Snapchat illustrates the power of rebranding
Rebranding is a powerful strategy that can boost media exposure, help launch a new product and pull a company together to overcome new market challenges.
Snapchat was in the news late last week as they rebranded their parent company to Snap. Understanding the fundamentals of rebranding is crucial to ensure success.
If you rebrand incorrectly or for the wrong reasons, it could destroy your market momentum and business. Domains play an often overlooked however essential part to the rebranding process.
When is the right time to rebrand?
Many critical factors lead up to the need to rebrand including changing market dynamics, new products, and differentiation from your competitors.
As companies pivot and grow their product offering, initial branding may box in your business and message.
For example, startups are encouraged to be laser focused on a target audience and product. The original branding may create barriers for new products.
One of the main reasons for rebranding is if your brand name is restricting you from evolving and expanding the business.
Ask yourself these questions to determine if your current brand is inhibiting growth.
Branding and domain strategies are almost inseparable. These same rebranding principals also apply to your domain name decisions. Often the domain name a startup acquires is based on keeping the investment down which leads to adding more words such as LLC, group, associates, etc. Upgrading your domain to an exact match or shorter version of your brand can be the first step in a strategic pivot.
Snapchat rebrands to Snap
Last week Snapchat rebranded to Snap to encompass its efforts to pivot beyond the mobile app space. This is an excellent example of how shortening your brand and domain creates simplicity and power.
Snap raised $1.8 billion in May and had plans to introduce a new product to increase engagement and revenue. They needed a structured platform to expand and not create confusion with their main product Snapchat.
Moving to Snap.com is a brilliant branding move that provides an effortless interaction thru their brand.
Although they are currently only using the domain Snap.com for their corporate communications, this gives them a parent platform to interact as they expand product offerings.
Here are their three main sites:
Complete article here
Rebranding is a powerful strategy that can boost media exposure, help launch a new product and pull a company together to overcome new market challenges.
Snapchat was in the news late last week as they rebranded their parent company to Snap. Understanding the fundamentals of rebranding is crucial to ensure success.
If you rebrand incorrectly or for the wrong reasons, it could destroy your market momentum and business. Domains play an often overlooked however essential part to the rebranding process.
When is the right time to rebrand?
Many critical factors lead up to the need to rebrand including changing market dynamics, new products, and differentiation from your competitors.
As companies pivot and grow their product offering, initial branding may box in your business and message.
For example, startups are encouraged to be laser focused on a target audience and product. The original branding may create barriers for new products.
One of the main reasons for rebranding is if your brand name is restricting you from evolving and expanding the business.
Ask yourself these questions to determine if your current brand is inhibiting growth.
- Does your brand allow you to pivot and introduce new products?
- Does your business model make sense based on market dynamics?
- Does your company vision match your brand?
- Does your messaging fit your product offering?
- Are You Differentiated Enough from the Competition?
- Has the competitive landscape changed?
- Identify Your New Brand Promise
- Get Employees On Board
- Slapping A New Logo Onto Your Site Is Not A Rebrand
- A Rebrand Is Not A Marketing Initiative
- Do Your Homework
Branding and domain strategies are almost inseparable. These same rebranding principals also apply to your domain name decisions. Often the domain name a startup acquires is based on keeping the investment down which leads to adding more words such as LLC, group, associates, etc. Upgrading your domain to an exact match or shorter version of your brand can be the first step in a strategic pivot.
Snapchat rebrands to Snap
Last week Snapchat rebranded to Snap to encompass its efforts to pivot beyond the mobile app space. This is an excellent example of how shortening your brand and domain creates simplicity and power.
Snap raised $1.8 billion in May and had plans to introduce a new product to increase engagement and revenue. They needed a structured platform to expand and not create confusion with their main product Snapchat.
Moving to Snap.com is a brilliant branding move that provides an effortless interaction thru their brand.
Although they are currently only using the domain Snap.com for their corporate communications, this gives them a parent platform to interact as they expand product offerings.
Here are their three main sites:
- Snap.com (corporate brand)
- SnapChat.com (original product)
- Spectacles.com (new product)
Complete article here