When you think the time has come to subject your brand to a rebranding process, who knows it’s not worth considering the possibility of reformulating the most important point: the name. If this is your case, don’t miss any of these tips.
The whole rebranding process for a brand requires a comprehensive working methodology: creating the perfect name for a company is essential for its success or failure as well as taking into accounts the business objectives when defining it.
This is because every brand needs a right name. This is how it works. The word (or words) you choose can have a huge impact on people and, in turn, on your ability to create business. Thus, if you choose an attractive name, you will have a brand that leaves its mark and is much more effective.
Renaming may or may not have an isotype associated with it. Although it is not mandatory, the truth is that many brands, over time (and with many investments), allow their isotype to fly on its own. In some cases, the isotype could even replace the name, but to go that far there is a need for constant , consistent, relevant and conspicuous branding investments .
To create a brand, we need a brand strategy> naming > logo> style and application guide. In this post, we are talking about the brand name, but it is essential to keep your business objectives in mind . Whether you are working with a new brand or a consolidated one, you will certainly count on a business plan. This document contains short, medium and long term business objectives such as sales volume, expansion, coverage, etc. and it is also the basis for starting to create a branded platform or strategy for choosing a name.Therefore, when it is time to carry out a rebranding process, it is essential to consider all of this to create a brand capable of growing and evolving hand in hand with your business. Otherwise, it will remain “small” or it won’t help you achieve your goals.
Here are all the steps to follow:
Rebranding in 5 steps:
- Direct and related category benchmark
Benchmarking can help you better understand the direct and indirect competitors of the brand you are about to (re) create. This process will also allow you to identify recurring structures and idiomatic expressions among competitors.
- Semantic map
Before anything else, prepare a word map that answers all these questions and always keep it handy.
- What are we going to do?
- What does our product mean for our Persona Buyers?
- What rational, vital and emotional implications are behind each purchase?
- Why do they choose us?
- What are the values of our company? What imprint or message do we want to leave in people?
- Building structure
Each name has an origin, even those invented. That said, there are several types:
It describes what a company is or what it does. It can also be an acronym formed by the surnames of the founders or by the main service it offers. Place the brand in the industry, making it easier to recognize. Examples are Emirates Airlines and Vodafone (Voice Data Fone).
This second type concerns the experience that the user has when buying the product. They communicate something intangible. An example would be the Nest brand, a company that creates home control devices.
It refers to the positioning of the brand from a metaphorical point of view. They move away from the products or services offered by a company to offer a broader perspective.
Almost all the brands we are familiar with have evocative names that evoke myths, legends or the collective imagination. For example Asus and Nike.
This typology, on the other hand, refers to when you invent a word from scratch or mix or associate two or more words.
This typology is widely used by brands born after 2000 as an excamotage for the purchase of .com domains, now sold out for the most used and interesting words in the dictionary. The robots preceded us. An example would be Wii.
- Brainstorming of words
Now the time has come to recover the previous steps and try to apply them to our word brainstorming. Without any limit !! Write, speak, think, write again and so on. Once you have collected a lot of ideas (at least more than 50), you can start skimming them. How? The words that answer the following questions will score points and qualify for the finals!
This Brand is …
- Easy to pronounce?
- Easy to memorize?
- Appropriate for the value proposition?
- Without any negative connotations or without generating confusion?
- Can it be patented? (Crucial point nowadays)
We will have to pay particular attention to the last two points. Many products and companies, at this stage, do not take into account their international expansion, and this may give several headaches in the near future.
After passing the test with these questions, there should be between 15 and 20 possibilities. Keep repeating this assessment by adding a scale of 1 to 5 for each question until you only have five names left.
Now you have to think about the registration of the Brand and you have to proceed with a check. How? Search on WIPO if American and European patents are available. It is also essential to classify it within the categories of corresponding products and services.
As you already know, you must take into account that it will only be registered if there is no other brand previously registered with the same name . You must also take the time factor into consideration. In Italy, it will take about six months, starting from the registration date, to have the patent confirmed. Furthermore, during this period, other brands may also request and present similar naming, triggering possible conflicts of interest.
- The litmus test in a rebranding process
Try to find a group of people, two or three, who are similar to your Buyer Persona and do the “litmus test”. Present the different options you have on the table and take advantage of them to share doubts and fears but always in a professional and reserved way. This test will help you understand if you are going in the right direction. In the event that you cannot find anyone who fits your Buyer Persona, contact friends and acquaintances you trust and who, above all, do not know anything about your brand. Only in this way can you get different points of view.
From their feedback, select the three most relevant options. Try to associate your proposal with an image, but without creating a logo. The name should be evaluated without the influence of font, form or isotype, they come on the scene later. Make sure that all impressions, feedback and comments are shared only after the presentation is complete.
So here is a simplified scheme of what a rebranding process can be . We hope it was useful, not only for a new rebranding but also to reflect on a brand that is about to be born.