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2008 Initiatives for Neteller: Brand

A tri-fold approach to 2008 is Neteller’s announced business plan to bring the online casinos payment processor back into the industry as a trusted and respected choice for e-wallet services. The ongoing problems with the U.S. Department of Justice (DoJ) in 2007 caused Neteller to loose a large part of its customer base, and lowered public opinion about the e-wallet. But as Neteller begins to recover from exiting the U.S. online casinos industry and the fines levied by the DoJ, the company is looking at three main approaches to rebuilding a customer base.

The first of the tactics to bring Neteller back into internet commerce and the online casinos industry focuses on revitalizing the Neteller brand and image. Neteller enjoyed prominence in the U.S. online internet gambling industry and e-commerce because it was well-established and one of only a few choices. But as Neteller was out of the payment processing industry, and is entering new markets, the online casinos e-wallet has announced a bold new brand.

The Neteller brand has been redesigned to specifically appeal to its target market – with considerations for demographic and internet commerce activities. The company’s target market is beyond the online casinos industry and includes all internet buying and selling activities. The company has updated the brand and offered new services to really hit the core of the online generation – a group of consumers who use the internet as a main form of commerce.

Brand transformation is a key way that companies that have experienced setbacks with consumers can both lure back previous customers, and entice more customers in a set market to try out the brand, even if they are skeptical or unfamiliar with the brand.