A Lesson In Rebranding From The New Myspace
By Angela Sanders Saturday, October 19, 2013, 08:21 AM EDT
In order to discuss rebranding, we must first address the initial process of branding. In the realm of corporate marketing, branding refers to the way in which companies use their name and/or logo to increase visibility and recognition among consumers, particularly on social media.
Some companies keep their branding efforts simple, while others invoke their creativity by thinking outside the box, like Instant Checkmate, whose Halloween-themed Myspace photo shows their logo carved into a jack-o’-lantern. Either way, there are no clear-cut methods that companies have to follow when it comes to branding, and as long as the end-goal is achieved, then their efforts are considered to be a success.
By now, most of you have probably gathered that rebranding refers to the process of reinventing a company’s identity, image, and reputation. The key word here, of course, is reinventing, since the company at hand is already established, they’re attempting to go through the branding process all over again.
One of the most successful rebranding campaigns to make it into the mainstream media is that of the new Myspace. Yup, there’s a new Myspace, and aside from its fundamental roots in social networking, the site is nearly unrecognizable from its former self—in a good way.
The New Myspace — Rebranding At Its Best
Up until recently, most people—including us—hadn’t so much as thought of Myspace in years. Turns out that big things were happening under the radar after A-list celeb Justin Timberlake purchased 50% of the company back in 2011 as part of a joint venture with Specific Media Group.
Timberlake set his sights on bringing Myspace back, but he wanted it to be completely different in every aspect. By rebranding the site as a “Social Entertainment Network,” he was able to change the company’s identity in order to attract a younger demographic, including people who shared an interest in the newest trends relating to music, culture, art, and lifestyle. By openly backing and promoting the site, Timberlake became an authoritative voice, and people were immediately excited about the new Myspace.
When the new site was unveiled, it was clear that Timberlake and camp had delivered on their promise to bring Myspace back. The new Myspace has been completely revamped and transformed into a site that is hip, fun, and visually appealing. That is a lot more than can be said about the old site, which was outdated and became increasingly sketchy as it neared its decline.
The fact that I’m sitting here writing about how great the new Myspace is, in itself, a testament to the fact that rebranding is real—and it works. It’s an extremely viable strategy for companies that want to reinvent themselves, regardless of the reason.
If rebranding is in your company’s future, whether it’s due to the launch of a new product, or a new website, or you just need a brand makeover, then you can definitely look to what JT has done with the new Myspace as an example of how to do it right.
About the author:
Jenny Wellington is a blogger from San Francisco, CA. She specializes in writing about social media and corporate branding.