Time Warner Cable. Ugh. You may cringe just reading the words. They are the cable company that everyone loves to hate. But you won’t be hearing that name again because TWC is no more as of this year. The company, along with Bright House Networks, was bought by Charter Communications and they changed the name to Spectrum. We agree with their marketing team for changing the name. We can only imagine the pressure they were put under to change the public’s perception. And this was the answer. It was time to change their position within the market, increase loyalty, and refresh the brand.
Companies don’t just change brands when they merge, either. Did you know that Google was once called BackRub? Could you imagine if this name change never happened? More recently, Starbucks Coffee dropped the Coffee, and is now just Starbucks.
How do you decide when it is time for a brand refresh?
- Your identity has evolved. It is not uncommon to have different goals, beliefs, and cultures from the time you began. Your company will grow and change just as people do. It is important for your brand to reflect this change so your customers know who you are.
- Your brand is visually outdated. If you are still using the same logo and taglines from the 90s or 2000s, it may be time for a change. That logo may have been revolutionary then, but you have to acknowledge growing trends if you want your business to stay relevant.
- Your products and services have changed. You want your brand to reflect what you offer today, not yesterday. That is one likely reason the Spectrum name does not mention the word “cable.” Not only do they offer cable services, but they also offer telephone, Internet, and business service as well. Why section their services into one category when they offer more?
- You are poorly positioned in the market. By making revisions to your positioning, you can uphold your brand’s integrity, ensure its place in the market, and rebuild customer relationships. Analyze where you stand in the marketplace. If you don’t stay competitive, then someone else will.
- You are not reaching your target audience. If your marketing message is constantly failing to reach its intended audience, don’t keep repeating the same mistakes. Your target audience may have shifted, or you have decided that your product or service is better suited for someone else. Either way, a brand refresh can help you reach the right people to make your company grow.
We do want to note that a brand refresh is something that needs to be considered on all levels before implementing. All decisions should be discussed and noted in your brand strategy. Don’t just change things for the sake of change. And don’t do a complete brand overhaul unless absolutely necessary.
Are you thinking that a brand refresh is what your company needs? Contact us today and we will help you refresh your brand and recapture your place in the market.