fbpx

LETS GET DOWN TO BUSINESS.

Question :
Good Morning,I currently have an online business (earlychildhood resources), and thinking of re branding with new resources and a new name. Any tips in what makes a good name? e.g. is one word (in the name better)Thanks

Question submitted 16/08/20 @ 09:57am
Industry: Brand & Marketing
188
VIEW
0
VOTE
  • Hi there – key question is what’s wrong with your current name? Changing your name is a big call, as it means you go back to ground zero in terms of customer awareness… and you spend a lot of money changing everything you have that presents you to the market. By all means, refresh your brand look and feel, but unless there’s something seriously wrong with your current name, changing it may not be the best idea.
    Cheers Debra

    Hi Kelz,
    Thanks for asking. Can I suggest to firstly make sure that rebranding is the right thing for you? It can take up a lot of resources and money as well as risk losing some customers along the way. On the otherhand, it can attract and refresh.
    Have a read of this article- Thinking of rebranding? Here’s how to get it right
    Then read ‘7 Steps to Rebranding’
    These should help you.

    With regards to a good name, there are a number of naming routes. However generally, the shorter you can make it the better. Make sure it is easy to pronounce and spell. Check what it looks like in a url and most importantly, make sure the name is available to register as well as the domain in www.
    Route 1: You can have a direct name that is descriptive eg. Like ours – Marketing Minds- tells you exactly what it is
    Route 2: Have one that is made up and you can build a persona around eg. Uber or Facebook
    Route 3: Mainly for service industry- people’s name- tend to show experience and exclusivity.
    Route 4: Indirect association eg Manaaki or Google. This builds some immediate association yet you can make it your own.
    There are many pros and cons around each route and it will be an essay just to explain it.
    However, hopefully, this gives you a place to check your thinking and a starting point.
    Thanks
    Anne

    Thanks Debra and Anne,

    So my company’s name is Crate Wonder, and initially selling open ended play/heuristic play (e.g wooden rings, wooden balls, mirror balls) in a wooden crate. Now I’m looking at widening the range to general play resources, and future plans of hopefully running play workshops, PDs for teachers in the future.

    My thinking was just that the name limited future customers/interest for where I would like to be??

    Thank you so much for your time.

    Kind Regards
    Kelly

    I haven’t read Anne Caseys links , and it may be stated there , but something that should also be mentioned is having your old and new names ‘linked’ . Generally this means having one domain name re-directed to the other ( this ups your ‘searches’ total too ) , but you can basically have one domain name reduced to a single page , with details of your new name and site , or a ‘push here’ button . Another way is to have one main website , and on the ‘home’ and ‘contact us’ bits along the top , have your old name as an option , and link back to your old website .

    Depending on how complex your existing site is , and what contracts you have signed with hosts and designers , it should only cost you a few hundred a year at the most to keep your ‘old’ sites — a few extra jobs a year should pay for that . Maybe review after 3 or 4 years .

    I assume you will be keeping your old phone numbers and e-mail addresses too ?

    It gives you the best of both worlds — a new name and a rebrand , but existing happy customers can still easily find you .

    Hi @kelz , Just base on the name itself, Crate Wonder, personally, I do think it can stretch to include various types of discovery materials. The word crate can be interpreted as a vessel and not literally wooden crates.
    HOWEVER, it also depends on how much cross over your existing customers are with your potential customers for the new items and if the brand holds any existing meaning for the new group already.
    If it is the same customers you are wanting to extend the product range to, then you really need to know what is their impression of your brand right now, do they literally see you as just wooden crate items? Suggest you work from customer insights back to your decision to rebrand or not.

    Great thank you all

    I’m probably weird ( or drunk haha ) , but to me Crate Wonder sounds like a beer of the month club . If you are selling learning materials , and you really wanted crate in your name , wouldn’t something like Crate Expectations be better ? I thought about Crater Education , but that sounds like its info about mountains and craters haha . Just throwing ideas out there .

    Kelly

    Changing a name is certainly a tricky topic. There is no right or wrong answer.

    The brand has to resonate for you, and for your vision of the business. Like Debra said, it can be very expensive and can also negatively impact your business. There have been some spectacular failures on rebrands but also some amazing changes too.

    Depends on how much money you have, how much brand recognition you have, the trade off of how many customers you may lose in the change vs how many you may gain.

    From personal experience, I had a company where we thought of changing the name. We decided not too as it already had a lot of brand equity, but the topic kept coming up for years and it always got harder and harder to change as brand equity built and the costs to change grew. Part of me wishes we jumped off the cliff in the early days and did the re-brand back when the company was small.

    Sometimes, the emotion of how you feel about your brand for your company also needs to be taken in to account along with the rational and economic reasons!

    Food for thought, best wishes on quite a tough decision and inflection point. Happy to chat further.
    Leslie

  • You must be logged in to reply to this topic.