Renaming and rebranding to increase value and drive growth
About the client
DriveCam was the market leader in commercial fleet management. Their extensive product and service offerings helped companies analyze driver data including, but not limited to, video data, to increase efficiency, improve driver safety, reduce accidents and save lives.
While their service offerings went well beyond video, their name suggested that this was their focus. Senior management needed a brand that better reflected what they did, and gave them room to grow in the future. But they had spent five years establishing market leadership and a reputation for excellence. A wholesale change could confuse loyal customers and frustrate business partners and shake the confidence of investors if not handled carefully.
A new name, a new brand, and a transition plan to help stakeholders adjust to and adopt the new identity. In the end the benefits to changing the name far outweighed the risks. But because they were a young company and because their name was so specific and tactical, a name change really was going to have long-term value.
We repositioned them from a focus on technology, to a focus on the value they offered their customers. The new identity spoke more directly to their value proposition and gave employees a common understanding and conviction about their purpose.
Lytx has been able to to focus on its three key differentiators — video, predictive analytics and a cloud-based platform. Their new marketing efforts have helped them increase awareness with C-suite prospects in some of the world’s largest transportation companies. Since the November 2013 launch, Lytx has been featured in Forbes, USA Today, NY Times, LA Times and the Harvard Business Review.