Social media has revolutionized the way brands function and sell their products. It has completely redefined the way companies interact with their clients and customers. Social media has forced brands to reinvent themselves. Earlier, good content was interrupted by advertisements. Due to social media, advertisements have become good content themselves. It is heartening to see that brands have adopted social media as their new outreach platform and have started engaging with their customers more intimately. Brands reinventing themselves have to keep a host of important aspects of rebranding on social media on their minds. Moreover, social media marketing pricing affects the extent to which brands are able to reinvent themselves.
What is Rebranding?
With the advent of social media, brands have had to shun their conventional means of outreach and adopt newer ones. This is the essence of rebranding. During the rebranding process, a brand’s old image undergoes metamorphosis and comes out as a better and modern version of the brand. Many popular brands have successfully undergone this procedure and have then ended up acquiring a significantly greater market share. Rebranding is impossible without tailoring the brand to capitalize on social media marketing.
Importance of rebranding
Many brands shell out large sums of money based on the social media marketing pricing. The money spent reaps huge dividends later as the brands go on to increase their market share. An important brand that underwent a huge rebranding was Wipro, when it moved from petrochemicals to software solutions. Rebranding can allow brands to enter uncharted territories or completely change their offerings as well. Rebranding can help companies acquire new users or expand their existing consumer base. Overall, rebranding offers a huge business potential to brands and companies alike.
Know your audience
In order to perform a successful rebranding, you must know who your audience is and what they come to you for. You need to know your existing consumer base inside out as well as your product offering. If you have these basic pre-requisites in place then you can proceed with social media marketing. There are various social media marketing services in India that companies can choose from in order to reinvent their brand.
Options in Social Media Marketing
Different brands shell out different sums of money based on social media marketing pricing plans. Every brand manager glances at the social media pricing sheet to pick the best option available.
Many firms have come up that exists solely for the purpose of helping companies with rebranding. They offer attractive packages to companies and brand managers pick the best ones based on the social media marketing packages cost.
Know your requirements
A lot of brands jump into the rebranding process just because it offers the potential of acquiring more customers. They don’t have a clear vision or a clear plan of growth for their brand and they just expect the firms they outsource this job to, to figure it out. This is the wrong approach.
Before entering the rebranding phase, you should clear as to what you want and what your brand vision is. You must know what your requirements are in terms of customer acquisition and brand image. Then you must effectively communicate this to the team or firm involved with social media marketing and rebranding. Social media marketing pricing will vary greatly based on your demands and expectations.
Communicate your requirements
You need to ensure that you effectively communicate with the social media marketing team whether you wish to expand business for your current product or introduce a new offering. Without a clear vision, your brand will be directionless and even if there is some growth in business, it will not consolidate well with the core business.
Social media marketing pricing
Most brands are not aware of what social media marketing entails and hence they rely on special firms and trained individuals for this. This means that they have to divert a section of their revenue into this venture. Some brands think that this is a waste of precious funds and they’re doing well without it. This couldn’t be farther from the truth. A brand needs to allocate a fixed percentage of its revenue towards social media marketing to remain competitive in today’s market.
Relevance of Social Media Marketing
To stay relevant in today’s world, it is important that every brand adopts social media marketing. The amount spent on social media marketing pricing will be easily recovered later on once the campaigns start boosting business. The investment in rebranding and social media marketing will result in better revenue growth by reaching out to newer customers. Social media marketing also serves as a good outreach method. Even if people don’t buy your product, they will become aware of your brand and your brand will become more visible to the world.
Tracking
A lot of brands spend a lot of money based on social media marketing pricing but they don’t know how to understand the outcomes of the money spent. Social media marketing in rebranding is important but just throwing money at it will not get the job done. You need to actively track the results of your social media marketing campaigns. You need to check how much revenue it is adding to your revenue stream and how many customers it has added to your tally. Also, you need to see the outreach you have received through your social media marketing campaigns.
Final thoughts
Social media marketing and rebranding go hand in hand. This sector which was termed as new just a few years ago has taken the advertising sector by storm. More and more brands are trying to reinvent themselves using social media to become more customer-centric and customer friendly. Existing brands are facing stiff competition from new brands that have effectively mobilized their social media presence to boost sales and revenue. With more and more people using handheld devices to use social media sites, this sector is only set to become more important. It is only logical that brands try to utilize the platforms on which their prospective customers spend their time.
