Introduction
Brand identity has always been an integral part of any business’s success. In the cut-throat world of business, brands often have to overhaul their image to stay relevant making rebranding a strategic tool rather than just a cosmetic change.
When talking about rebranding Jaguar’s recent rebranding comes to mind as a prime example of how even well known and legendary brands need to rebrand themselves to stay relevant in the rapidly changing markets.
In this blog we will take a look into Jaguar’s recent rebranding from a luxury automotive company to a name to reckon in the electric vehicle market.
Why Rebrand?
A brand is the identity of a business and so rebranding is not just about changing a brand’s logo, it means overhauling the brand’s entire identity. It is a strategic move to change the very essence of a business and how customers relate to a brand.
Businesses can pursue rebranding for a number of reasons some of which are:
1. Market Repositioning
One of the most common reasons of rebranding is a change in a businesses’ market positioning. Brands often rebrand themselves when entering a new product segment as is the case with Jaguar’s recent rebranding on entering the electric vehicle market.
2. Shift in Target Audience
Another reason for rebranding is a shift in the target audience. For instance, many established brands have rebranded themselves to appeal to a younger tech-savvy audience with short attention spans and a wide array of choices at the click of a button.
3. Cultural Changes
Businesses that have been a part of the market for many years have often been pushed to consider rebranding themselves due to a change in the cultural values and tastes of consumers. For instance, the current demographic of young consumers has become more focused on sustainability than the generations before them making it necessary for legendary brands to rebrand themselves as sustainable brands to ensure they stay relevant in the changing times.
4. Crisis Management
Sometimes brands need an image overhaul when faces with controversies and negative press. Rebranding helps businesses in crisis distance themselves from all negative publicity and create a brand-new identity away from the controversies of the past.
Jaguar’s rebranding is a culmination of three of the abovementioned four reasons for rebranding. With a change in the target audience, their tastes and Jaguar’s move into a new business segment with electric vehicles rebranding was a move in the right direction.
Jaguar’s New Identity
With the recent rebranding Jaguar’s identity has undergone a significant change right form its logo to its brand messaging. Let us take a look at the changes:
Brand Logo
Everyone can associate the symbol of the “Leaper” with the luxury automotive brand Jaguar. This iconic logo has been part of Jaguar’s legacy since 1945. However, post the rebranding the iconic Jaguar logo has been replaced by a minimalistic “Jaguar” wordmark. This change has been made in keeping with the minimalistic and futuristic market trend that prioritizes elegance and simplicity over flashy in-your-face brand logos.
Color Palette
Rebranding the Jaguar brand has seen a change in the color pallet of Jaguar from vibrant metallic hues to the subtle yet sophisticated black, silver, and grey. The changed color pallet is reflective of the brand’s placement as a brand associated with class and premium quality.
Brand Messaging
Jaguar’s clever rebranding with the slogan “Modern Luxury,” has helped portray the brand’s commitment to continue providing its customers with luxury while entering the electric vehicles market of the future.
Jaguar’s rebranding emphasizes its drive to stay relevant in a future driven by innovation, sustainability, and electric performance.
Lessons From Jaguar’s Rebranding
There are several lessons to take from Jaguar’s rebranding strategy, some of which include:
1. Embrace the Future
One of the key lessons that brands can take from Jaguar’s rebranding is staying up-to-date with the changing trends. Realizing that the automotive sector was moving away from internal combustion engine (ICE) vehicles towards electric vehicles (EV), Jaguar took the strategic decision to rebrand itself to “Modern Luxury”. Jaguar let go of its legacy to adapt its product to the needs of the future and rebrand itself accordingly.
Lesson: Learn to stay with the times, if the industry you work in is changing try to keep up with the change and modify your product to meet the needs and tastes of the users. Let go of your legacy if it hinders your ability to evolve for a better future.
2. Simplicity is the Key to the Future
Times are changing and so are the tastes and preferences of the users. With the advent of technology, the use of digital media platforms for business and advertising, and the increasing focus on sustainability, less is more!
Simplistic and minimalistic designs work best on digital platforms and Jaguar’s understanding of this led to its decision to move away from the iconic “Leaper” logo to the simple, modernistic and minimal wordmark design that we see post its rebranding.
Lesson: With the growing popularity of simplicity in designs, minimalism is now the new luxury. With business moving online it is best to create logos that have clear and simple designs with higher visual impact.
3. All-round Rebranding
Rebranding is about changing the perception of a brand in the minds of consumers. This is an intricate process that involves more than just a change in the visual logo of the brand. When rebranding itself, Jaguar not only changed its logo to reflect a more futuristic luxury brand but also ensured that the change was accompanied by the brand’s move into the electric vehicle segment. The rebranding focused on changing the company’s entire product strategy making the rebranding meaningful.
Lesson: If you are thinking of rebranding, you must have a holistic approach to the process. Ensure that your rebranding is not just a change in the company’s logo but also a change in the underlying business identity. In short, your business must reflect the message that the rebranding is seeking to promote.
The Risks of Rebranding
While rebranding may be a great way to prepare your business for the future, rebranding is not a risk-free undertaking. Some of the potential risks of rebranding include:
1. Brand Recognition Loss
Rebranding comes with the inherent risk of alienating long-time customers. Customers tend to have an emotional connection with brands and rebranding your business may risk you losing out on a loyal customer base who is unable to connect with the new brand image.
2. Customer Backlash
All rebranding efforts may not go down well with the target customers. Hasty rebranding done to stay ahead of the competition may lead to customer backlash and end up in failure just like the 2009 Tropicana rebranding debacle where Tropicana spent $35 million with the now defunct Arnell Advertising in 2009 for its rebranding and ended up losing $20 million in sales in just one month.
3. Costly
Rebranding is a huge undertaking and may involve large financial investment. A change in the visual brand involves changing the packaging, marketing material, website and all product related items across platforms. This involves huge expenditure.
How to Rebrand Your Business
If rebranding is what your brand needs, then here is some inspiration that you can take from Jaguar’s rebranding when rebranding your business:
1. Create a Strategy
Just like Jaguar based its rebranding on its shift to electric vehicles, ensure you have a strategy in place when rebranding your business. Before you begin ask yourself, “Why are we rebranding?” If the answer to the question is just to change the look of your brand without the accompanying changes in your product you need to rethink your decision.
2. Engage Customers
Customers are the key to the success of a brand, never forget to keep the customers in mind while rebranding your business. Engage your customers in the rebranding process by creating anticipation. Be sure to back up your rebranding with a clear purpose like Jaguar did with its “Modern Luxury” reasoning behind its brand image rehaul.
3. Balance Modernization and Legacy
When choosing to rebrand your business always ensure you maintain a balance between modernization and legacy. Even though Jaguar has completely turned away from its iconic “Leaper” logo, it may not always be a good idea to abandon your legacy altogether.
Make sure you analyze the impact of abandoning your legacy before making any dramatic changes to your brand identity. Sometimes subtle changes in rebranding are all it takes as is clear from the subtle, yet effective Coca-Cola rebrands that have taken place over the years. So, step back and take a hard look at what kind of rebranding your business actually needs.
4. Tell a Story
Always remember, a new logo is just the beginning. When rebranding be sure to have a clear vision. Just like Jaguar’s rebranding shows its conversion from ICE vehicles to EV, make sure your rebranding is backed by a compelling story about the future your brand is building.
Was Jaguar’s Rebrand a Success?
In my opinion, Jaguar’s rebrand though met with a mix of enthusiasm and skepticism. While the Company welcomes the change netizens have questioned the reasoning behind the change. Seeing the current market trends, a step into the electric vehicles segment was an obvious one and the related rebranding of Jaguar seems to be a step in the right direction. While the rebranding of Jaguar with its sleek and modern design, clear brand messaging, and alignment with changing consumer preference for sustainable consumption is being hailed by the company,
“Jaguar has its roots in originality. The new Jaguar brand is imaginative, bold, and artistic—completely unique and fearless.”- Chief Creative Officer Gerry McGovern
it is yet to be seen whether this change will help cement the brand’s position as the next best thing in the modern luxury electric vehicles segment.
Conclusion
When used correctly, rebranding can prove to be a powerful tool to position your business in the competitive market. Keep in mind a shift in a brand’s visual image is not just an aesthetic change it reflects a change in its product, market or messaging.
When seeking to rebrand make sure that a visual change in your brand is accompanied by a change in your businesses’ key underlying factors. Whether you are a startup or an established brand always ask yourself whether your current brand identity align with your businesses’ future plans? If not, take a page from Jaguar’s book and consider rebranding your business.
If you too are considering rebranding your business reach out to us to know how to strategically modify your brand image to stay ahead in the competitive business landscape.
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