Rebranding an Innovative Tech Start-up that Revolutionized its Industry
Auction.com, the nation’s largest online real estate marketplace and considered the “eBay of real estate since 2007,” decided to change its name to Ten-X in January of 2016.
The Hoyt Organization had worked tirelessly for five years to reach a cherished goal: Ensure that Auction.com achieved at least one clip per day for every day of the year. When the decision was made to rebrand, the client’s primary concern and objective was that Ten-X quickly and effectively permeate the marketplace.
Ensure that Ten-X, like Auction.com, averaged at least one story per day in targeted publications for every day of the year.
The primary objective over the course of a year was to manage the brand by ensuring a seamless transition from Auction.com to Ten-X. THO set an internal goal of ensuring that the average clip/day count was maintained and, in most months, accelerated from one brand to the next.
Since every target publication had covered Auction.com over the company’s nearly ten-year history, THO cross-checked an extensive list of every reporter and editor who had written about the company. This list included more than 1,000 contacts.
Upon finalization of the materials which would unveil the new Ten-X brand, embargoed outreach to a top-tier list of approximately 200 reporters and editors began. Once these stories were negotiated, THO initiated outreach to the full list of more than 1,000 writers to ensure both coverage of the re-brand and awareness of the name change to ensure continuity of daily coverage.
THO also served as diligent traffic cops to identify and correct any outdated or incorrect uses of the new brand.
From July 2015-June 2016, despite a significant name change and 100% rebrand, the program maintained the company’s media dominance. As a result, the Ten-X name hit the marketplace without losing even the slightest bit of traction. Over the course of the subsequent one-year period, the campaign placed 621 reporter-authored stories, an average of 1.7 articles per day.
Careful planning and building relationships are the two biggest drivers of success in any media campaign. In this case, the client and reporter alike knew there would be a continuity of service and expertise that transcended any brand. It’s because THO is known for, and provided, trusted customer service to both the client and targeted media outlets.