Change can be abrupt and discontinuous. Transformational events such as a brand merger or a spin-off force executives to think about the creation of a new company in terms of a rebrand – what it’s going to be called, its identity, its competitive positioning, its reason for being. As daunting as it may be for the companies concerned, these are rare opportunities to rebrand creating new, fully-formed corporations with new brand realities.
There are other, less dramatic, forms of change. There is evolutionary change. It happens incrementally over time until the question of corporate brand positioning becomes an insistent issue that demands to be addressed.
All successful companies evolve. They grow and acquire, expand into new markets, new market segments, new product areas and new categories. They shift business focus according to changing customer needs, regulation, deregulations, competitive pressures, or opportunities created by new technologies. They eventually reach a tipping point where the future of the business looks significantly different than the past but perceptions haven’t shifted. They are still rooted in what the company used to be and what it used do.
Competitiveness is blunted, value is masked, and employees become confused.
Consider our case study for EQT Corporation (NYSE: EQT) of Pittsburgh. EQT is one of the largest natural gas producers in the Appalachian Basin and one of the pioneers of horizontal drilling technology that lead to the current natural gas energy revolution is the US.
Under the positioning line “Where energy meets innovation” the company was rebranded and renamed EQT Corporation, incorporating the company’s ticker symbol initials. A new brand identity and architecture put daylight between the growth E&P businesses and the legacy gas business and positioned EQT has a major player in the unconventional natural gas industry, thereby transforming investor perceptions of the company and aligning employees around a clear view of the company’s future.
Keys To Rebranding - BB’s 4 E’s
In repositioning an established business such as EQT, BrandingBusiness works closely with the executive leadership to first determine their strategic growth objectives. In a four-phase brand positioning process (Envision, Explore, Evaluate, Execute) we then deploy industry-leading brand research methodologies and tools to construct data-based positioning scenarios to deliver the strategy, each emphasizing a different set of validated attributes. We bring brand strategy alive with bold, courageous and creative ideas that can propel a brand from simply being in the race to winning it.
Need help rebranding your business? Contact us now or call us at (949) 273-6330.