Brands are living, breathing entities. You give birth to it, nurture and raise it to the best of your ability, hoping it grows big and strong, and watch it bloom into maturity. At different stages of its lifespan, you may need to take a step back and do a full ‘health check’ on your brand. When should you, or rather, how do you know when it is time to do so?
Change in products or services
Apple started off in the computer line and it didn’t begin with the success that it has today. It almost went bankrupt in the 90s, until Steve Jobs turned the company’s fate around. He took bold, radical steps to change the brand image into that which appealed to a new growing generation of tech adopters. Look where it is today, a brand many recognise for its iPhone more than its Macbook. They have expanded not only their product range, but also, evolved in terms of its branding, going from something that look like a drawing from a children’s story book to a rainbow coloured logo and presently, a minimalist design.
We can’t wait to see the next phase of Apple’s logo development, post-Steve Jobs era.
There are many reasons why you might find yourself with a new audience. For example, your business may have started out with one product, but slowly expanded to include a range that complements your total offering. This sort of change in your products or services could attract a different audience from your initial customer base, with the demographics, behavior and interest being totally different. If your audience has evolved significantly, then it might be time that your brand does the same. Rebranding helps your brand to evolve along with your audience, so that your vision and message continue to resonate with them.
There is danger in being over taken by complacency when your brand is a widely recognised, like popular men’s deodorant and body wash brand, Old Spice. It acquired a reputation of being “my grandfather’s” and no men under the age of 60 wanted to be associated with the brand. Fortunately, Old Spice realised that their brand was in dire need of transformation. Out comes ‘The Man Your Man Could Smell Like’, a campaign that not only made the brand appealing to men in general, but had women buying into the message too. Had Old Spice decided cling on to tradition and continue with the previous practice, they may have become Dead Spice.
A well-thought out campaign that helped revived an old brand, which would not have taken place had the brand owners felt it was too risky.
Merger or acquisition
Packet One Networks (P1) started in 2002, challenging the status quo of TM in providing broadband services to a potentially growing market. It performed so well that eventually, TM acquired a majority stake of the company in 2014, and in April this year, they unveiled a brand new name and logo to replace P1. Webe, the new telecommunications kid on the block, has plans afoot to make them a strong contender in the mobile sector, which is currently dominated by Maxis, Celom, Digi and U Mobile. It remains to be seen how far and extensive this rebranding exercise will go, if it will help capture a slice of the market and, equally important, how this affects their current customers.