2013
10.09

It’s All in the Name.

Business names are important to us, it is our identity and a name that hopefully customers trust and the general public at large are familiar with.  Generally consistency is the key to success with business names.  It can take a long time to achieve good brand recognition and changing that name can cause minor and extremely short-term problems with customers and suppliers alike.

However, the corporate world is full of examples of company name changes that have entirely changed the scope and brand recognition of a company allowing them to achieve success that was previously thought to be impossible for them.

 

Successful and Unsuccessful Name Changes

Have you ever bought anything from the Tokyo Tsushin Kogyo Corporation?  No? Me neither and there is a good reason for this.  In 1958 realizing that their name was holding them back, especially in U.S. and European markets they changed their name to Sony.  If you want to sell something to a consumer then it always helps if your business name is simple and easy to pronounce.

Changing a company name from something established and popular simply for the sake of a fresh image can be a very bad move.  United Airlines learned this the hard way when for for a small period of time change the carrier dropped its name traditional and respected name for Allegis which might sound more like a Greek island than an airliner.

In the U.K. the Royal Mail under bad advice from a marketing agency threw away centuries of tradition and reliability by becoming Consignia.  Consumers, postal workers and the country at large immediately shot the name down in the flames and so it should be little surprise that Royal Mail quickly returned.

These simply examples are important as they perfectly demonstrate when you should change your name and when you shouldn’t.  If your company is flying high and a well-known name with your customers then changing your business name perhaps should not be your first option.

 

Names and Identity

However if your company has an identity issue perhaps due to original business names not being easily recognized from the crowd of competitors. Then perhaps as your business now offers a broader range of products or services then changing business names might be the best business decision since Sony came into the world.

Holding a naming competition at NameMyBlank is quick and simple and will give you lots of great business name ideas.  Our writers have the imagination that can make the difference and as you choose the winning name for your organization then you’ll be sure that the changes you make will help your business achieve the success which you deserve.

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