Observed Signal · Aug 22, 2023 · Corporate Rebranding · Source: CMSWire · Impact: 2/5 · Sentiment: Neutral
Learning from SurveyMonkey's Rebranding Strategy U-Turn
SurveyMonkey, a leading online survey platform, rebranded to Momentive in 2021 to target the enterprise market, but reverted to the SurveyMonkey brand in June 2023. The article analyzes the failed rebranding strategy, highlighting that the strong brand equity of SurveyMonkey among SMBs made the shift to enterprise difficult. It discusses the reasons for rebranding, the challenges, and the lessons for other brand category leaders. The company now offers SurveyMonkey Enterprise, balancing seriousness with approachability.
SurveyMonkey's rebranding U-turn offers insights into brand strategy for MarTech vendors, but is not a major industry event.
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Key Takeaways & Evidence Grounding
- SurveyMonkey rebranded to Momentive in 2021 to target enterprise customers.
- In June 2023, the company reverted to the SurveyMonkey brand.
- The rebrand was driven by the perception that the 'fun' brand personality hindered enterprise sales.
- SurveyMonkey surveyed 21,000 people in seven countries to assess brand personality.
- The company now offers SurveyMonkey Enterprise.
Connected Companies & Entities
2 Entities mapped“SurveyMonkey achieved the lofty status of brand category leader, but learned some hard lessons in its rebranding strategy....”
“a 2021 rebrand to Momentive — the name of its parent company—turned out to be somewhat fleeting....”
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