Recognizing the right time for a rebrand — PART III
In our previous blog posts, we explored the reasons related to structural and strategic drivers for a rebrand. For this week, we will conclude with functional drivers that attribute to a rebrand. Understanding these drivers and the key goals within them can help you determine whether or not this is the right time to pursue a rebrand.
Functional drivers.
The third category of drivers for rebranding is functional. The overarching goal for leaning into this strategy is to improve the weaknesses of your existing brand. These vary greatly but are important in building an enduring brand:
Name Weakness
Name Confusion
Design Weakness
Advertising Breakthrough
Legal Requirements
Name Weakness
If your product is stellar but your brand is struggling to gain traction, it’s possible that you need to consider revamping the name of your organization. When consumers struggle to say your brand name correctly or can’t figure out what you do or stand for, that could also be a sign that change is needed. Ever heard of the brand Cadabra? Probably not. Jeff Bezos originally named his online bookstore Cadabra (short for abracadabra), however lawyers cautioned him the name could be too closely related to cadaver. While this change occurred early on in Amazon’s existence, keeping the original name likely would have raised some eyebrows and potentially slowed the company’s growth. This example leads into the second functional driver: Name Confusion.
Name Confusion
Had Bezos stuck with Cadabra, it’s possible enough people would have confused the company for something to do with human bodies–non-living ones at that. Name confusion isn’t totally rare and it can creep up as more companies in different industries use similar names and as the digital world continues to be more accessible.
Rather than investing in additional communications and advertising trying to educate and defend the original name, it can be more lucrative to pursue rebranding as a way to launch a new name and fresh brand identity. In those instances leaders aren’t completely convinced that a new name is the right strategy to take, the Daake team recommends deep research within the industry, among customers, employees and prospective audiences to determine just how much name confusion there is and how it is impacting the company’s bottom line. From there recommendations are made as to how big of a change the name should be–a completely new name and feel or an altered version of the original.
Design Weakness
Like name weakness, there are instances where a business has a strong vision or even product but its brand look and feel just don’t do it justice. Consumers gravitate towards brands that sound and feel like their lifestyle and that reflect their personal values. Rebranding is an artform that seamlessly brings together the organization’s vision with strategic design. This is the most powerful way to engage both internal and external audiences. Creating a new visual presence can bring visual strength to a brand.
Advertising Breakthrough
Some organizations use an advertising breakthrough as a reset button for the brand. This allows them to re-engage existing audiences and even expand into new markets. This type of rebranding often introduces a character or visual representation of the brand.
One of the greatest examples of this type of rebranding is Geico. Not only did the insurance company launch a campaign solidifying the phrase “15 minutes could save you 15%” in consumers’ minds, it also introduced the GEICO gecko into our living rooms. This breakthrough gave the company new life and continues to lead its communications efforts. While the brand has expanded into different creative campaigns, the gecko remains a steadfast element of the brand.
Legal Requirements
This final strategic driver of rebranding is linked closely to the name challenges presented earlier. We have helped several organizations rebrand due to a legal issue with their name or some other element of their brand. The cause could be an error on their part when the company was first created, or it could be due to something completely out of their control. Possibly one of the most common examples of a legal requirement triggering a rebrand is with logos. This is especially challenging in athletics as teams use similar mascots. Artwork is considered intellectual property and duplication of any kind can result in expensive and brand-impacting consequences.
As part of the rebranding process, Daake works collaboratively with our client’s lawyers and trademark specialists to help organizations retain or transfer existing brand equities.
At pivotal moments, rebranding is the most effective way for leaders to signal significant change. Are you at a pivotal moment? Drop us a line, and we'll be in touch.