Friday, September 16, 2011

Does Rebranding of a brand really necessary?

I had a discussion with my fellow Digital Malaya collective; Abby, (my sister) and Faiz Akhbar after finish setting up our Behance Malaysia 1st group exhibition for Kuala Lumpur Design Week 2011. We're quite fascinated with the recent Maybank new corporate rebranding. People are so excited with the new change. I actually admire the new look especially the typeface use. It looks so 'comel'.

But what they fail to see above this rebranding are the long-term damages that would effect the entire institution. Imagine, they would appoint an agency and spend about half-a-million account to restructure and rebrand. Yes, hoorey to the agency but will that be all? what would happen next after the rebrand?

Maybank, founded in 1960 with revenue of RM12.87 billion in 2010, now, have to spend more money to update their branch's signage, and we're not talking just in Malaysia but the entire South East Asia, New York, London, Uzbekistan, Bahrain, Hong Kong and other parts of the world. They also need to replace their existing collaterals and merchandise (imagine bag packs, plush toy, coin box, umbrella, uniforms, t-shirts, etcetera have to reproduce with the new logo), change their stationary (letterhead, etc) and later to re-produce Maybank staff's access pass (tag) to more than 40,000 Maybank staff. To add, they need to spend more money to update the system with the new logo from the intranet system to online websites, mobile apps (iPhone/iPod/iPad) that also includes almost 3,000 (less or more) automated teller machines around the country. Not to mention, their subsidiaries and associates have to also update themselves from business cards, to brochures, magazines, websites and others. Now to get things done they would have to outsource or open tender and hire more agencies to execute those changes and to strategize in many years to come, which will lead to more waste of money down the drain. Can all of this be done in a year? Absolutely not.

The loss is not only time but above all, the capitol that can be more greater to be utilize to support and contribute to the industry. I felt that they should release more grants to local entrepreneur so that they can progress and re-invest, push more awareness in outreach programs, educate the kids about savings and smart spending, and to support the community as a whole to double the progress of our country's economy. And at the crucial time where we face global economic turmoil, is this what we want to inspire and encourage others to adapt the the concept of 'spent wisely'?

I will let you decide what's best ;)

Perhaps Maybank staff would now get lower bonus by year-end? God knows.... because usually with a better reward (gratitude) to their staff, it will motivate them to work better with more efficiency....