Facebook boss Mark Zuckerberg has been warned that pushing ahead with the social media giant’s global rebranding will not change current customer perceptions of the brand.
Branding expert Rebecca Biestman, who worked on large company branding, including The Gap, and Morgan Stanley, told CX Today Facebook’s rebranding plans – announced last week – will not repair damage to the company’s reputation reduced through the Cambridge Analytica and Russian influence scandals.
She said: “A rebrand is an opportunity to expand your market and reach new audiences. As Facebook looks to create a Metaverse alongside its social network platforms, it definitely has an opportunity to do just that.
“However, as a word of caution, Facebook can’t repair its current brand perception by changing its name. While we don’t know how long this rebrand has been in the works, Facebook’s rebrand seems to be a reaction to a steady decline in its brand’s reputation.”
The CMO of Reputation added: “Truly innovative companies don’t wait for an impending event to update their brand, rather they typically use rebranding as a strategy to maintain a competitive advantage. The best rebrands also go beyond a logo or name change but incorporate an overhaul of how a company’s business processes and operations. We will have to wait and see whether Facebook goes beyond what we see on face value.”
Facebook would change the name of its holding company under the plans. But not that of the social media platform itself.
The company also owns Instagram, WhatsApp and virtual reality brand Oculus.
The Verge reported that the new name for the holding company could be linked to Horizon, a word used in at least two virtual reality products that the company is developing.
Zuckerberg launched his company as TheFacebook 17 years ago.