How to rename - be yourself by changing your name

We carry out renaming

 

A negative reputation is just one of many reasons why a business might need a new name. And this is almost the only case when it is necessary that the past of the company has sunk into oblivion. If the name changes, for example, due to geographical expansion, changes in business direction, administrative and legal regulations, it is important to keep the connection with the old name. Otherwise, huge investments in marketing will be required to reach the previous level of sales.

You need to know how to communicate the new company name to the old audience. Applying them is easy.

Tell me about renaming

This may sound trivial, but many companies prefer to change their name quietly. This is a destructive approach. In this case, customers suddenly begin to receive letters from a company unknown to them, to see their promotional materials. Managers and consultants have to spend a lot of time to regain the trust of the target audience.

If possible, it's best to shoot a commercial or make a press release that talks about upcoming or past changes in the company's name. Information can be disseminated through the information resources of the company, with the help of partners and contractors.

Choose a related name

Radically changing the name doesn't always make sense. Sometimes it is enough to simplify the current naming a little, get rid of unnecessary words. This technique is often used by companies named after their founders. For example, recently the advertising agency Ogilvy & Mathers has become simply Ogilvy, as this surname is one of the most famous in the field of marketing and advertising.

For names that consist of invented or existing words, you need to choose the most recognizable part. For example, find out how your colleagues, partners, clients call your business in abbreviated form? You can also take the root of any of the words and build a new naming strategy based on it.

Incremental renaming

If the company does not run away from its past name, it may well exist along with the old one. For a while they can be used together. For example, if a company used to be called Alpha, but it was decided to change the name to Omega, you can use both of these words in any combination on signs and promotional materials.

This solution is especially effective in situations where renaming is carried out when one well-known brand is purchased by another. In this case, the name of the new owner is initially indicated as a secondary one, but gradually replaces the main one.

What else do you need to know about renaming?

After deciding on renaming, don't rush right off the bat. This is a complex and responsible process, the quality of the result of which determines the total amount of losses at the first stage. Declining sales and profits is normal practice. This happens to 96% of companies that change their name. However, if professionals were involved in renaming, the results will decrease slightly and normalize within a few months, and then, with proper marketing support, they will only increase.