5 Indian Entrepreneurs Share Shocking Truths About Costs of Rebranding

Rebranding in India: Unveiling the Real Costs Shared by Influential Entrepreneurs

Rebranding is a serious business strategy adopted by companies aiming to reinvigorate their brand image, cater to changing market demands, and differentiate themselves from competitors. However, it's not merely a matter of redesigning logos and updating the website. A well-planned rebranding project requires substantial investments in various aspects of a company's visual identity and customer interactions. Five successful Indian entrepreneurs have shared their sincere experiences about the true costs and challenges involved in rebranding, serving as valuable lessons for aspiring entrepreneurs and business owners.

Challenges and Shocking Truths Revealed by Indian Entrepreneurs

The five Indian entrepreneurs who have candidly shared their rebranding experiences are: Sanjeev Bikhchandani - Founder, InfoEdge (Naukri.com and 99acres.com); Ritesh Agarwal - Founder, OYO Rooms; Manish Singhal - Founder, Moonshot Ventures; Saurabh Goyal - Co-Founder, Tracxn; and K Ratnayaka - Co-Founder, Board Infinity. The challenges they faced, the mistakes they acknowledged, and the lessons they learned would be enlightening, and will instill a sense of humility in those considering this daunting endeavor.

1. InfoEdge's Rebranding: Creating a Safe yet Innovative Transition

Sanjeev Bikhchandani, the founder of InfoEdge, arguably one of the pioneering players in the Indian online space, and the parent company of popular job portals Naukri.com and real estate marketplace 99acres.com, shared his experiences when rebranding the company. He believes that the biggest challenge was creating a safe yet innovative transition. "We retained the key elements of our brand identity like the logo font and colors, while carving out a new narrative. Therefore, the cost involved wasn't extremely high, but ensuring that our audience understood the shift while retaining the trust they had bestowed upon us took considerable time." he said.

2. OYO Rooms: Taking Bold Steps Towards Global Recognition

OYO Rooms, founded by Ritesh Agarwal, is one of India's most successful startups. The well-known hotel chain rebranded itself in 2019 to OYO Hotels & Homes to signify the expansion into new markets and offerings. A significant amount of money was spent on rebranding, but the company justified this expense by expanding into new territories like the US and Europe. They collaborated with top-notch ad agencies to create an appealing campaign. Ritesh Agarwal opined, "Rebranding was a challenge since we were extensively relying on the new image to draw more investors and eventually go public. However, the costs were substantial, but we stuck to our strategy and reaped the benefits now."

3. Moonshot Ventures - Understanding the Market Demands

Manish Singhal, the founder of Moonshot Ventures, has successfully backed over a dozen startups, some of them becoming household names. In his opinion, it is crucial to take an understanding of the demographic, geographic, and economic factors associated with the target audience during the rebranding process. He said, "To ensure that our brand image resonates with our unique audience, we've rebranded at least two to three times. As we venture into different areas, bigger market places, and cultures, our branding evolves costing us a little higher each time."

4. Tracxn's Story of Ensuring Consistency through Rebranding

Saurabh Goyal, co-founder of Tracxn, a global provider of market intelligence to investors, has made it clear that consistency is key in the branding area. They have rebranded multiple times, focusing on creating a strong narrative. "Our brand goes through subtle changes every few years, costing us around Rs 10 - 15 lakhs each time, considering we are a small company with a limited budget. We spend time understanding our evolution, and reviewing our stand, stories and beliefs each time to ensure consistency," Saurabh Goyal indicates.

5. Board Infinity: Adapting and Conquering New Challenges

K Ratnayaka, Co-Founder of Board Infinity, emphasized the importance of adapting to new challenges and innovations. "We have been fortunate to keep our brand intact every time we venture into new areas, the transition has caused us a little dent on our budgets, every now and then." He said, "Board infinity carved out a niche market by targeting early-career professionals, invigorating the image of the brand and producing profound results. Our visual representation evolved with our brand image, and it didn't take us off-guard when adapting to new areas." K Ratnayaka said in an interview.

The Crux of Rebranding: Key Takeaways From Successful Indian Entrepreneurs

While the entrepreneurs mentioned above have shared their challenges and costs, a deeper understanding would lead you to some sound takeaways that would help you tread the path of rebranding with ease and success. Firstly, ensure that the brand name, logo, and tagline all align with changing customer needs and market demands. Secondly, make sure to outline a robust plan to redesign your website and rebuild your digital presence. A smart allocation of budget is also necessary, since if one aspect is compromised, the entire process could be impacted. Lastly, practices like brand storytelling and focusing on creating meaningful connections with your customers can enhance your chances of your rebranding project flourishing.

Rebranding with Cpluz - Charting a Course to Success

We have spoken to some leading Indian entrepreneurs' on their stories of rebranding, but what follows is the ultimate guide to perfect a seamless rebranding experience. At Cpluz, we believe that rebranding should be designed to generate meaningful brand-consumer connections. Our team of expert designers utilize the power of innovative design to both revitalise and solidify a brand's visual identity. Whether your venture aims to reinvent its image, establish a stronger presence in its industry, or simply carve out a niche for itself in the market, our services of logo design, graphic design, web design, and digital printing can pave the way for the much-needed facelift. For a successful rebranding experience, contact Cpluz at info@cpluz.com or reach out to us on cpluz.com.