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.