People will tell you all sorts of reasons why a master brand strategy will fail, says Valitor CMO Christine Bailey – but she has proven it is possible
Implementing a master brand strategy following multiple acquisitions is no easy feat – especially not in a crowded and highly competitive market space where no one knows who you are and new fintechs dominate the headlines.
That’s what I had the challenge of doing as CMO of Valitor. Transforming a 36-year-old issuer and acquirer who was the undisputed market leader in Iceland, into an international payment solutions company, operating across 22 European countries. Fast forward and Valitor is now recognised as a leading provider of complete payment solutions for issuing, acquiring, omni-channel, POS – online, offline and everything in between.
Achieving this successful rebrand involved conducting a strategic insights study and various brand perceptions studies to inform our new mission statement and value proposition. On 1 January we launched new websites in Icelandic and English and finally consolidated under one brand.
At Ignite, I’ll explain how we devised and implemented a master brand strategy, how we drove brand awareness through digital, social, conference speaking, media coverage, sponsorships, thought leadership and CSR activities, which ultimately resulted in more sales leads. I’ll also touch upon how you can tell your brand story and “punch above your weight” when no one knows you and how to overcome common challenges you might face when rebranding.
Never underestimate how emotionally attached people are to an existing brand and the stories they will tell about why a master brand strategy won’t work. The best way to overcome this is to conduct primary research/brand perception studies to fight emotion with facts.