The process also involves changing the scenario, new competitive perspectives, product portfolio and alignment with ESG
Redo to highlight. But brands should not propose rebranding without taking into account their culture and built values. New market dynamics can hasten positioning revisions, such as issues related to the ESG agenda, for example, and expansion of the business scope.
It is important to know how to differentiate rebranding from branding. Ewaldo Mokarzel, CEO of the agency FutureBrand, finds confusion between these issues. “Rebranding is a radical change in positioning, a transformation from A to B in the segment, market and target audience, resulting in a new alignment of expectations in relation to deliveries and the desired reputation. Branding is a continuous process, which involves adjustments and course corrections to respond to market changes, consumer behavior, new technologies and innovations, which are increasingly frequent in the current context. Staying relevant is the biggest challenge for businesses and brands nowadays, which means always evolving”, ponders Mokarzel, who goes on.
“Rebranding (radical change) becomes necessary when the branding process (continuous evolution) has not been coordinated effectively. It is essential to balance purpose and experience in business management to build strong brands prepared for the future. Branding is not just a long-term action, but a tool to solve business issues today, align and build a culture of performance, and create brands capable of generating economic, social and cultural impact”, emphasizes Mokarzel.
Avenue, for example, recently rebranded with the plan “to strengthen the position of Brazilian investors on the global financial scene”, as CMO Ricardo Longo explains.
“Bringing brand strengthening with a focus on the American financial market, connecting them with the Brazilian language, is a unique opportunity. Our goal is to continue evolving this trajectory, placing Brazilians at the forefront of these changes. Therefore, we understand the importance of transmitting this evolution through the communication of our messages and visual elements”, points out Longo in the company’s statement, which also lists the concept of the Avenue PRO verbal identity. OP, it’s a provocateur; the R, for relational, and the O, for guiding. “Our objective is to position Avenue as an essential bridge for those seeking to invest safely and diversify in the global financial scenario, especially in the USA, one of the largest markets in the world”, highlights Roberto Lee, CEO of Avenue.
Some signs are essential to move towards rebranding: marketing performance metrics are great and brand equity metrics are not; CAC (customer acquisition cost) is increasing; areas of the company do not talk to each other and are stuck in the past; business has no budget for branding; and something that may seem surreal, but happens: your children’s friends don’t know your brand. “Look at the complexity of the case that a client brought to us. This client’s product lost 10% in sales, no competitor grew at this rate and the most intriguing thing is that the market remained stable, that is, it did not decrease or increase. Do you know what we discovered? A trend with millions of views on TikTok teaching how to make the product at home with your personal touch. Those who gained 10% of the market in this case were the consumers”, says Mokarzel.
He cites examples of cases that FutureBrand coordinated: Localiza, BTG Pactual, Hering and Track&Field – all major Brazilian brands that are performing above the market average. “For them, we develop continuous, strategic and in-depth processes in understanding the public, potential market and innovation. These cases reflect our vision of balancing purpose and experience in building brands for the future. Observing the metrics of these companies, the correlation between desire, experience and financial value becomes evident.”
Read the full article in the issue of propmark October 7, 2024
