Designing a successful brand
Rebranding our business for growth - Traction Finance (video)
Traction Finance, previously known as Lease Options, started in 2003 as a small scale Belfast-based business providing contract car hire and leasing.
After nearly a decade of trading, they entered a new market and found themselves facing rivalry from a competitor operating under a similar name. The old brand became a stumbling block. Consumers were confused; the name no longer provided the business with a unique identity or reflected the full scope of their service offering and aspirations. It was time to freshen things up and rebrand.
Paul McGuire, founder and Director of Traction Finance, outlines their reasons for giving the business an entirely new identity. He talks about choosing their new name and logo, getting customers on board with the change and overcoming the logistical challenges of reinventing their brand while still running the business.
Finally, he shares how rebranding, along with a fresh approach to marketing, gave the business a renewed energy and helped them open new doors and opportunities.
Paul's top tips:
- "Have a clear vision of what you are doing, why you are changing and where you want to go to."
- "Involve and engage your staff in the process. That gives them a bit of ownership and helps build the brand from the inside out."
- "Be clear in your timescales and dates. Plan for when you're going to do it."