Rebranding … Not for the Faint of Heart!
I'm always fascinated when companies reintroduce themselves to the world with a new brand. CVS Pharmacy rebranding as CVS Health and expanding into new health services — including walk-in clinics — makes great sense to me. CVS Health's announcement, last February, to remove all tobacco products from its shelves was no coincidence. The action got lots of press that tied in perfectly with the company's new message of helping people on the road to better health.
More questionable is ING U.S. rebranding as VOYA. I'm sure you've seen the commercial of the orange caterpillar being transformed into hundreds of butterflies as they flutter together to form the new logo.
In an interview with Forbes, ING U.S.'s CMO Ann Glover said, "The Voya name reminds us that a secure financial future is about more than just reaching a destination. Preparing for it should be like taking a voyage and having positive experiences along the way." I dunno. Seems like a stretch to me.
Rebranding is more than just slapping on a new logo. See Olive Garden's attempt to update their look. There has to be a bigger mission behind the rebrand. It has to signal that this is a new day ... a new direction ... a new way of communicating with your marketplace.
So, why is rebranding on my mind?
You guessed it! We have been in rebranding mode as well. Founded over 50 years ago, our parent company was North American Publishing Company. We were all about print publications. A legacy business with a capital "L."
While many publishing companies didn't make it through the Great Recession, we went about recreating ourselves. Today, we still proudly publish magazines. But, in addition, we produce over 40 events a year, offer e-learning opportunities through webinars and virtual conferences, have extensive digital advertising and other online opportunities as well as a full-fledged Emmy-award winning video team. Custom content and custom publishing? You betcha.