#MarketingMinds Chat Insights – Rebranding
On 16th March, Meltwater unveiled our beautiful makeover to the world, including our next generation platform and a whole new look and feel, from logo to brand colours! Fittingly, we thought it would be cool to discuss rebranding in the latest #MarketingMinds chat, so here are the insights.
Q1. How would you define a brand?
@AdotIdotspace and @mcsaatchimena both believe a brand is anything linked to an end product or service that identifies a company from its competition. Moreover, @themiceblog understands a brand to be a set of standards. As @Kat_Plunkett points out, standards can help create trust with our audience, though @kandesign and @JBBC remind us to ensure these standards are consistent through all brand touch points.
A brand is used as a shortcut to ignite a range of ideas and emotions that can help the audience with the evaluation process. When we see an advert for Johnsons & Johnsons baby, we automatically think of words like gentle, fresh and clean. This has helped the brand diversify into different markets, for example make up wipes, as the audience continues to view the Johnsons & Johnsons brand in this way, we are likely to continue to see more and more products introduced into their portfolio.
@firedogcreative offers a slightly more abstract definition of a brand, defining it as experience and culture. Experience, culture, employee knowledge and brand history are all examples of qualities linked to a brands image that are hard to imitate. This makes them sustainable competitive advantages and key areas to focus on when delivering a unique selling point against competition.
Q2. What are the benefits of rebranding?
@ThinkDesignbuzz confirms rebranding and change tempts the audience to stop and look again, something which is difficult to encourage considering the average person is likely to see 3,500 marketing messages a day. @kandesign agrees stating rebranding can help increase awareness of a brand and offers us a chance to engage with our audience in a meaningful way. Similarly, @Spectreoutreach and @firedogcreative feel rebranding can help create fresh value for a product or service.
@JBBC and @themiceblog both write rebranding is sometimes necessary, for example changing business environments, moving strategic direction, shifting perceptions or the expansion of new market segments or original brand offering. @mcsaatchimena also acknowledges this, expressing how things change and even well-known brands need to move with the times, this sometimes involves rebranding in order to remain fresh and relevant.
@Kat_Plunkett states rebranding has the added benefit of ensuring relevance to beneficiaries and alignment with strategic direction. @firedogcreative agrees adding rebranding is about showing our values through careful positioning and a consistent look and feel.
Q3. What’s the most important factor to consider when rebranding?
@themiceblog states the most important factor to consider when rebranding is staying true to our existing customers and communicating the benefit of rebranding to them so no perceived value is lost. From an internal comms perspective, @Kat_Plunkett thinks it’s important to make sure that all employees are brought along on the rebranding journey as they are a huge part of delivering brand values. We can ensure this by starting engagement with employees early and helping them to feel ownership of the process and new brand, as well as having clear guidelines. In addition, @kandesign suggests the Marketing and HR department collaborate to further streamline the rebranding process.
On the other hand, @brandingmag believes the most important rebranding factor is deeply involving the audience and using customer insights to see whether our audience have a clearer articulation of brand values and purpose. This can be achieved via social listening. Meltwater’s media monitoring platform allows us to filter comments on social by location, gender and sentiment so that we can easily analyse how our new brand is resting with our target market and devise plans to action accordingly.
Q4. How do you know if your rebranding was a success?
Similar to the point mentioned above, @mcsaatchimena states that increased brand engagement is a sign of success, although this must of course be positive. Social media is not the only place we should be tracking in order to understand rebranding success. Online monitoring tools that track news publications can also be used to understand the difference in:
- Media coverage
- Share of voice
- Geographic spread
- Top publications interested in the rebrand
- Top themes mentioned around the brand since the launch
Q5. What’s your favourite brand and why?
@Kat_Plunkett’s favourite brands are smaller organisations who are pros at conveying what they’re about, for example Cultivate Oxford. @mcsaatchimena opts for a much larger brand, putting Apple forward due to the effortless buzz that surrounds the company. @themiceblog feels Four Seasons is worth mentioning due to their effective brand consistency, excellent customer service and modern luxury positioning.
@kandesign proposes Spotify as a top brand, stating their recent rebrand is also really interesting to look at due to their shift in personality and identify – from a tech brand to a music brand, raising the question as to whether millennials will buy in or not? @ThinkDesignbuzz’s favourite brand is Canon due to their array of high quality products, whereas @firedogcreative loves Honda because as a brand it’s bold and always pushes boundaries.