As the online lending industry matures it is a good time to rebrand with a new website, OnDeck believes. The company said the new branding reflects an acceleration to “ever greater customer service.”
OnDeck Chief Marketing Officer Andrea Gellert led the rebranding. She answered a few questions about OnDeck’s rebrand and the branding process in general.
Can you take me through the thought process of deciding to do a brand refresh?
It’s an old sports saying, but at OnDeck we really believe that you always want to skate to where the puck is going, not where it is now. And this holds true for us when it comes to our brand strategy.
Right now most of the market is focusing exclusively on speed of funding. That’s important, of course, but the OnDeck experience offers so much more than just speed and we wanted to make sure we were conveying all we offer. We wanted to show that it’s no longer just about getting financing quickly – it’s about getting the right financing for your business from a company that provides the most comprehensive set of products and the best customer service.
When is a good time?
Ask any marketer – it’s never a good time to do a rebrand! It’s a serious undertaking and an enormous body of work that requires buy-in across the organization. But the right time to do it is actually before you need to do it. As the leader in the space, it’s on us to continue to innovate and drive our brand strategy forward.
What thoughts does it mean to convey, and how do different departments (creative, marketing, etc) work together to make it happen?
We assembled a highly cross-functional team of leaders across our design, product, technology and marketing teams for this project. We wanted to make sure it wasn’t the marketing team handing the product and design teams a visual identity and saying, “here, build this,” without explaining why. We had technical people involved in the creative discussions, and creative people involved in the technical discussions. Our goal was to create a brand that we could all rally around, and I think we accomplished that by bringing people into the process earlier than many marketers think to do.
What industry developments impacted the decision?
There’s been a wave of new entrants that have been essentially copying what we’re doing. That’s flattering, of course, but as the leader in online small business lending we have continued to evolve and enhance our customer value and experience, and it was time for us to update the market on how we deliver on our promise like no one else does to empower small businesses to help them achieve their goals.