Would a rose smell as sweet?

“A rose by any other name would smell as sweet” ~ William Shakespeare

The decision to change the name of established and successful organisations is not one to be taken lightly.

However, the ‘great name debate’ is one many companies and associations in all types of industries across the globe face. It is often one of those issues that lie just under the surface at management level and boil up to the surface at irregular and often inconvenient moments – only to be quashed under the weight of undertaking such an overwhelming task.

Having been involved in a number of ‘great name debates’ (including my own) over the years, the linguistic sparring matches usually entail a few types of arguments; the ‘don’t fix what’s not broken’ corner, the ‘let’s be bold and do it’ corner, the ‘we’ll keep it until we can think up a better idea’ group, and the avoidance mob ‘let’s talk about it later’.

What’s in a name?

The world of communications has dramatically changed over the last 10-15 years. The advent of social media, the democratisation of the media, the fundamental shift to consumers becoming content creators, and the public’s heightened scrutiny over what it reads and where the information comes from, has meant that organisations need to readdress how they communicate.

One of the key components of this is the name of an organisation.

Remember when you used to try and get in the front of the yellow pages? When AAAAA Aardvark was the hot new thing? So much has changed in the world of naming businesses, except one thing – everyone has an opinion.

Some say don’t use your names as they make you unsellable (anyone heard of Grace Bros, Dick Smith, Hoover or Ford?), and stay away from acronyms (what about QANTAS, AMP, ASOS or BHP?) because they clearly don’t work. And, don’t make up names, because they’ll never stick (Yahoo, Google anyone?) and don’t try and be cute – because that is a sure route to bankruptcy (Virgin, Bing, Apple?).

The only real way to work out what is the best name for your entity is to go right back to the beginning and ask yourself the fundamentals. Here are my four big questions for determining whether an organisation should consider renaming or rebranding:

1. What are we trying to achieve as an organisation?
2. Does our name/brand facilitate the achievement of these goals?
3. If not, what will?
4. If we do change our name, what are the associated risks?

When, and only when, you are convinced you need to change your name, do you proceed to the next stage. If you skip over this part, you’ll come unstuck down the track when you try and justify the change, the expense and the work to your staff, clients, shareholders and delegates. Like any organisational change, you need a strong narrative to relay the context to your people.

There are no rights or wrongs with names, only questions that need contemplation. I have received lots of flak for the name of our company. However, just before our own rebrand last month, we researched the views of our clients, industries and stakeholders who mostly agreed that retaining the name Zadro was the best move for us. Especially from our large corporate clients, who are used to working with communications agencies named after someone.

When I started the company I chose my grandfather’s name because to me he was a symbol of what passion, leadership, hard work, courage and a strong sense of community could achieve. For us, it has been the foundation of our company, and personally, I have taken a great solace and inspiration from his legacy.

If you are contemplating the great name debate, here are points to consider:

• Agree on what you are trying to achieve, where, when and with whom; always start with your strategic plan.
• Consult, consult and consult again. The people around your board table have an entirely different perspective than your customers and stakeholders – make sure you include their insights into the discussion. When you have a short list of names, test them in your market with people you respect and trust.
• Consider budget. A name is just the beginning; it is the foundation of a new brand, but only part of it. The full rebranding process (both internal and external) needs to be considered for optimum success.
• Have your name reflect the change you have just made or are just about to make. Changing the name should come after or just before a new strategy, new direction, merge or acquisition; otherwise it is a superficial quick fix that won’t mean anything.
• Have external facilitators guide the process because rebranding takes specific skills and focus, and having an impartial perspective keeps the emotional decision making in check.
• Do your research. Check ASIC, if the domains are available and the trademark can be registered in each state.
• Keep the group managing the rebranding and renaming tight. Have the same group of people go through the whole process from beginning to end, because getting a name approved by people who weren’t involved in the process is fraught with danger.
• Make sure your leaders are on-board because they have a vital part to play in selling the new name to staff and clients, and their authenticity and commitment will be on show.

Zadro offers a full scope of brand development services. For more information visit: www.zadroagency.com.au