Change is afoot. If you live in Ontario, you’ve seen a lot of revisions since our last general election. With the release of the new budget, further change was announced in the form of rebranding. The province is rolling out a new official government logo and slogan, as well as new license plates and drivers’ licences. The goal is to “reflect and reinforce a simple common brand standard rooted in qualities of trust, responsiveness, better customer experience, caring and fairness”. A change in leadership is often the impetus for a rebrand and on average, brands and organizations change their corporate identities every seven to ten years. Will the Ontario government succeed with its new attitude and the slogan Working for You? That remains to be seen. For now, let’s take a closer look at rebranding.
There are many reasons to embark on a rebrand. Have you noticed the new Netflix logo that plays before an original production? See the tweet below for the announcement made February 1. What about when ING Direct became Tangerine? The simple reason behind that rebrand was a change of ownership, but the thought and effort that went into the transition were anything but simple. Here are some more reasons why companies pursue rebranding:
- A change in company image
- New partnership that requires an umbrella brand to cover individual brands
- Major change in recipe, services, etc.
- An attempt at distancing from an old brand
- Effort to boost flagging sales
- Update for a look to reflect current times
- Geographic business expansion in need of wider appeal
SOME PERSONAL NEWS: Starting today there’s a new logo animation before our originals. It shows the spectrum of stories, languages, fans, & creators that make Netflix beautiful — now on a velvety background to better set the mood.
And before you ask: no, the sound isn’t changing pic.twitter.com/itwYXRe6ZF
— See What’s Next (@seewhatsnext) February 1, 2019
Spending a lot of time, money and effort on a rebrand is unwise if the change isn’t justified. Without a reason, rebranding is a solution in search of a problem. People are resistant to change and can resent a trusted brand that alters its look. Consumers also want to avoid the hassle of downloading a new app, learning a new procedure, or otherwise adjusting to a rebrand.
When a company rebrands, there’s an assumption that something has shifted and customers who were already satisfied with a product or service may be skeptical. Look at what happened to Tropicana. They changed their packaging in 2009 and sales dropped 20 per cent. It was a short-lived experiment because the orange juice giant reverted to the familiar orange with a straw less than two months later. It probably took a lot of orange juice to swallow that $35 million marketing misstep.
An unsuccessful rebranding can be disastrous. Changing a product’s name can affect SEO and make it harder for customers to find the new version of an old brand. Don’t throw out the baby with the bathwater. A name change needs to be motivated and a new name should still reflect the product and the industry. This video from design company Crowdspring takes a look at four major rebrands and how they fell short. It also gives some advice on how to avoid the same fate.
A Big Investment
A rebrand is no small undertaking. For large enterprises, it can cost millions of dollars. Every piece of company-branded marketing can be affected. That means a website, printed materials, business cards, and more need to be amended. Anything with company branding needs to reflect the new font, logo, colour palette, and attitude. A successful rebrand takes a lot of work!
Video for the Assist
Video is an excellent rebranding tool. It’s more engaging than other forms of media, which means it’s a great way to let existing and potential customers know what’s new. An explainer can quickly and easily tell a viewer about changes and how they’re affected. Addressing a rebrand will put minds at ease and give you a chance to justify the move. You can also use it as an opportunity to build excitement by telling everyone why it’s a change for the better. Finally, seize the opportunity to engage with your audience by asking for feedback. If you’re rebranding, call us today to see how we can help with a positive transition.