The rebranding process is often times easier said than done, but it should not be considered an off-limits concept. Especially for startups who may not have the money to pay for professional naming services, it may be that the name you adopt does not resonate with your customer base. The foolish thing that any business can do is to recognize a bad decision but to stubbornly not make the necessary changes. The smart business decision is to start working on the rebranding process – maybe this time with some professional naming help.
If you find yourself in a situation where the rebranding process is necessary, you don’t have to feel alone. Some of the worlds largest companies went through a rebrand.
Larry Page and Sergey Brin, the founders of Google, originally launched the search engine under the BACKRUB name. After a year of living with BACKRUB, the name was changed to GOOGLE.
Richard Schulze, the founder of Best Buy, opened his first electronics store under the name SOUND OF MUSIC. However, after a tornado forced Mr. Schulze to run a large sale of the damaged merchandize promising “best buys,” which was a huge success, the company’s name was officially changed to BEST BUY.
Steve Case, the founder of AOL, launched the online bulletin board under the name QUANTUM COMPUTER SERVICES. This name stayed with the company while it acquired more than 100,000 members, but was eventually changed to AOL.
Caleb Bradham, the inventor of Pepsi, originally branding the soda BRAD’S DRINK, but about five years later rebranded it Pepsi-Cola. PayPal was originally CONFINITY. Blackberry was originally called RESEARCH IN MOTION. And Yahoo was originally called – take a breath – JERRY AND DAVID’S GUIDE TO THE WORLD WIDE WEB.
There are other examples that could have been included, but the point is that business owners should not be afraid to change course on a name if the name originally chosen is not working. Just make sure you conduct a trademark search on the new name first.