Naming and renaming are quite two different things, even if they have the same result: creating a new brand name.
The renaming process requires changing the name of an existing brand.
In case of a renaming, the situation is different because you have to find a new name for an existing brand, a new name which SUCCESSFULLY replaces the previous name. We have highlighted the word “successfully” because renaming is a risky process and a wrong decision can ruin the entire brand and business forever. If the new name doesn’t do a better job than the previous one, than the renaming process is useless.
Of course, renaming is a part of an entire rebranding process, but the name is one of the most important assets of a brand, that’s why it has a distinct process to follow within the rebranding process.
Not always rebranding involves changing the name of a brand. In many rebranding cases, the whole personality of the brand is changed, starting from core values, brand promise, positioning, visual identity, but the name of the brand is kept. This is happening for a lot of reasons, and one of the most important is the fact that a brand name which is used for a very long time and it was not affected by different factors like PR crisis, trademark issues or other strategic business changes, has great value on the market and changing it can be very risky for that business.
We were involved in many renaming processes and the main criteria which we are taking into account in this kind of processes are the following:
- Naming is “building”, renaming is “rebuilding” and this means that we are always taking into consideration the heritage left by the old name and brand.
- We treat the renaming process as the “last shot”. We are acting with cautious and we are not taking irrational risks which may prejudice the brand.
- We are not creating only the renaming process, we are delivering you the entire renaming transition strategy, which is always needed in this case.