4 INSIGHTFUL TIPS FOR A SUCCESSFUL REBRANDING STRATEGY

When it comes to rebranding as part of an eCommerce business strategy, there are a lot of things to consider. You want to ensure that your new brand name reflects your company's values and mission and that it will resonate with your target audience.

However, companies make a few common mistakes when they rename their brand. Avoid these four big mistakes and be on your way to a successful rebrand.

Be Mindful of The Timing of Your Brand's Renaming

In October 2021, Facebook abruptly changed its brand name, surprising everyone.

The name Meta is humorous and futuristic. It allows Meta to separate itself from Facebook, a name currently associated with spam and baby boomers.

The problem wasn't with Facebook's brand renaming. The problem was the time. Over the whole month of October, employee-turned-whistleblower Frances Haugen presented news organizations, lawmakers, and regulators with some internal documents, proving that Facebook is aware of the harm its products caused but does little to try to solve those issues.

During that media flurry, Facebook decided to announce its rebrand as Meta. Consumers and the media saw this as a clumsy attempt to divert attention away from negative headlines. Meta lost even more favor from the general population.

Be aware of your public image while renaming your company to prevent this mistake. What possible connotations might the brand rebranding have?

If you are concerned that it may appear that you are trying to conceal anything or influence the media to cover something else, think about postponing it as part of your eCommerce marketing.

Keep An Eye On Your Brand's Assets

Consignia replaced the British Post Office Group as its name in 2001. According to post office leadership, this name stood for a "modern, helpful, and entirely acceptable" brand.

Before making a choice, no consultation with the British population was conducted. For all the wrong reasons, brand renaming became one of the most well-known examples in history.

In their hurry to transform their reputation, The Post Office Group missed that "post office" was a great brand asset that the public loved. A year later, Consignia was replaced by the Royal Mail Group and removed from the list of unsuccessful brand renames—possibly to win back some public goodwill.

Consider the components of your company's image that your target market considers appealing to prevent this kind of brand renaming failure. The Royal Mail Group, for example, thought that their intended audience wanted a name that communicated jazzy modernism. People only wanted to send letters, so they used the post office.

Do Not Make It Hard For Your Customers

In 2020, The Pearl Milling Company took the place of Aunt Jemima as the organization's name. The fact that Aunt Jemima's brand name and artwork were based on the racist mammy stereotype is an excellent demonstration of the need for brand renaming. It needs to be replaced right now.

The company's past inspired the brand name Pearl Milling Company in the milling industry. But it's also time-consuming, complex, and challenging to remember. Due to the name change in the first place, customers would have needed to communicate. Because the new brand name has little to do with pancakes, syrup, or anything else the business sells, making that new connection is challenging.

The renaming of the Pearl Milling Company brand was probably done to avoid a sales decline while eradicating a negative reputation, not to boost sales. Sales declined, however, and I concur with most marketing experts that alternatives unquestionably outclassed Pearl Milling Company.

Informing clients of the name change will lessen customer confusion, helping you to avoid making this brand-renaming mistake. Aim for emotional resonance and remember that shorter names are frequently preferred (Pearl Milling Company feels so...inert).

Don't Risk Using Your New Brand Name

Comcast was known for having poor customer service despite its size. The business changed its name to Xfinity after receiving the 2010 "Worst Company in America" award . To appear more forward-thinking, negative news was carefully avoided.

It wasn't successful. Comcast's decision to shift resources from improving subpar service to misleading its customers only annoys customers. Comcast was again given the disgrace of being designated the Worst Company in America in 2014.

Conclusion

Companies should do extensive research before embarking on a rebranding effort and be clear about the reasons for the rebrand. All stakeholders should be considered, and a clear plan should be in place. The rebranding effort should be consistent, and companies should be patient and follow through. Lastly, once you’re onto your rebranding, make sure to have the best eCommerce advertising campaigns in place.

Logo Media is an innovative media production firm that places a strong emphasis on planning, creativity, design, and cutting-edge technology. Contact us for an eCommerce business strategy!