The American Marketing Association defines brand as “a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers.” Your brand’s essence is so important when differentiating your offer to your target audience. And gaining the trust of the group you need to reach is imperative to continue to build a solid, long-term relationship.
In the 2019 Most Trusted Brands Report, the United States Postal Service was determined to be the most trusted brand in the nation. Additionally, Amazon, Google, PayPal, and The Weather Channel rounded out the top five brands in this report. Each of these companies has expanded and revamped its brand over the years; let’s take Google as an example.
Brands Do Evolve.
Two Stanford University students created what is now the world’s most-used search engine in 1996. According to HubSpot, Google’s algorithm was initially called “BackRub,” as its search engine searched through the internet’s backlinks. And while a logo is a component of an organization’s entire brand, it says a lot about the organization. Behold: an early Google logo and the logo as of press time (sources: Digital Trends and Google). Imagine if Google didn’t constantly evolve its brand.
In our fair city, two of the most recognized brands recently went through updates of their own. The Las Vegas Convention and Visitors Authority recently debuted a new slogan to updated “WHHSH” with “What happens here, only happens here.” This famous tagline is very much a part of the overall brand that the LVCVA portrays about the uniqueness of visiting Las Vegas. With the new slogan came an overall marketing strategy that encompasses our special, world-class destination.
Also, our local chamber of commerce is now referred to as Vegas Chamber, reflecting the values that this organization holds true with a brand very focused on the “Vegas-ness” of the city. This author appreciates the vivid and clean design of the new logo and associated brand, which inspired the theme of this month‘s column: what are some best practices for planning and executing a rebranding campaign?
To Rebrand or Not to Rebrand…
When considering a rebrand, several factors come into play within the strategy and debut of the new or enhanced brand:
Research. Before undertaking a rebrand, market research is crucial. Questions like “Does my target audience strongly identify with my current brand?” and "In moving my brand essence in a different direction, will this group still recognize the value of my current brand?” It would even be beneficial to know if the target audience thinks a rebrand is needed; focus groups, surveys, and data would be helpful at the start of the process.
Differentiation. Again, a brand identifies how a good or service is distinct from others. When considering a rebrand, how can you truly showcase your value proposition to differentiate you from others? Having this strategic intent of setting an organization apart is imperative. And it’s also important to share this compelling brand story and value proposition in the right mix of both traditional and digital channels.
Communication. The average human needs to encounter information multiple times for it to make an impact. In communicating a new brand, it is critical for those within the organization to understand the reasoning behind it and how it will impact the day-to-day business. After the internal strategy comes external communication. When Southwest Airlines refreshed its brand in 2014, it was still consistent with the airline’s message of low fares, ease of travel, and even fun. As the rollout took place, the rebrand felt as though it were still in the same brand family and value proposition.
And that should be at the heart of any brand, whether it’s creating a new brand from scratch or rebranding a classic company.
This post was originally written by Shan Bates-Bundick for the Vegas Chamber’s March 2020 Business Voice magazine. Click here to view the original article.