Facebook is synonymous with social media and is very much a household name, so why have they, along with so many other big brands, decided to rebrand. Meta, as the company is now known, is one of many companies including Google, Hermes and others that have rebranded.
Why Rebrand a Company?
Choosing a company name is no easy task, there’s so much to consider, from social handles to similarly named competitors. These concerns are amplified when the company is already established, the larger the company the more challenging the rebranding process will be.
You may remember recently that Facebook (the company not the app) changed their name to Meta. While the company claims this is because of the ever-growing metaverse, many believe it’s for another reason. Let’s take a look at the reasons a company may rebrand…
Reasons for a Rebrand
There are a number of reasons a business may choose to rebrand, from social pressure to controversies. The way people look at a company can change rapidly and companies do their best to predict and prepare for these changes, both the positives and negatives.
Some brands, like Facebook and Hermes, have received negative reviews and opinions surrounding the business and use a rebrand as a way to move away from negative press and prove to their customers that they are changing.
Facebook was under constant scrutiny for spreading misinformation and causing other issues while Hermes was practically synonymous with bad customer service. Both brands decided to change their brand and image as a way to move past this.
Who Has Rebranded?
A number of companies have rebranded over the years. Google for example is now known as Alphabet Inc. to signal their move away from just search and advertising as they look toward new opportunities and acquire new companies.
Apple is another global brand that has rebranded. They were previously known as “Apple Computers” but chose to drop computers from their name. The company claimed the name change reflects the company's newfound emphasis on consumer electronics, a decade before the first iPhone.
How to Rebrand a Company
Before you rebrand, it’s crucial that you clearly understand your company’s mission, vision and values. Look at what makes your business special, why it exists and what values it follows. Also, look at your company’s brand voice as all this together forms the foundation of your brand, and no rebrand can be successful without it.
Your rebranding strategy also needs to work with your brand as it exists now, you probably can’t start from a clean slate. If you’re doing a partial rebrand make sure you incorporate your existing assets as you build your brand strategy.
Also remember that before you rebrand consider your audience, the market and your competition. Research what your competitors do and how you stand apart from them. Make sure your brand is going to be fresh and relevant without relying on a trend that will eventually fade.
Your team is your most valuable asset, whether there are 2 people or 200 they are the people that help your business grow and thrive every day. Take their voices and opinions into account, some of the best ideas and feedback could come from the people you least expect.
A new name is a big part of a rebrand but you can run into some issues when you’re renaming the business. There are trademark issues to consider, such as when another business has a similar name and this can damage both companies' reputations. You also need to consider how the name reflects your business values and ideals, while also making sure it is unique and stands out. The last consideration should be the wording, you want the name to be easy to search for and spell after all Amazon changed their name from Cadabra after someone got it confused with cadaver.
The next step is easier said than done, you need to rebuild your brand identity. A good strategy looks at the brand as a whole and decides what elements need to be tweaked, replaced or removed as part of your rebranding. You’ll need to consider the logo, your website, including the URL, business cards, packaging if it’s relevant as well as so much more. Make sure you spend a good amount of time considering all the fine details to get this spot on.
The final step once all this is done and out the way is to launch your rebrand and tell the world. Make sure you plan the launch properly and be ready to explain exactly why you chose to rebrand. Give customers a narrative they can follow to understand why you rebranded and why they should follow along with the new brand.
If this sounds complicated, it’s because it is. Surge can help though, while we can’t rebrand your company for you, we can make the process of getting your new name out there and help your company thrive. Interested? Get in touch.