At fast-paced SaaS startup, branding is crucial for establishing an identity within a crowded marketplace. It helps to build a relationship with your customers, and it’s a great way of showing who you are and the product/service you’re offering.
So, what if you’ve built a successful brand… and you realize you need to change everything about it?
That’s exactly what we did in 2016 when we rebranded our company from Receiptful to Conversio—with only 1 designer on a team of 14.
Why rebrand?
Some history: Back in 2014, Receiptful was born. Our goal was to help ecommerce store owners replace their default receipts with receipts that looked better, as well as add incentives like discount coupons and refer-a-friend links to help increase customer lifetime value.
As the company grew, we started to add lots of new features, such as abandoned cart emails, newsletters, and even search and recommendations widgets.
But we had a problem. We offered a whole range of marketing tools for ecommerce stores, but our company name still kept us firmly in the receipt business. Our brand no longer reflected our values.
Our name defined the tools we provided.
We had to change, so in 2016 we rebranded as Conversio. Here’s how we did it.
Step 1: Determining our core values
Whether you can see it, all brands have a strong list of core values behind them.
Related: How to discover your team’s core values
These core values are designed to help define a company both internally and externally:
How your team lives and breathes everything about your product
How customers view and interact with you
Back in 2015, while our entire team met up for a retreat, we decided it was time to create our own values:
- Honesty — we’re always honest with our customers and ourselves
- Passion — we love what what we do and show that in our product
- Independence — we’re decision- and location-independent; we run our business in our own way
- Curiosity — we’re always trying out new things and ways of helping our customers
- Rebellion — we’re never afraid to take big leaps