“The last thing we do, is changing the Brand name”
At Remarkable, we have successfully implemented and overseen several name changes, including the transformation of Dexia to Belfius, Spector Photo Group to Smartphoto, and Mobistar to Orange. While these name changes were necessary in the cases mentioned, changing a brand name is something that should only be considered after a thorough evaluation.
If you are considering a new name for your product or company, it is crucial to carefully analyze the reasons for this major decision. After all, rebranding is a costly and time-consuming process, not without risks. We list some common reasons for considering a name change:
Avoid rebranding without a good reason
One phenomenon we often encounter is the “painting effect”: the tendency of a new leadership or an overly ambitious marketing team to want to change the brand without a real need.
Losing market share? Think carefully
Declining market share can be a sign that something needs to change, but a name change is not always the right solution. The same goes for the launch of a new communications campaign or the emergence of new media channels such as social media. These changes may require adjustments in brand strategy, but do not necessarily warrant a complete rebranding. In many cases, an evolving brand update, such as a refresh of corporate identity and templates, is the better choice. This allows you to visually modernize your brand while maintaining the built-up brand identity.
A recent example is Renault's introduction of the new Renault Scenic E-Tech. In their promotional campaign, they proudly emphasize, “We changed everything except the name.” This sends a powerful message that although the product has been completely revamped, the core values and brand identity that the name represents remain. This confirms that brand name and brand recognition are often strong enough not to be touched, even in times of innovation.
Brand change: A means, not an end
It is important to realize that a brand change is only a means and not an end in itself. The change should be an external signal of real improvement within your company. By itself, it will not solve existing problems.
Mergers and acquisitions: Keep what works
Mergers or acquisitions often involve a name change for the acquired brand. However, it is not always necessary to eliminate one of the brands. In some cases, it may be useful to retain local brands temporarily or to give them a new role, such as as a product brand. There are different strategies within the framework of M&A, as illustrated in the case and blog on Daikin.
Following trends? Not always wise!
It can be tempting to consider rebranding because your competition is doing the same thing. But just because others are doing it doesn't mean it's the right move for your brand as well.
By taking these arguments into account, you can make an informed decision about the need for a brand or name change. At Remarkable, we are always ready to advise and guide you through these crucial decisions.
