If marketing shouts what you offer, then branding proclaims who you’re are. Branding is the difference between knowing what you do, and being known for what you do. Establishing a strong identity that resonates with the principles of your professional vision is important to success.
Over time the principles and values of business may evolve and you may find your choice of slogan, logo or marketing themes no longer match the direction your business is moving in. That’s when it’s time to refresh your brand.
When you get to this critical business juncture, take the opportunity look at all aspects of your business and reassess the message you want to project to your clients and your industry.
Today we look at 5 companies that have successfully refreshed their brand and the impact it had on their business.
1. Old Spice – Give your audience what they want
Known previously for being the older gentleman’s after shave of choice, Old Spice hardly projected the image many young men were looking for. This all changed in 2010 when Old Spice posted a series of videos online featuring Isaiah Mustafa aka ‘ The Man Your Man Could Smell Like’. The Ads were directed at women rather than men, playing on the aspirational notion of ‘masculinity’. The ad series was a success and saw Old Spice revamp its brand image to break into the 12-24 age market and increase sales by 107%.
2. eBay – From start up to online juggernaut
eBay has developed into the world’s largest online marketplace. Initially the website functioned as an auction site for mostly second-hand and vintage products. These days however most listed items are new and customers have the choice to purchase items without going through the auction avenue. To reflect this shift in its sales strategy eBay unveiled a new logo in 2012. eBay President Devin Wenig said the change was largely metaphorical to indicate eBay’s desire to project itself as more than just an online marketplace. Effectively promoting eBay as the online shopping equivalent of Facebook.
3. Fitness First – repairing relationships through rebranding
Early this year Fitness First launched a $5m rebranding campaign to transform its corporate philosophy, customer service and public reputation. Departing from the original blue, Fitness First has adopted a new red hue, along with investing $20m to train staff and fundamentally change the customer experience. On the cultural front Fitness First has recognised key customer demographics and placed sponsorship dollars behind the Sydney Gay & Lesbian Mardi Gras and created the Fitness First Corporate Triathlon National Series.
4. QAGOMA – Creating brand unity
For years the Queensland Art Gallery (QAG) was the premier arts institution in Brisbane. 6 years ago however the immensely popular Gallery of Modern Art (GOMA) was launched. The stark differences between the galleries lead patrons to believe the two institutions were in competition. The solution came in amalgamating the two to create the QAGOMA. The galleries now work in partnership to offer complementary experiences to patrons.
5. Virgin Australia – Changing target markets
In 2011 Virgin Australia (then know as Virgin Blue, V Australia, Polynesian Blue and Pacific Blue) was the centre of a brand revitilisation. The goal was to move away from its budget airline reputation to appeal to business clientele. The first step was to unify the various branches under one brand name, Virgin Australia. The second step addressed both the tangible and intangible elements of air travel. The result was an 81% growth in corporate and government revenue and 118% improvement in statutory net profit on the prior corresponding period.
Is your business in need of a rebrand or refresh? Tell us how you would approach it in the comments.
The eBay Marketplaces logo is a trademark of eBay Inc. Used with permission.