Finding a new company name in 7 steps
The rebranding of an organization takes place in many facets and steps. Finding a new name is a great challenge, especially when organizations value processes based on consent and participation. The process is even more complicated if all meetings take place virtually. But do not worry.
Although the rebranding may feel overwhelming and challenging – which it certainly is, we have created a step-by-step guideline that helps you to structure your renaming process.
1. Step – Setting up a project timeline
Decide on timelines for milestones, meetings, and final reviews. This helps you to keep up with the process and ensure that the renaming project remains present in your daily business.
2. Step – Define the renaming team
In the name of consent, you can encourage interested team members to take part in the renaming process. Make sure that the team is as diverse as possible. Diversity means added value, and it is important to have as many perspectives represented as possible. However, the team should not be too large. We all know: too many cooks spoil the broth. A maximum number of eight participants appears suitable to us.
3. Step – Collect naming objectives
Which objectives shall the future name fulfill? Catchy, pronounceable, competitive? Do we want to include a claim sentence? All these “logistics” are discussed in this step in order to create a framework for the new name. Get together as a team and brainstorm the name objectives. You can then cluster the ideas and summarize them into a few main categories.
4. Step – Collect the worst ideas possible
Make sure that you are on the same page regarding “no goes”. This step may help you to come closer to your ultimate goal – it already excludes many possibilities and narrows the focus.
5. Step – Brain Dump
Now it’s time to start talking about the actual names. With the objectives and the worst ideas in mind, everyone brainstorms possible names that are then collected and discussed. The team negotiates pros and cons of each idea. In the process, further names might be generated through combinations of the suggestions. The team then has the task to agree on five names that will be taken on to the next step.
6. Step – Pressure test
The short-listed names will then undergo a pressure test and be shown to a wider audience. This can consist of customers, friends, family, other employees, or business partners. What do they think? Maybe they voice concerns that the team has not thought about before. Is there one clear favorite?
7. Step – Agreement and implementation
Through consent, the team considers the feedback from the pressure test and finally agrees on the new company name. Now, the design of the logo and legal processes can take place. Hooray – the renaming is finished.
Everything taken care of?
You may have noticed that one step is missing – the communication of the new name to customers and other stakeholders. If you need a moderator and process owner for finding a new company name, please approach us. Edl Consulting has a pool of trainers and coaches well experienced in accompanying you in the renaming process or other workshop setups.
Contact us – we look forward talking to you.
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