What is Rebranding? Why is Rebranding Important for Facebook?
Why does rebranding hold such a deeper value? Especially for corporations that are global with their original name?
Making a newer name is difficult when you first start your business. However, as you start to grow and expand, you acquire or merge with different companies, under different brands, or maybe create a different brand on its own. It is a BIG change! But why does rebranding have a deeper meaning behind it?
The Point: Rebranding is necessary
Many Brands are aware of the “Peak and fall” of their product - A product lifecycle is a common term. But we miss the part where a brand is left out or forgotten.
Fresh Start: What is Rebranding?
According to 99designs, Rebranding is an idea that a company is changing and they want
People to know about it.
Rebranding is simply when a company wants to change, redo, or improve any of its branding elements for example logo, changing its color, typography, etc. is rebranding in itself.
A company may wish to change as little, or as much as they want to. From a simple change of slogan to changing everything including your company name such as Facebook naming its parent company META.
Three categories would help you understand the magnitude of change for brands.
- Brand Refresh: only changing minor details. Such as logo shift, modernizing it, minimalistic, or just changing the color hues could be it.
- Partial Rebrand: Changing only a few elements of the brand to make it new. Using a few elements of the previous brand and adding newer elements also does the same effect.
- Full Rebrand: Becoming a different company is what this means. You become a brand that is converted with no previous element.
The META: Facebook Rebranding
Facebook has changed its name to META. META is named only for its parent company. This means Facebook will stay the way it is and META would serve a different purpose
The META happens to be and exists due to the backlash Facebook faced in the recent ‘Facebook server down’ incident. Where they went completely offline for 6 hours, resulting in a massive loss in share and anger threads on Twitter.
The META exists as a different embodiment of their new venture where they would encompass Virtual Reality into the system. Announcing this plan as Metaverse. Facebook, WhatsApp, and Instagram would work as they are doing. But they may or may not be influenced by these new virtual reality integrations.
The masses would see META as a different platform and be told about how they would see it as a future of different and ingenuine product lines. Speaking to a virtual conference; Mark Zuckerberg explains:
"Over time, I hope that we are seen as a metaverse company and I want to anchor our work and our identity on what we're building towards,"
"We're now looking at and reporting on our business as two different segments, one for our family of apps, and one for our work on future platforms.
"And as part of this, it is time for us to adopt a new company brand to encompass everything that we do, to reflect who we are and what we hope to build."
We will have to wait and see how this rebranding translates. How effective it is, or maybe people would forget about it just like ALPHABET for GOOGLE rebrand.