fbpx
Topics:

As consumers, we see brand names change all of the time. Datsun became Nissan, MSN became Windows Live and even Pepsi was eloquently named ‘Brad’s Drink’  up until 1898. Locally we’ve seen NBTel become Aliant and the Atlantic Lottery Corporation officially shortened to ALC. Changing a brand name can be beneficial for a company, but only if it has a compelling reason. Changes can have lasting effects on a brand and to build brand equity is to consistently deliver your brand promise by emotionally connecting with your audience. In many cases, changing the name of a business can mean to start from scratch or investing lots of coin to try and build that brand trust again.

So when should a business consider changing its name or the name of its product? Here are a few times when it could make sense:

1. When there’s a merger

Fusebox Creative is a perfect example. When Point Click Media and Catapult Marketing Group decided on a merger to combine their traditional and inbound marketing services, it made more sense legally to dissolve both corporations and create a new one than it would be for one to absorb the other. This enabled us to do several things. First, it allowed us to avoid large legal fees. It also enabled us to create a brand that was more inclusive to our culture and service offerings. Finally, it gave us a new opportunity to create buzz amongst our clients and in the local industry.

2. When it resonates negatively in the market

Sometimes what you may think will resonate well with people will do the complete opposite. Here’s an example. If you are familiar with Pert Plus shampoo, you’ll recognize it as a successful North American brand that even has some world reach. In french however, ‘Pert Plus’ means ‘Lose More’. Not necessarily the brand promise you want to deliver in a hair care product.

Maybe I should find out what kind of dog shampoo Donald Trump is using these days.

3. Copyright issues

New businesses are often in a rush to get to market only to find that their great name has been served with a cease and desist letter notifying them of copyright infringement. Research is key. It’s happened to me personally when developing a unique line of clothing for a friend, specifically targeted to MMA enthusiasts. The name of the line was the key feature in all of the designs. Many hours were spent developing this brand only to find out before launching that it was trademarked, killing the entire idea. In this particular case, it wasn’t a matter of simply changing the name. It brought everything to a screeching halt and a new start from scratch.

Either way you look at it, deciding to change your business name should not be a decision to take lightly. It can have a lasting effect on your brand and on your wallet. Deciding to change your business or product name requires time, research and should be part of a long term strategy.

Personas-cover

The complete guide to identifying your dream customers

A free, customizable buyer persona worksheet





Get It Now



Fusebox Creative | 160 Millennium Blvd – Suite B, Moncton, New Brunswick Canada | Phone: 506-855-3591