gerund or present participle: re-branding
1. change the corporate image of (a company or organization).
Re-branding is a marketing strategy in which a new name, term, symbol, design, or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors, and competitors.
In some case re-branding involves radical changes to a brand’s logo, name, image, marketing strategy, and advertising themes. The changes are devised to re-position the brand/company.
It also typically occurs when a company seeks to distance itself from negative connotations of the previous branding, or to move the brand upmarket. Re-branding seems to be the first thing a company does when it emerges from a bankruptcy or other presumptive business setback. Here is what all of this means in total: Management has recognized that business has change in methodology and product demand. Management has created a new business posture or even dismantled its old model. In order to stay relevant, one must adapt. Adaption communicates a new message a new board of directors’ wishes to communicate.
In our particular case, it has been hard. I must confess, it has been a little daunting. Our company, Carson Dunn Media Advertising, Inc. started this process deliberately, like an iceberg frozen in some vortex of a moon on the cold side of Jupiter. It was slow on purpose because we wanted to get everything right. I had two business partners – one left and to tell you the truth, left a tremendous vacuum. Partnerships work best when the partners have specific assignments in relation to the company. In her case, she had primarily responsibility for developing an execution strategy and helping develop a logo and website. Well, while I’m happy that she moved on because I will always be fully supportive, it didn’t obviate her duties. Somebody had to absorb them and it turned out to be me.
In the meantime, our other partner became immersed in a long term assignment pursuing what could be a gargantuan account as we handled little projects for them. It pays a few bills, so refusing them was a no-brainer.
A peculiar thing happens when one is reevaluating a business model –organizational weaknesses and flaws come to the surface. Our biggest flaw is not saying “no,” to life sucking accounts. I also discovered what it truly is to be drained during this process. A big client whom we launched, marketed, branded had boneheaded lawyer send us a nasty letter explaining why that now rich client decided to put the account in review. The last sentence dripped with sarcasm, “Oh, about your last bill…you practiced law as a mediator didn’t you…take us court…our assets are off shore…heehaw-haha…”
If you’re in the agency game you’ve met another type of client. It’s the guy that was formerly marketing or sales head at some Fortune 500 company. He got fired for being an asshole. The same guy turns up as the COO for a new client and figures out ways to get work out of your agency. He also dreams up ways to screw us out our retainer and fees. Staffers view him as the devil and cave in dealing with him, quitting in frustration. They didn’t realize why he did sowed trouble. It’s simple: He’s still an asshole. Or, maybe he is the devil.
We resigned nonproductive accounts, and let attrition run its course. Re-branding and dismantling an old business model teaches that you need a stomach to run an agency. You have to rebuild from the process. Agencies are not for the faint hearted, but it is a hell of a lot of fun.
I delayed the launch until later this September because even though Carson Dunn Media Advertising, Inc. seemed structured it wasn’t – and that can be fatal. It was a good outfit, but we operated without what all companies need – policy manuals for every department. So, as we are about to launch into being a digital agency, we are going to be structured like a traditional agency. Dichotomous, to be sure.
We aren’t in the entertainment business; although what we do can entertain. Our advertising work will be designed to sell products. I truly believe what David Ogilvy preached and Bill Crandall, Chief Marketing Officer, Consultant at Della Femina Rothschild Jeary + Partners reminded me when he graciously agreed to network on Linkedin. We are a brand – thus we are advertising’s finest. We must approach our work qualitatively. Yes, CDM Digital will drum our motto into the heads of staff: “We have purpose, to create, to succeed and be the best.”
Re-branding and having to revamp my company is both exciting and precarious. “In the world of business, what good is it to be an original creative thinker, unless you can sell what you create?”
Catch you later,
Bernard Alexander McNealy, CEO
CDM Digital Advertising & Integrated Marketing