SocialCode has announced the rebrand of the company to Code3. The news announced Thursday reflects its focus on performance-driven marketing for brands through media, creative and commerce.
Drew Kraemer, CEO of Code3, a subsidiary of Graham Holdings, saw the bigger picture for clients, and the new name reflects this perspective.
“We looked deep into the company’s history and brand identity evolution, conducted an analysis of the competitive space, and held creative work sessions with stakeholders at the company to find the right name,” he said. “We wanted to build on the equity we have created with 'Code' and take it to the next level."
Under its previous name, the company launched more than a decade ago when Facebook was the only social media platform, Kraemer said. The industry has since evolved, and reaching consumers across a multitude of platforms is more challenging than ever.
Since its launch, the company has expanded to support dozens of new platforms including Google and Amazon. It also added a performance creative group. “One thing is clear to us -- we are much more than social,” Kraemer said.
Code3 is not the only company to have rebranded in the past six months.
Earlier this week, the world’s largest venue for online video and digital creators announced its first rebrand since it premiered more than ten years ago. The name remains VidCon, but the content will reflect the ability to bring in people from all over the world and pull in all social platforms and creators, online and in person.
The search engine Bing has also had a rebrand. While the majority of those who know the search engine are likely to still call it Bing, Microsoft quietly rebranded it to Microsoft Bing in early October. The name ties in a legacy dating back to 1975.
The rebrand likely reflects Microsoft’s move to integrate Bing’s technology into more of Microsoft’s products. For example Bing powers InPrivate search with Microsoft Edge, quick searches in the Windows task bar, work search scenarios with Microsoft 365, immersive gaming in Microsoft Flight Simulator, and search in Xbox.
Along with the rebrand, Microsoft announced the expansion of Give with Bing, which helps people donate to causes without opening their wallet. Give with Bing is an extension of Microsoft Rewards, where people earn points by searching on Microsoft Bing, and Give with Bing lets people donate those points to causes they care about.
“Microsoft has been attaching its name to everything, said Robert Passikoff, founder and president at Brand Keys. “It occurred to them that running the strategy of 55 individual brands was expensive and didn’t work from a synergistic perspective.”
Rebranding, he said, also is signal that consumer values have shifted and the company is attempting to do something that meets the consumer values.
“Rebranding is a dangerous thing to do in the best of circumstances and particularly these days,” Passikoff said. “What you’re seeing is what Brand Keys calls the ‘We’re-All-In-It-Together’ syndrome. Certain brands feel it’s necessary to express in one way or the other they feel your pain.”
If brands are meeting consumer expectations there’s virtually no reason for them to change direction, he said. The need for Clorox or Purell have increased during the pandemic, but not their positioning.
“It’s a mostly emotional decision to buy something when you’re a consumer, but you need to be very careful about rebranding,” Passikoff said, pointing to a list of brands that have rebranded.