A rebranding is a wonderful way to embrace a new image. It is often constructed to embrace a new strategy. It sometimes coincides with a business trade of hands under new leadership. Rebranding suggests newness, and it can be a useful tool in reinvigorating the brand and stepping into a new passage in the marketplace.
Unfortunately, rebranding is often a tool used to recover from a mistake. This is not fundamentally wrong. Rebranding can dissociate with a past mistake while also embracing it and owning up to it. Below is a look at mistake recovery through changing your business image.
The Facebook Debacle
A company can make a pretty hefty mistake and one that can cost them a lot of goodwill. Take the evolution of Facebook in 2018 after the data leak. According to reports, 50 million user’s data was leaked for the purposes of marketing to potential voters in an effort to get Trump elected. The company who utilized the data was hired to help get Trump elected.
Political ramifications aside, this was a disastrous breach of confidence for many users. Facebook stock plummeted. Mark Zuckerberg was called to appear for Congress. The goodwill that Facebook built in many circles was damaged, potentially beyond repair.
Of course, nothing is ever beyond repair until it is over. Facebook’s market dominance gives them a lot of options and places to move. A potential rebranding might be effective in their situation. It can usher in a new wave of no tolerance for fake news, data leaking, etc.
The rebranding could come with new features, which are highlighted in the rebranding effort. It could come with a new color palette, a new open dialogue feature from Facebook owners, and more.
It is fun to speculate how Facebook could rebrand after this mess or if it is even necessary. More importantly, any company could deploy this strategy. It both takes responsibility for a mistake while moving on bigger and better. Customers could respond well to that kind of freshness in the company. Changing the brand image in this way means accepting what happened but letting all customers know that this is a time to progress and grow.