Provides less control over - Engagement Metrics: Algorithms performance increasingly prioritize posts that ✓ Provides vague analytics in your generate high engagement (likes, audience behavior shares, comments). As organic posts from brands often struggle to achieve these metrics compared to personal PAID POST posts, their visibility is reduced GOALS - Ad Placement Algorithms: Platforms ✓ Achieving ROI like Facebook and Instagram use ✓ Driving clicks and impressions sophisticated algorithms to place ads ✓ Getting countable results in users' feeds based on their behavior, ✓ Hitting sales targets interests, and interactions. This ✓ Optimizing ads to reach maximum targeting increases the effectiveness effectiveness of paid ads but makes it harder for ✓ Testing and refining campaigns organic content to break through. PROS PUSH TOWARDS PAID ADS ✓ Quick to produce results - Limited Organic ✓ Provides more control over - Reach Content Quality and Relevance performance - A/B Testing and Optimization ✓ Useful for time-sensitive content ADVERTISING OPPORTUNITIES BIDDING STRATEGIES: - Creative Formats COST PER CLICK (CPC) - Viral Potential - A bidding strategy where you pay each - Adapting to Platform Culture time someone clicks on your ad. The - Targeted Advertising cost per click can vary depending on FACEBOOK ADVERTISING your target audience, ad quality, and competition. - Though demographics play an important role in any marketing COST PER IMPRESSION (CPM) strategy – they aren’t everything. - A bidding strategy where you pay for every 1,000 impressions (views) your - Segmenting simply by age doesn’t ad receives. This strategy focuses on allow you to get to the heart of who how often your ad is shown, rather your audience really is – age is just a than direct engagement. number and with social media, you can discover so much more. A/B TESTING ADS BUDGET - Also known as split testing, is a method used to compare different - Marketing Budget versions of a Facebook ad to - Target Reach determine which one performs better. - Duration of the Promotion - This involves creating multiple - Audience Quality variations of an ad and showing them to different segments of your target audience. BUDGETING AND BIDDING: - The goal is to identify which version DAILY BUDGET yields the best results based on predefined metrics, such as click- - A daily budget is the average amount through rate (CTR) and conversion you’re willing to spend on an ad set or rate. campaign each day. Facebook will try to optimize your ad delivery to stay RETARGETING within this budget on a daily basis. - Also known as remarketing, is a LIFETIME BUDGET powerful advertising strategy on Facebook where ads are specifically - A lifetime budget is the total amount shown to users who have previously you’re willing to spend over the entire interacted with a brand in some way. duration of an ad campaign. Facebook - These interactions can include visiting will automatically adjust the daily the brand’s website, engaging with spend to optimize for the best results content on Facebook or Instagram, throughout the campaign’s run time. adding items to a shopping cart without completing the purchase, or watching a video.  - The primary goal of retargeting is to re- how many people visit your site and engage these users and encourage click on your ads or take money from a them to take further action, such as business’s advertising budget. completing a purchase, signing up for IMPACT ON ADVERTISERS: a newsletter, or exploring more products. 1. FINANCIAL IMPLICATIONS - Click fraud directly increases the cost CHALLENGES IN FACEBOOK ADVERTISING of advertising campaigns without - Ad Fatigue delivering corresponding value, - Privacy Concerns draining resources that could be spent - Competition on genuine customer acquisition. LESSON 4: CLICK AND FRAUD SAFETY 2. DISTORTED METRICS ONLINE IN ADVERTISING - Fraudulent clicks inflate engagement metrics, leading to misleading data WHAT IS CLICK FRAUD? that can skew decision-making. - The act of illegally clicking on pay per- Advertisers may overestimate the click (PPC) ads to generate fraudulent effectiveness of a campaign or charges for advertisers. misallocate budgets based on - It undermines the integrity and corrupted data efficacy of paid advertising DETECTION AND PREVENTION campaigns. DETECTION METHODS: TYPES OF CLICK FRAUD: ✓ Analyzing Click Patterns: Unusual 1. MANUAL CLICK FRAUD patterns, such as high click volumes at - This occurs when individuals odd hours or consistent clicks from deliberately click on ads to inflate ad the same IP addresses, can indicate costs. Often, this can be competitors fraud. attempting to drain a company's advertising budget ✓ Monitoring Traffic Spikes: Sudden spikes in traffic without corresponding 2. AUTOMATED CLICK FRAUD engagement metrics (like conversions) - More complex and insidious, this can be suspicious. involves bots or automated scripts designed to click on ads without any human intervention, massively scaling ✓ Using Third-Party Tools: Tools like the fraud. ClickCease or ClickGuard specialize IS CLICK FRAUD ILLEGAL? in detecting fraudulent activity and can offer additional security layers. - Yes, through click fraud, anyone can try tricking PPC ads to make more money for their website as you’ll get PREVENTION METHODS paid for hosting your website based on  ✓ IP Blocking: Blocking IP addresses REGULATORY COMPLIANCE known for generating fraudulent ✓ Role of Regulatory Bodies: These clicks. bodies enforce advertising standards ✓ Limiting Ad Exposure: Setting strict to ensure fair practices and protect daily limits on the number of times an consumers. ad can be clicked from the same IP or device. ✓ Penalties and Compliance: Non- compliance can result in legal ✓ Click Fraud Protection Services: consequences, including fines and Enlisting services that monitor and public censure, which can impact the react to potential click fraud in real brand's market position and time. credibility. ETHICAL CONSIDERATIONS IN ADVERTISING: LESSON 5: INNOVATIONS IN ADVERTISING TRANSPARENCY DIGITAL TRANSFORMATION ✓ Necessity: Advertisers must be PROGRAMMATIC ADVERTISING transparent about the nature and intent of their ads, avoiding deceptive - Refers to the use of automated practices like hidden ads disguised as technology for buying and selling of content or misleading clickbait. advertising space, where software, rather than humans, handles the ✓ Consumer Trust: Transparency buying process. fosters trust; deceptive practices can erode this, leading to long-term - This method uses algorithms to negative effects on customer analyze viewers' behavior, allowing for relationships and brand loyalty real-time bidding and placement of ads to the most appropriate audience HOW PROGRAMMATIC ADVERTISING CONSUMER TRUST WORKS? ✓ Relationship: Trust is foundational to STEP 1: The user visits the any long-term customer relationship. publisher’s website Ethical advertising practices build and or app. sustain this trust. STEP 2: Publishers offer advertising space ✓ Impact of Violations: Unethical for purchase. advertising can damage trust, STEP 3: Advertisers bid for potentially leading to customer loss that space using and negative public perception. real-time bidding (RTB) STEP 4: The highest bidder wins the auction  STEP 5: The winning ad gets - This technology enhances real displayed to the environments with digital details such user real time. as images, texts, or animations. DIGITAL TRANSFORMATION EVOLUTION OF SOCIAL MEDIA PLATFORMS 1. ARTICFICIAL INTELLIGENCE (AI) DEVELOPMENT STAGES - AI in advertising involves using machine learning algorithms and big - Social media platforms have evolved data analytics to predict consumer from basic platforms for social behavior, personalize ads, and interactions (e.g., MySpace, early manage ad campaigns. Facebook) to complex ecosystems - AI can automate the creation of ad that incorporate features like e- content that adapts to user feedback commerce, live streaming, augmented and interactions. reality (AR), and more. WAYS TO USE AI IN MARKETING SOCIAL MEDIA DEVELOPMENTS 1. Ad optimization 1. Direct Engagements: Social media 2. Content Inspiration has enabled brands to engage directly 3. Scaled A/B testing with consumers through comments, 4. Sentiment analysis direct messages, and posts, 5. Campaign translation facilitating more personalized 6. Intelligent chatbots communication and building community. 2. VIRTUAL REALITY - Virtual Reality (VR): VR offers a fully 2. Seamless Shopping Experience: The immersive experience where the user integration of shopping features enters a completely virtual directly into social media platforms environment. allows consumers to make purchases without leaving the app, streamlining - This technology is particularly useful the buying process and increasing in advertising for creating life-like conversion rates. simulations where users can interact with a product or service in a 3. User-Generated Content: Now, controlled digital space brands leverage user generated content for marketing, enhancing 3. AUGMENTED REALITY authenticity and trust among - Unlike VR, AR overlays digital content consumers. onto the real world through devices such as smartphones or AR glasses. INFLUENCER MARKETING - A strategy that involves partnering with individuals who have significant online  followings to promote products, GEOFENING VS. GEOTARGETING services, or brands. - Geofencing: creates a virtual TYPES OF INFLUENCERS: boundary around a specific area to trigger ads when a device enters or Celebrities: High-profile influencers with vast exits followings. Macro-Influencers: Social media stars with - Geotargeting: which delivers ads large, but not celebrity-level, followings. based on the user’s current location within broader geographic regions. Micro-Influencers: Individuals with smaller followings who are often regarded as more relatable and authentic, typically specializing MOBILE COMMERCE in niche markets. - There is a significant growth of mobile commerce driven by the widespread CONTENT MARKETING INNOVATIONS: adoption of smartphones and high- speed internet. Shift in Strategy: Move from traditional advertising to content marketing, which - Now, businesses are optimizing their focuses on creating and distributing valuable, websites and apps to facilitate easier relevant, and consistent content to attract and navigation, faster loading times, and retain a clearly defined audience. streamlined checkout processes on Forms of Content: Include blogs, videos, mobile devices. infographics, podcasts, and interactive content that educates, entertains, or informs APP-BASED MARKETING the audience. - There is a widespread use of mobile apps and they have opened new MOBILE MARKETING AND THE ON-THE-GO channels for advertising. CONSUMER - Apps not only provide a direct line to LOCATION-BASED ADVERTISING consumers but also gather valuable - Utilizes GPS and geofencing data on user preferences and technologies to identify the behaviors. geographical location of consumers and deliver targeted advertisements DATA PRIVACY AND CONSUMER RIGHTS specific to their location. - In an era where consumer data is a - This approach harnesses the critical asset for marketers, there is capabilities of mobile devices to increasing concern over how this data provide real-time marketing is collected, used, and protected. messages. - Discuss the importance of data privacy and the impact of regulations  such as the General Data Protection holding onto losing investments longer Regulation (GDPR). than warranted. SUSTAINABILITY IN ADVERTISING CONFIRMATION BIAS - The advertising industry is increasingly - Individuals have a tendency to seek being scrutinized for its environmental out information that confirms their impact, leading to a shift towards existing beliefs or hypotheses while more sustainable practices. ignoring or discounting contradictory evidence. - Today, more and more brands are integrating eco-friendly messages and - This can lead to faulty decision- sustainable practices into their making based on incomplete or biased advertising campaigns to appeal to information. environmentally conscious consumers. ANCHORING AND ADJUSTMENT - People often rely heavily on initial information (anchors) when making LESSON 6: BEHAVIOURAL ECONOMICS judgments or estimates, even when AND NEUROMARKETING ADVERTISING that information is irrelevant or arbitrary. BEHAVIOURAL ECONOMICS IN MARKETING - Integrates insights from psychology - Subsequent adjustments from the and economics to understand how anchor tend to be insufficient, individuals make decisions in real resulting in biased judgments. world settings. AVAILABILITY HEURISTIC - Recognizes that human behavior is often influenced by cognitive biases, - Individuals base their judgments and emotions, social factors, and other decisions on the ease with which psychological phenomena, which may relevant examples or instances come lead to decisions that deviate from the to mind. predictions of traditional economic models. - This can lead to overestimating the likelihood of events that are more vivid or memorable, even if they are LOSS AVERSION statistically unlikely. - People tend to weigh losses more heavily than equivalent gains, leading SOCIAL INFLUENCE to risk aversion in decision-making. - People are influenced by the behavior - This can result in suboptimal choices, and opinions of others, leading to such as avoiding necessary risks or  conformity, herd behavior, and the 1. Eye Tracking adoption of social norms. 2. Anchor Effect 3. FOMO (Fear of Missing Out) - This can affect decision-making in 4. Emotional various contexts, including 5. Influencer consumption choices, investment 6. Color decisions, and voting behavior. LESSON 7: BRANDING !!!!: Overall, behavioral economics provides a valuable framework for understanding and BRAND predicting human behavior in economic and marketing contexts, challenging traditional - A brand is a name, term, design, economic assumptions and offering insights symbol, or any other feature that into the complexities of decision-making in identifies one seller’s good or service the real world. as distinct from those of other sellers” (American Marketing Association). TYPES OF BRANDS NEUROMARKETING 1. CORPORATE BRANDS: is a way for - Is the study of how people's brains companies to market themselves in respond to advertising and other order to give themselves an edge brand-related messages by against their competition. scientifically monitoring brainwave activity, eye tracking and skin response. 2. PERSONAL BRANDS: People use tools like social media to build their - These neuromarketing techniques are own personas, thereby boosting their used to study the brain to predict brands. This includes regular social consumer decision-making behavior. media posts, sharing images and videos, and conducting meet-and- 7 NEUROMARKETING TOOLS greets. 1. Biometrics 3. PRODUCT BRANDS: This type of 2. Electroencephalogram branding, which is also known as 3. Eye Tracking merchandise branding, involves 4. Facial Coding marketing one particular product. 5. Functional Magnetic Resonance Branding a product requires market Imaging research and choosing the proper 6. Implicit Response Tests target market. 7. Sensory Marketing 4. SERVICE BRANDS: This kind of branding applies to services, which LEVERAGING NEUROMARKETING FOR often requires some creativity, as you ADVERTISING  can't actually show services in a Loyalty is earned, and branding is an physical way. effective method to build that loyalty. 3. BRANDING SETS EXPECTATION: BRANDING When consumers buy into a brand - Branding is endowing products and proposition, they often do so because services with the power of a brand” they have expectations, and those (Kotler & Keller, 2015). expectations have been met or exceeded by the brand. If the brand - Is the process of giving a meaning to accomplishes this consistently specific organization, company, enough, that brand will become products or services by creating and synonymous with that delivered value. shaping a brand in consumers’ minds. It becomes the same as the desired result in the mind of the consumer. - It is a strategy designed by organizations to help people to quickly BRANDING STRATEGY: identify and experience their brand, and give them a reason to choose their BRAND NAME products over the competition’s, by - The name should represent every clarifying what this particular brand is piece of the business. It can be related and is not. to the raw material source of product, own name. One can also make it WHY IS BRANDING IMPORTANT? catchy or short for easier recall. 1. BRANDING DEFINES VALUE: The LOGO (GRAPHIC WORK) emotion, the connection, the - A great logo is simple, unique, perceived value. That is what a brand relevant, versatile and memorable. is. It’s what a customer thinks and Simple logos are easily recognizable. feels when they see a product, and why they choose that one instead of - Customers may even find themselves the other one next to it on the shelf. drawing logos when they doodle. They are paying for a feeling, an experience, something meaningful to them. - The goal is to not use overly complex images when coming up with your logo. 2. BRANDING ELICITS EMOTIONAL COMMUNICATION: Successful LOGO MEANINGS branding campaigns should create - It seems pretty simple at first glance, and nurture emotional connections yet if you look closely at the first letter, with customers. Because people you'll see that it resembles a pin we respond much better and more might use for papers or photographs. consistently when they feel an emotional connection to the message.  LOGOS BRAND STORY - A logo should exude relevance to your WHAT IS A BRAND’S NARRATIVE? industry. - Brand story allows a customer to - Selecting a bear for a financial planner connect to the purpose behind a may not be the best idea. product or service. “The most - Bears represent slow markets. It is successful companies in the world better to use a symbol, a color or a bull have profound stories behind them for the financial industry. (often deeply tied to their founders) - Versatile logos can easily be placed on that instill a sense of bigger purpose websites, cards, social media and meaning into what they do. accounts, t shirts, pens and pencils and still look great. - To develop a brand story, one needs to - Make sure that your logo can be sized remember and articulate why he/she to fit a billboard or a pencil. started the business and what it means. BRANDING GUIDE - This defines the color palette, BRANDING AND CONTENT typography, and overall theme and - Your content should communicate style that one can use in their your brand. And your message should marketing materials, on their website resonate with your target audience. and on social media. - Your content should be an experience TYPOGRAPHY of your brand. It should add value to a user’s understanding of your product, - Font Type services, and your brand as a whole. It - Texture relies heavily on storytelling tools and - Spacing techniques and utilizes multiple channels of distribution UNIQUE SELLING PROPOSITION (USP) REBRANDING - USP dictates how a brand talks to its audience along with how they present - Rebranding is the process of changing products, and how they differentiate the corporate image of an their brand from others on the market. organisation. It is a market strategy of giving a new name, symbol, or change in design for an already established TAGLINE brand. The idea behind rebranding is to create a different identity for a brand, - A tagline is a short, memorable phrase from its competitors, in the market that is used throughout the entire (The Economic Times). marketing that highlights the USP.  - Rebranding happens when a company competitors are doing, what is unique changes its logo, slogan, vision, about your brand, and how it differs mission, values, name, target from other companies in the same audience, or market to build a new industry. Identify your actual buyers brand identity in the minds of leads, and their preferences. Compare this customers, competitors, and data with your initial target market and partners. It helps brands attract new audience to find out some differences. audiences, stay relevant, stand out As soon as you manage to define your among competitors, and improve actual market and audience, you can brand awareness (SendPulse). go on implementing your strategy. BENEFITS OF REBRANDING 2. RETHINK YOUR MISSION, VISION, ✓ New Audience AND VALUES ✓ Higher Relevancy - Vision. Vision gives your brand ✓ Improved Brand Recognition direction and defines the actions your ✓ Improved Google Ranking company needs to take. ✓ Streamlined Teamwork - Mission. This defines the purpose of your company. Your mission describes 2 TYPES OF REBRANDING your primary consumers, the products you produce, and your location. It is 1. PROACTIVE: done when a company your business’ roadmap. As your recognizes that there is an opportunity mission changes, your messaging to grow, innovate, tap into new requires change too. businesses or customers, and to reconnect with its users. - Values. Your company’s values explain why you're working towards 2. REACTIVE: done in a situation when your vision, and why you’re committed the existing brand has be discontinued to your mission. or changed. Possible reasons for such a action could be mergers & acquisitions, legal issues, negative 3. RECONSIDER YOUR COMPANY publicity such as fraud, aiming to beat NAME the competition, or create your own - If you are seriously thinking about niche. changing your brand’s name, make sure that you have a plan of recovery REBRANDING STEPS: after you rebrand. In general, if your company name still aligns with your mission, vision, and values, it is better 1. REDEFINE YOUR TARGET AUDIENCE to keep it. Yet if it mismatches your - Conduct research to understand your identity, it is advisable to modify it. target audience, what your Make sure that your new brand name  conveys your message, is easy-to- spell and catchy. The right name also supports your goals and business growth. 4. REVISE YOUR BRAND SLOGAN - Your aim here is to create a slogan that communicates your company mission, vision, and is also memorable. Consider changing it carefully as it highlights the purpose of your brand. - keep it short, simple, and clear; use your unique value proposition; be consistent; ensure that it can stand the test of time; consider your target audience and market. 5. RE-ESTABLISH YOUR BRAND IDENTITY - There are several things you might consider changing about your company’s brand identity like your logo, shapes, imagery, colors, or guidelines.