How successful rebranding can open up new markets for your business. By Candice Chung
Regardless of the core business of a company, one of the main aims of of rebranding is to change the expectations you’re setting for your stakeholders.
Companies typically find themselves at a strategic crossroad in response to changing market conditions or increased competition, says Nicole Hartley, Senior Lecturer of University of Queensland Business School. Or they may consider rebranding as a way to support growth strategies that involve moving into new markets – extending their appeal to a wider range of clients, a different gender or age group.
No matter the reason, there is one common thread between all successful rebranding campaigns. “Rebranding done well involves acceptance and continued brand loyalty by your established consumer market,” says Dr Hartley.
Below are some stand-out examples of Australian companies that have broken new grounds by re-energising their brands while maintaining customer loyalty, according to Dr Hartley.
Virgin Blue In 2010, the company renamed and repositioned themselves as Virgin Australia. This was in response to a drop in market share and revenue after entering the market as a low cost airline. Keen to compete in the upmarket business and leisure segment, they repositioned the brand with a new culture and a new customer experience. The comprehensive rebrand led to a name change and focused on a more contemporary look and appeal.
‘Rebranding does well involves acceptance and continued brand loyalty by your established market’ – Dr Nicole Hartley
Woolworths’ notable 2009 logo relaunch involved a signatory new W for Woolworths, styled with a green apple and accompanied by a new tagline, “The Fresh Food People”. The rebrand hits back at the growing perception that a large percentage of Woolworths’ food was imported. Importantly, it reflects the company’s commitment to fresh produce, which was proudly Australian grown. Their additional commitment includes showcasing the baked goods section within the stores, so shoppers could see fresh food production in action.
ANZ wanted to focus on delivering a brand image that pushed them from being a domestic to an internationally recognised brand – particularly in the Asian markets. A new tagline for the bank – ‘We live in your world’ delivered on this in their 2009 campaign. They also launched a new logo that spoke to a more diverse population. The use of a lotus as the main image “represents ANZ in all its markets regardless of language”, and signifies cultural resonance with the Asian market.
Super Retail Group’s 2012 rebranding campaigned aimed at making a clear distinction between two of their flagship brands – Amart (All) Sports and Rebel Sports. The shift was to rename Rebel Sports as ‘Rebel’ – repositioning it as a premium sports retailer, while enhancing the focus on a female sports enthusiasts market. Rebel Sport had been identified as overly masculine, and the revamp of Rebel (with a new yellow and black logo), together with an effort to make its product offerings more women-friendly, ultimately helped to expand its female market.