What do Apple, Burberry, and Volvo have in common?
Aside from being known as global brands, these brands have, at one time, gone through a rebranding process. As they enjoy the fruits of their labors today, find out what lessons can be gained from their rebranding journey.
If you plan to embark on the same journey, then it is best that you acquire the services of a reputable branding agency to guide you towards achieving rebranding success.
Managing a Makeover
There are times when a company has to go through a rebranding process. Whether it is a simple touch-up or a full-blown makeover, going through the whole procedure requires time, effort, and resources. Not only that, it will also require a solid team who can ensure that everything will run according to plan and achieve the targets with flying colors.
Aside from the internal stakeholders, it would be advisable to seek the services of professionals and specialists who have the experience and expertise in reviving flagging brands. These brand experts can lend an objective eye and a helping hand to steer your brand towards the branding and business goals that you have set.
Rebranding is not just about changing the look of your logo or using a different color font for your wordmark. It is a holistic effort that will entail a thorough analysis of your company’s past, present, and future. Doing in-depth market research, completing a comprehensive review of current practices, and taking a strategic approach to your company’s outlook are some of the fundamental steps that need to be taken.
Securing the services of a brand strategy firm or brand consulting agency will greatly help in devising a sound plan for your rebranding efforts. Aside from giving you objective third-party insights, they can also bring valuable facts and data derived from the best practices and benchmarks in various industries.
Through a reliable and professional third-party branding partner, you can learn from the lessons that other companies gained from their own rebranding journey. Here are some examples of what you can do to strengthen your rebranding efforts and achieve success:
1. Cater to Customer Needs While Offering Quality Products
J. Crew’s sales were going downhill in 2003, but when Millard Drexler came in as CEO, they dramatically went on a rebound. Under his direction, J. Crew saw its first profit after five years in 2005 with $3.5 million.
J. Crew also responded to what its customers wanted – basic clothing with an air of luxury. It changed its image into one of a store that sells basic tees and chinos but also makes cashmere more accessible to its shoppers.
A similar story has also been spun in the tale of Burberry. The epitome of British sophistication since 1856, Burberry went through turbulent times in its checkered history. Somehow, the brand became “gang wear” in the ‘90s to such an extent that some pubs even went as far as banning people wearing the brand from getting in.
With the arrival of Riccardo Tisci, the brand went through a makeover, starting with a refreshed visual image. The Nova Check was dropped in favor of the interlocking T and B in honor of Thomas Burberry. The fashion line also continued to release high-quality clothing and even rode on the luxury streetwear trend. Popular celebrities like Emma Stone and Kate Moss as brand ambassadors also propelled the brand to rise and regain its place in the echelons of fashion royalty.
2. Blend Heritage with Current Demands
Volvo also went on to rebrand its company by making its heritage relevant to today’s times.
A Swedish brand that is known around the globe for safety and reliability, Volvo’s road to success was not as paved as they would have wanted. Even with the solid niche of Volvo enthusiasts, the parent company AB Volvo sold Volvo Cars to Ford in 1999.
Ford decided to reinvent the wheel and, in this case, Volvo’s unique DNA. It didn’t particularly jive with the new brand positioning. Ford wanted to label it as a luxury car, but using shared platforms with Ford, Land Rover and Mazda. Volvo loyalists started questioning if using a platform like Ford’s C1 for the Volvo C30, for example, can be considered luxurious.
It didn’t help that the 2008 global financial crisis also hit. In 2010, Ford handed Volvo Cars to a Chinese auto start-up, Geely. This is when Volvo got its much-needed boost.
Geely carefully reviewed the brand positioning and poured in funds for research and development. While it didn’t fully abandon the luxury take, it supported its claim with innovative and quality products that answered the needs of the market. It went back to the core qualities of Volvo – building cars with safety, quality, and care for the environment. It then expanded its reach and worked towards achieving its ambition of being a leader in automotive connectivity, autonomous drive technology, electrification, and of course, safety.
Since 2010, it has continued its upward growth and declared a 9.8 percent rise in 2019 with a global sales record of 705,452. Its comprehensive transformation involved repositioning Volvo not just as a premium car brand, but also as a company that delivers freedom of movement in a safe, sustainable and personal way.
3. Maximize Use of Clever Advertising and Social Media
The brand mentioned above, as well as other stellar examples such as Apple and Old Spice, also maximized the use of clever advertising and social media in their rebranding efforts.
A rebranding story wouldn’t be complete without mentioning the journey that Apple took. With Steve Jobs at the helm, Apple transformed into a sleek, savvy, and stylish tech giant. It got rid of the stereotype that computers are only for the geeks. With its visual evolution, astute brand messaging, and a keen understanding of the market, Apple was able to lord it over the technology sphere.
Old Spice is another brand that made use of inspired social media interaction with its audience. Using a popular celebrity in the person of former NFL star Isaiah Mustafa, it released a series of commercials that aimed to give a sweeter note to its otherwise “old grandpa” scent. With its online videos and digital responses to online queries, not only did Old Spice become a viral sensation, but it also made the brand smell so much sweeter to the sophisticated noses of its target publics.
Reinventing Your Brand
Whether it’s going back to your heritage or exploring new avenues, reviving your brand entails careful assessment and exquisite execution. To ensure that you will have a strategic course to follow, it is best that you call on our brand experts at Yellow Branding today. With their sharpshooter skills in injecting verve and vigor, you can look forward to a flourishing brand and business.