9 Naming 2: Renaming your brand

9

NAMING 2: RENAMING YOUR BRAND

Human beings love changing things, particularly when we fi rst encounter them. When we move into a new house we look around and say to ourselves, “We could move this. We could paint that. We could knock this wall down.” Once we’ve been in place for a while, we stop noticing things that need changing because we’ve accustomed ourselves to them.

The same thing happens with brands. When we start a new project, or we’re brought in to revitalise an old one, we really want to make things better, to throw out all the old stuff and start again. The question to ask is, “Will the benefi ts outweigh the costs?” Those costs include losing the brand loyalty that you have built over the years.

The idea In the 1990s, the UK higher education system went through a series of change in which many higher education colleges became polytechnics, and polytechnics were upgraded to university status. Ealing College was a polytechnic for such a short space of time, the name change only merited a canvas banner hung at the front of the building before it changed again to Thames Valley University, TVU for short.

Later, TVU realised that they were the only university with a London postcode that did not mention London in their name. Many students at TVU are from from overseas,so they only realised they’d

be living in London once they arrived to start their studies. Having London in the brand name, taking advantage of being part of one of the world’s most vibrant cities, is an attraction. Thames Valley University were potentially missing out on recruiting students who wanted to live in London.

In May 2011, TVU became UWL, the University of West London. Not only is this a more accurate statement of their location, it has become a more attractive brand by hitching its cart to London’s own identity.

It’s not always a great idea to change your name, even if you think that the current one is old-fashioned. If your brand has become tarnished, associated with bad practice or poor quality, then it’s defi nitely time to consider a change. Or, like TVU, if your brand name does not accurately represent what you stand for, you have a case for renaming.

But if you have a widely known brand with strong customer loyalty—like the magazine Good Housekeeping, which is not something you’d name a magazine these days—resist the temptation to change and leave it be. Never change just for the sake of change. Bearing in mind that once you rename your brand you will lose much of the identity you have invested in, weigh up the risks and costs of change against staying the same.

In practice • Find out what your customers think of your brand name, and what it stands for. • If you discover that your brand has more negative associations than positive, fi rst explore the words you could use to change people’s perceptions.

•Put together a team to explore all options, check that the trademark is free, do the costings, and test your ideas fi rst. • If you’re still sure you need to change, go ahead.