When to change your brand name? Many of you like to read and some like to watch. SO, below is my 1-minute overview of the 5 Reasons to Change Your Brand Name. If you’d like a little more meat (and an additional reason to change your name,) please read below or surprise the heck outta me and do both!
6 Reasons to Change Your Brand Name:
Divorce Your Name from Negative Publicity – Clearly, this is the case of The Weinstein Company looking at changing its name. It’s a proven strategy as employed by ValuJet and killing 110 people in the Everglades. Blackwater also changed its name to distance itself from the debacle in Iraq.Why Change your #Brand Name? Get rid of the name, get rid of the bad publicity. Click To Tweet
Remain on Trend – Kentucky Fried Chicken recognized that it had the dreaded “f” in its name (fried) so it switched to the KFC acronym. In a world with AT&T and IBM, for example, many millennials and others couldn’t even tell you what the letters mean.
Tweak it Because of Merger Mania & Spinoffs – Just this week, Coach changed its corporate name to Tapestry and of course, Google went to Alphabet. The Tribune spin-off became Tronc (can you Tronc this?) and ING (which many of us branding experts disliked) became Voya. In 1987, Louis Vuitton and Moet Hennessey merged to create this mouthful: LVMH.
Reflect Brand Growth– The moment Boston Chicken served up its first ham, they knew they had a problem and quickly transformed into Boston Market. 20th century insurance finally realizing it made it to this century, changed its name to 21st 20th Century Fox remains as is.Why Change your #Brand Name? Stay trendy, relevant, or improve on your brand. Click To Tweet
Overcome A Bad Name –Many companies don’t put much effort or money into a name. It’s only after it becomes viable that it seems to matter. Take the case of Backrub; it worked for the time being, but when it needed to step up and take a big seat at the grown-up table, Google was installed as a replacement.
Adhere to a Legal Settlement – Similar to above when companies don’t invest much time or effort into a name, a name only becomes important after a lawsuit for trademark infringement. High senior gained national acclaim for his company, MikeRoweSoft, after it was hit with legal claims by the behemoth Microsoft; he settled for an X-box. J The Better the #Brand, the Better the Business! Click To Tweet
What’s your take? Share below.
To your sizzling success!