rebranding has long-term effects when it reflects internal changes

Earlier this week I read a piece in Marketing Week discussing Halifax's decision to rebrand and alter its advertising approach.

In response to the success of banking upstarts like Monzo and Atom, Halifax has simplified the X in its logo (so it fits in a digital world), introduced a new strapline (Halifax makes it happen) and changed strategy with their creative approach so that it aims to position Halifax as a 'can-do brand'.

Here's one of the ads it hopes ties those three elements together.

Up until a few years ago, your banking choices were the same as everybody else irrespective of whether you were an early adopter of new technologies or not. Now the likes of Monzo and Atom are having success by offering a product that is fundamentally different from the banking establishment, that choice becomes a real one. And their communication highlights that. As far as I can tell, Halifax seems to be changing lots of things communication-wise but nothing fundamentally product-wise.

Rebrands are effective in the long run when a company doing the changing, changes elements of their core offering to coincide with the visual tweaks - signalling changes on the outside are representative of changes on the inside.

If nothing changes internally, you're just trying to hoodwink the public.