Posted by tungstenmg Last updated 1st March 2021 reading time
Rebranding comes from growth and evolution
Tungsten MG was established in March 2017 and has been true to its path and core values for the past 4 years. I hope you would have seen over the past few months (maybe past year) that Tungsten MG has begun to evolve from a start-up property business into a much bigger entity.
At the core of Tungsten MG’s business strategy is our 5 HMO’s in Medway, Kent, and I am incredibly proud that I was able to start a property business from scratch whilst having a full time sales job in London, being pregnant for most for 2018 and subsequently being a full time mother. In a very short time Tungsten MG acquired 5 properties in a variety of states, locations and set ups to create 25 rooms which are predominately fully let.
But as the market has changed, Tungsten MG has adapted. We feel as a business that the HMO market in the South East is saturated and have taken the bold move to create a new property business with a new business partner!
Using a signature colour can increase brand recognition by 80 percent (Reboot, 2018)
Bannan and Sulley Developments is born!
For my new business partner and I we have decided to pull together his skills and talents with those from Tungsten MG to create Bannan and Sulley Developments Limited. The creation of this business ensures that Tungsten MG can stay true to its core and concentrate on HMO’s yet Bannan and Sulley Developments allows us to explore the Northern commercial market. We are in the process of securing our first commercial unit that will become residential units in Wigan, which is extremely exciting. The new partnership will see the team take on different roles utilising our unique strengths and with the goal to create quality, high end units in the UK’s northern cities.
We are taking this next step to rebrand the company as a proactive solution to the follow the natural evolution of our audience, the market and the new opportunities that present themselves. The new brand will showcase the identity, the belief, the values and the ethos of what makes Bannan and Sulley Developments different from the other noise on the market.
Consistent presentation of a brand has seen to increase revenue by 33 percent (Lucidpress,2019)
But what is a rebrand?
A rebrand is the changing of a corporate image or personal image. A brand helps create an identity for the product/solution and will show to its audience what it stands for, what it believes in, what it supports, why you can trust the brand and will try to develop a relationship with you – if you get it right it is hugely powerful.
Here are some examples for a business that has gone through a rebrand
Airbnb. In 2014 they added a new icon to their logo which they called the Bélo. It stands for their 4 principles (People, Places, Love, and Airbnb). Airbnb hoped the new brand would be understandable, approachable and attractive to its audience.
Burberry, London in 2006 added England to their name, Burberry England, London to utilise their traditional values and roots in their marketing campaigns, and Burberry also empathise their “Britishness” by using British actors, musicians and models.
Whoever or whatever you are rebranding you do so with a reason in mind, to raise awareness of the new identity and to showcase the new look and feel of the brand.