Reasons you may need to do some rebranding for your existing company
There will be situations where rebranding is warranted. We’ll look at what they are now. A merger occurs when two or more businesses come together and form one. Most likely, those businesses already have their own logo. But a makeover is applied when they merge into one. This is because it’s important to highlight each company’s strongest attributes.
Let’s begin with the name.
After a merger, there are three possible approaches to choosing a new name for market branding. A compound name can be created from the first two names.
Let’s cite a few examples of rebranding strategies these following brands used.
- Consider United Airlines and Continental Airlines as examples. While United Airlines remained, the two merged in 2010. The newest Continental Airlines worldwide emblem was merged into the name and design. United is now the only name used most frequently since the firm has deleted the word “airlines” from its vocabulary.
- Price Waterhouse at Cooper’s was created by taking a portion of each. The corporation needed to be rebranded once more 12 years later. Making up a brand-new name from scratch is another option.
- Verizon is the result of a merger, in case you didn’t know. Yes! Following the merger of Bell Atlantic, the multibillion-dollar business was established. Since the corporation completely removed the word “Airlines,” the most common name used to refer to it is now simply “United.”
- Or you might go back to 1998 when Price Waterhouse and Coopers & Lybrand amalgamated. For Price Waterhouse at Cooper’s, a portion of each was seized. Create a brand-new name from scratch as an alternative.
- Did you know that Verizon was created through a merger? Yes! After Bell Atlantic’s merger, the now multibillion-dollar firm was born.
We will dive deeper into this very shortly. Everyone has a price and sometimes the price for an entire company is enough to sell it entirely. When this happens a potential name change depends on the power of the companies involved. Some examples of company acquisitions include Procter & Gamble, Blanc Gillette, Apple buying Siri, and the most famous Facebook buying Instagram when Facebook took over in 2012. The photo-sharing service kept its name but slowly started to take shape of a Mark Zuckerberg social network. It wasn’t for a couple of years that the logo became what it is today, which is a slicker and a much more digital version of its original self.
In 2017, I returned to the Huffington Post. After Arianna Huffington stepped down as CEO and Lydia Poll Green took over, the company underwent another rebranding. Not only did the logo change, but the website also received an update to reflect the change in leadership. A new rebranding strategy can now be developed to celebrate the change, whether it’s a new CEO, marketing director, or editor-in-chief. It is critical to keep control of your company’s image.
However, if you have poor marketing or inconsistent messaging, the public may interpret it in ways that were never intended. If this occurs, it is most likely time for a complete rebranding overhaul. Burberry’s price reductions in the 1990s were a prime example of this. Well, it was meant to be a luxury brand that was being worn by obnoxious low-class people. Individuals’ behaviour associated with the brand became so bad that wearing Burberry was prohibited in UK pubs. Yikes!!
So, Burberry accepted the challenge and launched one of the most well-known rebranding campaigns in history. They were self-assured, and innovative, and attracted some of the most attractive faces to their brand. They became known as high-fashion once more, and throughout it all, they kept the same logo. That is, until 2018, when the logo received a modern makeover despite its 90s-inspired fashion. The personalities and interests of demographics are constantly changing, so what piqued the curiosity of teenagers 20 years ago may not pique the interest of young teens in 2019.
If your primary audience is 40-year-olds, a professional rebranding may be required. Consider MTV when you want it to be much younger. The company was largely successful among teens in the 1980s and 1990s, but those kids are now teenagers themselves. So they recently conducted market research, hired journalists and millennial influencers, and changed their image without changing their logo. For years, they would design an entirely new logo for the VMAs each year, but that is no longer the case. TNT, another television example, produced a logo in 2017 which was aimed to last. The channel, like MTV, was popular in the 1980s and 1990s. We all know that drama was their catchphrase. However, they decided that they wanted to reach.
What we know as an alternative stay for vacations away from home started as an app to help the budget. Travellers find a spare couch to sleep on as people started to list more upscale places Airbnb had to adapt from couches. TNT Apple has changed its company logo several times to stay ahead of the game. The Apple shape has remained but the fill has changed with the times to keep their loyal customers happy and to look like they are walking with the times.
So, if your company falls into one of the categories that we discussed, I strongly recommend devising a rebranding strategy that could be an entirely new name or just a simple change in your logo.