A Rose by Any Other Name? 4 Signs It’s Time To Rename Your Manufacturing Company
by Emily Swet
Is your B2B company suffering a failure to thrive? Don’t underestimate the power of your name. And when it comes to rebranding, don’t underestimate how detrimental a bad name can be, either. B2B companies are quick to list reasons why their businesses are stalling – limited marketing budgets, saturated markets, changing demands – but rarely do they associate a bad name with a stalled out company. It’s just a name, right? The thing is, even though you are selling to another business, you’re still marketing to another human being. And words have meaning. (You know, the whole pen mightier than the sword thing? Yeah, that.) So how do you know if it’s time to rename your manufacturing company? Here’s a cheat sheet.
4 Signs That It’s Time to Rename Your Manufacturing Company
- Your name is too plain. Basic names only work when you 1) are the first company in the field, and 2) have years to establish yourself, like General Electric. But imagine if a company like Amazon had been named GeneralOnlineRetailer.com. They would have been hard-pressed to stand out in the online boom of the 1990’s. (Amazon has an interesting naming story, by the by.) Take note of your competition and your standing before you choose a name like “Universal Plumbing Standards Corp.”
- Your name is meaningless to anyone but you. Initech, anyone? We understand that there are some names that have inside meaning or a rich personal history for your B2B company. But what does that mean to an outsider? It’s this logic that lead Quantum Computer Services to change their name to America Online, which directly translates their product and elicits an emotional response. Unless your name resonates your brand positively on an emotional or literal level, it’s just white noise.
- Your name is hilarious… and not in a good way. We’ll just glance at Analtech, who despite a near 50 year legacy, is rebranding to iChromatography – which not only explains what they do, but keeps those pesky web filters from blocking them in search.
- Your name is scandalous. It’s no surprise when a company like ValuJet has to rename and rebrand to AirTran after their crash in 1996. But if your business, innocently (and coincidentally) enough, happens to be called Lewinsky Auto Supply, it might suffer simply from association.
The right name for your brand will both value your heritage and leverage your position. Think it might be time for you to rename your manufacturing company? Drop us a line.
Tags: B2B branding, B2B marketing, B2B marketing tips, B2B rebranding tips, rename your manufacturing company