How to Use Data to Guide Your Rebranding
Companies go through rebranding all the time, especially scrappy startups that launch on the idea that “done is better than perfect”. They’ll go through choosing a business name, throw a brand together to get in front of an audience, then take an iterative approach to rebranding until it sticks.
There are plenty of ways to ensure your business strategy will become one that leads to a succesful business. But, what about all the things you shouldn't do when starting a small business?
Keep reading for six mistakes that successful entrepreneurs avoid when starting and building their own small business.
Can a bad company name hinder your business, and can a good company name help with its eventual outcome?
The science of sound symbolism is the study of the relationship between the sound of a word and its meaning. The ancient Greeks were the first to theorize that there was a relationship between sounds and word meaning. In Plato’s Dialogues, he recounts a debate where Socrates rejected the contention that the relationship between sound and word meanings was purely arbitrary, contending that in the “good words” sound and word meaning were the same.
On average, five to seven brand impressions are required before someone will remember your brand, according to Pam Moore. And, with everyone constantly being on his or her smart phones or computers, this means it’s imperative to get your brand identity established online when building brand awareness.
Companies are changing names and rebranding to include references to Bitcoin or the technology behind it. Reminiscent of the dotcom boom, digital currencies are looking like the next big thing. More businesses are jumping on the cryptocurrency bandwagon every day and name change announcements are one of the things sending stock prices soaring. For some businesses, a simple rebrand has sent shares increasing by 4-5 times.
Much of society revolves around the latest trends - clothing, music, art, etc. Everyone wants to be seen as relevant and in style. The business world is no different. Every year, trends emerge even in regards to business names. What may have been modern just a few years ago may no longer be considered chic, which begs the question: What naming trends are currently influencing the business world?
Launching your brand is arguably the most important part of building your company. The process of introducing yourself to your target market is an activity that can make all the difference in your company’s future. An unsuccessful launch can be difficult, if not impossible, to overcome. It is imperative that you devise a launch strategy that will maximize your company’s chances of success.
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Brandroot focuses only on content related to business naming. Before selecting the name of your venture it is important that you have a solid grasp of what you're in for.
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