RxBar's successful rebranding took them from $2 million a year to $160 million a year. Read on to find out how they did it.
What is rebranding?
Rebranding is the process of changing a brand's image or marketing strategy. It involves giving an already established brand a new name, logo, creative elements or a change in design.
The goal of rebranding is to create an identity for a brand that is different from its competitors in the market. This process can range from small touches to the renewal of the brand's logo, slogan and even its name.
When is the right moment for rebranding?
Understanding the right time to redesign your Amazon brand is crucial. Here are some tips on when you should consider rebranding.
Stagnant sales: If your sales have stagnated despite your best marketing efforts, it might be time for a change. Stagnant sales can also indicate that your brand or packaging design needs to change to stand out in your niche.
Changing market trends: Market trends are evolving. If your product design or packaging design looks dated, it may no longer align with your target audience. For example, if your target audience is Generation Z, your branding can't be a boring, generic design that won't resonate with that demographic.
Negative feedback. Negative comments about the product's aesthetics, functionality or packaging may indicate a need for a redesign. Always listen to customer feedback, no matter how harsh.
Brand evolution. As your business grows, your brand's vision and mission may evolve. Rebranding can align your products with this new direction.
An example of this can be seen in the table below, which shows the evolution of BP's logo over the years.
The message BP wanted to convey with its new logo was that it could offer new fuels other than fuel oil and to emphasize the environmentally friendly green transformation image of its fuels.
BP soon achieved the desired return. In the time after the change, people quickly got used to the new logo and modern brand awareness emerged.
Competitive pressure. If your competitors are constantly outpacing you with more modern, attractive designs, it may be time to refresh your brand to compete with what is currently on the market.
An example of successful rebranding:
Rx Bar:
Rx Bar may not be well known in Turkey, but in the US it is the most well-known and successful protein bar brand on the market, which you can often find on grocery store shelves or at a Starbucks counter.
Launched in 2013, RxBar currently holds 22% of the protein bar subcategory on Amazon.
1.RxBar / $27.5 M / 22
2. PureProtein / $15.4 M / 12%
3. KIND / 15.4 M $ / 12
4. ALOHA / $12.4 M / 10%
5. IQBAR / $11.3 M / 9%
6. Legendary Foods / $10.2 M / 8%
7. Quest Nutrition / $9.4 M / 8
8. Cilf Bar / $8.5 M / 7%
9. Atkins / $7.6 M / 6%
10. Go Macro / $6.8 M / 5%
RxBar's original packaging did not stand out from the competition. It didn't show the potential customer why it was different from other brands.
You can have the tastiest and healthiest bar ever, but the packaging needs to communicate these attributes of the product in the best possible way.
In 2016, RxBar decided to change their old packaging, which you can see in the picture above, because the packaging did not stand out from the competition.
Instead of saying that their products are natural and “made from natural products”, they showed it in full by highlighting the natural ingredients on the packaging.
The packaging redesign has made a big difference for the company!
In 2013, RxBar had $600,000 in sales 9 months after launching. In 2014, it had sales of $2 million and after the rebrand in 2016, sales grew to an estimated $160 million!
Rebranding doesn't always mean just changing your logo or updating your website; rebranding can touch many aspects of your company, creating a renewed identity. Here are some key areas where you can rebrand your company:
1. Brand name
Why should you rebrand?
Your name may be outdated, too generic or no longer reflect your company's vision and mission. You may also need to expand into new markets that your original name cannot adapt to.
Impact.
A new name can revitalize your brand, making it more relevant and attractive to your target audience.
2. Logo and visual identity
Why should you rebrand?
An outdated logo or one that doesn't match your current brand message can hinder your market presence.
Impact. A refreshed logo and visual identity (including color schemes, typography and imagery) can make your brand look more trendy or professional, increasing customer perception and recognition.
3. Slogan/slogan phrase
Why should you rebrand?
Your slogan or tagline may no longer accurately reflect the values of your company or the benefits and advantages of your products.
Impact. A new catchy tagline can summarize the essence and value proposition of your brand, making it more memorable and engaging.
4. Brand messaging and voice
Why should you rebrand?
Your brand's tone and message may need to evolve to better connect with your target audience or reflect changes in your company's direction.
Impact. Consistent and up-to-date brand messaging can strengthen your brand identity and ensure clear, engaging communication with your customers.
5. Product packaging
Why reinvent your brand?
Unattractive or ineffective packaging can negatively impact customer experience, brand perception and sales performance.
Impact. Redesigned packaging can enhance the customer experience by improving functionality, aesthetic appeal and brand awareness.
Is rebranding right for your business?
Rebranding is a big decision that should not be taken lightly. Aside from the potential cost and time commitment to rebranding, you should also consider its impact. Consider all the possible consequences of rebranding, positive or negative.
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