Branding within the Actual World: Acronym Branding
Think about you’re Head of Model for a 50-year-old fictional firm known as Colorado Development Consultants. When CCC began, the homeowners selected a descriptive title to outline what the 20 folks within the firm did. As we speak, CCC employs 6,000 staff, has prospects all throughout the nation, and delivers companies to a bunch of different industries past building. Over time as the corporate advanced, it abbreviated its title to CCC.
This 12 months, you’re making ready for a serious dwelling enchancment convention the place CCC will launch its new software program and repair providing ensuing from an acquisition that’s poised to place the corporate as a pacesetter within the rising Web of Issues (IoT) phase in dwelling options. It’s clear that the phrases behind the CCC acronym now not describe the breadth and depth of what the enterprise does immediately. The board has not too long ago authorised a model refresh to speak the corporate’s new route. As a part of the dialogue you’ve been requested to place collectively a advice to the Board that as a part of the rebrand, the corporate contemplate a reputation change too.
You start to make the enterprise case by outlining all the challenges related to managing the CCC model:
- We’re continuously having to elucidate what CCC means and the way the title doesn’t describe what we do immediately.
- It’s tough to create that means and persona.
- We waste treasured time and resourcess explaining what the title means, as an alternative of touting the advantages to prospects.
- It’s arduous to “personal” the title from a authorized and search (website positioning) standpoint.
- It’s costly to drive that means, as we’ve to overtly compensate the opposite parts of the model to drive distinction (parts like emblem, design system, retail expertise, folks and tradition).
- We face the potential of competing towards all different forms of acronyms, together with actually tons of of different corporations, associations, and non-profits.
- We wrestle to indicate up on web page 1 for search outcomes on CCC regardless of a giant effort in enhancing website positioning.
- We future show ourselves by creating a reputation that extends to new market alternatives and characterize the breadth of what we do.
- We run the danger of a brand new undesirable acronym rising that will be very dangerous and cautious of tales corresponding to that of ISIS Pharmaceuticals.
You set collectively a listing of corporations which have been in a position to construct a powerful fairness in an acronym. From GE and IBM, to AARP and USAA these manufacturers have been in a position to “personal the letters,” partly investing hundreds of thousands of {dollars} to earn that recognition. You additionally observe {that a} fast “sniff check” in assessing whether or not an organization is well-known for an acronym is the extent to which they seem as the primary natural search time period in a Google search.
You’re feeling there’s a sturdy strategic and theoretical case for a reputation change, however what in regards to the sensible and emotional elements of the choice. Members of the board nonetheless affiliate strongly with the origins of the corporate and discussions could be considered via a private lens, irrespective of how information had been introduced.
You shift gears and you start to make the case for holding the title:
- As well as, with enterprise booming some could query the necessity to make a change with a “if it ain’t broke” argument and the potential disruption to enterprise, prospects, and associates in having to implement and clarify the model transition.
- Discovering a novel own-able new title has by no means been more difficult with the explosion of recent corporations and types over the past decade. An own-able descriptive title is nearly inconceivable to search out.
- The price of making the change is commonly ignored. From authorized to signage, a brand new title provides prices that we haven’t budgeted.
- Though different corporations with the CCC title exist, none play in our class. Our newest model analysis exhibits we’ve fairness with our current buyer base and excessive familiarity inside our core market.
As you ponder the opposite aspect of the coin, the advantages of adjusting the CCC title seem much less easy and the trade-offs don’t seem to disclose a transparent choice path.
The board assembly is 1 week away and there’s a lot extra work to do. What different nuances may there be? What else haven’t you considered? How will we in the end make the go or no-go choice.
What feedback or strategies would it’s important to assist make a go or no-go choice?