How to conduct rebranding and enrich the brand with new meanings
Deputy CEO of Pokerbet Igor Terebinov
- How do you think rebranding helps businesses and why do big companies do it?
Rebranding is a powerful tool that can give a new breath and direction to a business. Large companies rebrand in order to achieve several significant benefits.
First, rebranding allows companies to adapt to an ever-changing market and consumer demands. Updating the look and image of the brand helps keep it relevant, attract new customers and retain existing ones.
The second benefit is audience expansion. A change in image or positioning can help attract new market segments.
Sometimes rebranding can be associated with a change in a company’s strategy. It can help express new brand values, principles and goals, making the brand more modern and relevant.
However, it is important to note that rebranding requires careful research and analysis of the target audience to avoid losing loyal customers. Successful rebranding means balance between preserving brand authenticity and introducing innovations that can provide new impulse for business development and maintain its competitiveness in the market.
- PokerMatch has become Pokerbet. Why did such a big stable company with such a recognizable logo need a rebranding?
The decision to rebrand PokerMatch was driven by strategic and market factors. While stable and recognizable, it was important for the brand to remain relevant and adapt to the changing demands of the industry.
We set ourselves the ambitious goal of changing customer perceptions of the company and repositioning the brand. The desire for a complete rethink of values, approach and technological innovation was our driving force. We sought to transform PokerMatch into a more adaptive business, responsive to new trends and audience preferences.
The refreshed Pokerbet aims to provide a wide range of iGaming services beyond just the poker vertical. The rebranding has successfully reflected the new directions and diversified the updated product portfolio.
- How has the brand philosophy changed?
First of all, when considering a change in brand philosophy, it is important to understand that we are talking about a change in its direction and expansion, not a complete revision. The company’s philosophy has always included a sports component, and this remains unchanged. Thus, in the rebranding process, this component has simply expanded. Previously, the brand slogan was “Poker is your sport.” Now we are promoting the idea that everyone can choose the product vertical they like, as the brand portfolio has become more diverse with sports betting. As a result, the slogan has undergone some changes and now it’s “Choose your sport”. The expansion of the product range has changed the brand philosophy, allowing it to interact with a wider audience of users and become more visible and recognizable.
- Why the crown?
The choice of the crown as a symbol was quick and reasonable. However, it is worth emphasizing that we took into account its popular use in the context of gambling. The symbolism we sought to convey through the visualization of the crown refers more not to the gaming element, but reflects the trinity of verticals that are united in the renewed brand portfolio: betting, poker and casino. Our main goal was to make this symbol a recognizable and independent element. The crown is our brief logo and is also used as an independent unit in elemental identity on merch, display advertising and many other configurations. Just as importantly, this graphic element has gained popularity among our users due to the symbolic eye that draws attention and seems to look out from under the crown. In the future, we plan to integrate this element as an icon in our advertising campaigns.
- How long did it take to prepare and implement the rebranding?
It is important to note that the rebranding process was not constrained by a clear timeframe and exact launch date. At the initial stage of the project, there were no defined boundaries and it evolved as key decisions were made about the need to give the brand a new look. In terms of timeframe, we can say that after the concept and strategic vision were approved, it took about six months to prepare and implement the rebranding.
- How did your audience respond to the changes?
The rebranding was well accepted by the brand’s audience. We received a significant amount of positive feedback and reactions. The name change and image update aroused interest and attention, which is confirmed by the activity of our followers in social networks, discussions on forums and feedback through various communication channels.
We, in turn, gave users an opportunity to get reacquainted with the brand by organizing tournaments with good prizes and other pleasant surprises.
The overall audience reaction to the rebranding was an inspiring and motivating factor for our entire team.
- What was the most challenging part of the rebranding process for you personally?
One of the biggest challenges was striking a balance between keeping the old brand recognizable and making the necessary changes to update and adapt.
Before deciding which brand elements to keep and which to change, my team and I had a lot of discussions and analysis. We wanted to make the rebranding visible and inspiring to attract the attention of new customers, but also take into account the expectations of the old audience. The changes had to be a balance between innovation and tradition.
It was also a challenge to maintain unity in the team during the change process. Rebranding involves many aspects, and it was important that each team member shared a common vision and goals. This required each department manager to communicate, harmonize and incorporate the opinions of each employee.
- What are the current challenges the brand is facing? What will you identify as success?
A rather big challenge, even during the operation of the past brand, was a high-quality entry into new markets, which would allow the company to take a key position in the industry among competitors in a particular market. However, at this point in time, we cannot claim that we have been able to achieve this goal. Although we are present in several markets, we cannot claim to be the leading brand in any of them. Thus, a sign of success would be to achieve leadership status not only in the home market but also in foreign markets.
Therefore, the first significant achievement after the rebranding will be a strong presence and activity in external markets, where we aim to take a leading position in terms of recognition, engagement and business activity of our brand. In the medium term, we are also focusing on two specific markets for which we already have expansion plans and strategies in place.
Source: Eastern European Gaming