The Story:
More than 8 out of 10 bank and credit union leaders report that their rebrand positively impacted their organization’s culture – reaffirming core values inside their institution and deepening brand pride among employees. This company culture measure was the second highest area of benefit, just behind “overall brand value” in Adrenaline’s survey measuring the return on investment from rebranding. Rebranding can bring some surprising opportunities for culture change. According to Forbes, “A rebrand strengthens employer branding, tying all the important elements of an effective employer brand together, from recruiting to onboarding and company culture, enhancing the overall customer experience promise.”
The Takeaway:
According to Adrenaline’s ROI of Rebranding report, organizations should employ strategies that continue to build on the cultural currency coming from rebrands. Maintaining that momentum is key to delivering on the promise of the brand’s renewed relevance. “We are seeing more and more how necessary culture is for recruitment, for retention, for engagement, and ultimately for performance,” says Gina Bleedorn, Adrenaline’s President & CEO on the Believe in Banking Podcast. “And rebranding, especially with its intrinsic tie-in internally, has an incredible advantage in increasing all of those things affecting the organizational culture.”
Source: Adrenaline, “Measuring the ROI on Rebranding Initiatives Survey,” May, 2024, Forbes, “15 Ways Rebranding Can Bring Unexpected Opportunity For Your Company,” August, 2024, and Believe in Banking, “Exploring the ROI of Rebranding,” May, 2024