Changing your business’s name may seem daunting, but you have a few options. While it can be painful and costly, it is important to remember that a new company name can signal a new test branding concepts. The new name can be a way to signal a new type of company, or it can signal a change in business philosophy.
For many businesses, getting noticed on the Internet is critical. Companies with generic company names struggle to gain traction online because they’re similar to other businesses in the same sector. By contrast, a unique company name will not only make it easier to be discovered on the web, but it will also be easier for people to remember. However, it cannot be easy to define a unique company name, so try to think of something that’s not too common.
Another good reason to change the name of your company is a merger. When companies merge, they often try to avoid naming conflicts and cultural silos. For example, the recent merger between BB&T and SunTrust led to a $125 million effort to change their names. The new name, SunTrust, evokes optimism and trustworthiness.
Researching your brand’s strengths and weaknesses
Rebranding your business is a great way to expand visibility and adapt to changing market conditions. However, before starting the rebranding process, you must conduct market research. Market research is the process of analyzing and comparing competitors and the strengths and weaknesses of your brand. The research will help you formulate a strategic plan for the brand.
To ensure your brand is a success, you must conduct an in-depth brand analysis. This will reveal your brand’s strengths and weaknesses and your top five differentiators. Then you need to set actionable targets to close gaps in your brand. The goals should be measurable, specific, and time-bound. An on-demand knowledge service such as Wonder can help you develop a comprehensive brand analysis and report within 24 hours.
Ensure that you involve your stakeholders in the rebranding process. By including your stakeholders, you will strengthen your brand culture and gain valuable insights on how to move forward. For example, you can involve employees from different departments to gather their opinion about the new branding elements. You can even conduct competitions and giveaways to encourage engagement and generate feedback.
Creating a mood board-Branding Concepts
Before creating your mood board:
- Think about your brand’s visual language.
- Whether it’s a fun brand or a serious company, ensure the images and colours you choose to convey the same message. You can start by browsing magazines and online photo galleries.
- Once you find the perfect images, cut them out, and start creating a collage.
To make it easy, you can use a free program like Canvas, which has many templates you can choose from.
Creating a mood board is a fun way to communicate with your team and inspire them to think big. A board filled with inspiration and motivation will help them take the next step in their business venture. In the case of a brand, this visual tool can provide a good jumping-off point. For example, a beach mood board can contain a shell, while a train mood board can contain a train ticket.
When creating a mood board, avoid using Photoshop or other editing tools. Instead, use intuition and make a mood board with as many images as possible. Remember to include visuals that embody the brand’s values and tactile elements to help the creative team envision what the finished product should look like.
Getting feedback from customers-Branding Concepts
The first step to a successful brand is getting customer feedback. This will help you determine how well you’re communicating your message. In many cases, rebranding fails because the message is unclear, resulting in a confused audience. A successful brand can include a new logo, website, refreshed messaging, or an entirely new brand. However, it can also mean making many changes to your existing brand.
It’s vital to get feedback from customers about your brand image before you begin planning the brand. This can be done through surveys or focus groups. Even negative feedback will help you ensure that you meet customer needs. In addition, it’s important to keep track of the sentiment around your brand so that you can incorporate the new messaging to make it more appealing.