As entrepreneurs (tech monoliths and small businesses alike), our company brand should encompass who we are as creators, as well as what we hope to achieve through our intended contributions to the communities and environments we influence.
Longevity is the goal, and to achieve it, companies must consider the direction they wish to take their enterprise as part of their marketing strategy. For social media companies like Facebook, this means the reestablishment of their very identities.
A new beginning for the Facebook empire
Despite years of social and political criticism, Facebook has dominated social media and tech spheres worldwide. Amidst intense social and political pressure to reform its business strategy for the sake of its users and because of its containment of false or misleading information, CEO Mark Zuckerberg has announced Facebook rebranding plans. Such changes have the potential to impact the world of technology in intense and dramatic ways.
As part of a major rebranding that has the potential to change the entire scope of the parent company, Zuckerberg announced the inception of Meta, a name the media magnate hopes will encompass his new creative vision for the future of mobile internet, AR and VR, and the virtual world at large.
“Here we are in 2021 and all our devices are still built around apps, not people,” said Zuckerberg on Thursday, October 28th. “The experiences we’re allowed to build and use are more tightly controlled than ever. And high taxes on new creative ideas are stifling. This was not the way that we were meant to use technology.” Instead, Zuckerberg imagines a future where virtual and augmented reality meet to revolutionize how humans connect.
At the foundation of this new future is the development of what Zuckerberg refers to as the “metaverse,” a digital world in which people can connect through the power of VR headsets and, of course, the Facebook family of apps.
What the Facebook rebrand means for the future of the company – and the world of marketing at large
The Facebook rebrand comes at an incredibly unprecedented time in our history. In light of the information contained in leaked internal documents maintained by Facebook, the extent to which the parent company and its family of apps, including Instagram and WhatsApp, have failed to control the spread of hate speech and misinformation related to the COVID-19 pandemic of 2020 has been revealed.
While the CEO emphasizes the name change as a means of establishing the new identity of the brand as a “metaverse company” he hopes to craft through Facebook Reality Labs, intense and careful consideration must be given to the integral roles of internal and external marketing in the success of total brand restructuring.
The importance of internal and external marketing to rebrand success
There’s much to learn from the Facebook rebrand; above all, one of the most important takeaways is that a complete and comprehensive marketing strategy is essential to ensuring the success of an enterprise in both the short and long term.
There are several reasons a company may choose to undergo a total rebrand. No matter the reason, the outcome of the rebrand will be determined by the effectiveness of the marketing efforts behind it. With a thorough understanding of your company’s intended direction, your target audiences, and how best to communicate the rebrand to all outside entities in the digital world, a successful rebranding is possible for even the most established brand.
How to successfully rebrand your business
Regardless of whether you want to pivot your business model or simply no longer like the look and feel of your brand, there are several ways to ensure a successful rebrand for your business.
The first step in this process is to reevaluate your mission and values as a company. Ask yourself, are they different now from when you first started your professional journey? If so, consider how the elements of tone, voice, and imagery will change for your marketing materials to better reflect this new trajectory.
Next, it’s essential to reconsider your target audience(s) and how your rebranding will affect members of various demographics. Has your target market changed? If so, how will you reach these individuals? As you plan your rebranding strategy, think about how your target audience will perceive the new elements of your company. By doing so, you’ll be able to create marketing materials that better align with your ideal client’s needs and desires.
From there, you can begin rebuilding your brand identity – or create a new one! Depending on the extent of your rebrand, this process may involve redesigning core brand elements, including your logo, brand colours, and your company’s name. As you plan amendments to your brand identity, consider how current and potential customers will perceive this new representation of your company. Strive to make this transition as smooth as possible!