Looking to breathe new life into your brand? Steer clear of these 5 common rebranding fails:
1. New Name, Same Product. Staying relevant requires more than a name change. In 2009, RadioShack reinvented itself as “The Shack,” unveiling a $200 million marketing campaign. Too bad the company didn’t fix its outdated business model in the process. Rebrands should reflect a tangible change in how or why a company does business—not serve as window dressing.
2. Modernizing a Classic. Remember, “If it ain’t broke, don’t fix it?” Tropicana should have heeded that bit of good advice before it scrubbed the classic orange from its juice cartons in 2009, replacing the recognizable symbol with a bland design panned as “ugly” and “generic.” Make sure you’re not trashing years of solid brand equity in pursuit of something supposedly “fresh.”
3. Hasty Decisions. The first step in a rebrand should be extensive research. Without it, businesses run the risk of making expensive mistakes. For SciFi Channel, the error was failing to recognize that an alternate spelling choice—SyFy—also doubled as a slang term for an STD. Not exactly the cool, text-friendly vibe the channel had in mind when it zeroed in on the creative spelling choice.
4. Dated Design. If you decide to unveil a new logo, make sure it’s current—not a relic from another decade. Several brands, including Holiday Inn and CapitalOne, have spent big bucks on a rebrand only to rollout new brand identities stuck in a bygone era. Rebranding is about the future: be bold!
5. The Cover Up. Rebrands should be about articulating a new vision, not covering up unpopular business decisions or erasing past misdeeds. In 2011, Netflix introduced Qwikster, a much-maligned DVD-by-mail spinoff of its more profitable streaming service.
Under the new structure, customers now had to create two separate accounts and profiles, not to mention pay a substantial membership increase. Customers abandoned Netflix in droves and the company said sayonara to Qwikster one month later. Luckily, the Netflix brand was strong enough to absorb the misstep.
For more on JConnelly's rebrand, click here.