A high profile business re-named itself at the end of 2021…did this news catch your attention?
There are only a very few circumstances under which it might be beneficial to re-name a brand.
After all, building a brand is a marathon, not a sprint and it takes a long, long time to build brand awareness and recognition, never mind emotional connection.
So, what are Facebook up to then?
Let me tell you this, I think it’s a VERY clever move.
Over the years, Facebook has evolved from a single platform, to a social media empire. Facebook became the name not only for one product but also for the parent company as it acquired new social media assets.
The word Facebook itself was adopted as a new verb. We could be ‘Facebooking’ every bit as much as ‘Googling’.
But now a new way of interacting online is coming and Facebook have made a shrewd move.
The Metaverse is just around the corner, and the company formerly know as Facebook have now made an early land-grab! Infact, although other players will emerge they will perhaps even be credited with naming the territory, at least in the minds of the general public.
The newly renamed META is what’s known as a parent company (in brand architecture terms), with a ‘House of Brands’ in its portfolio, including Facebook, Instagram and WhatsApp.
For the moment, these once rising stars are now becoming cash cows. Should they ever become ‘dead dogs’ they can be offloaded, without any brand damage.
As the metaverse begins to seep into our lives, we will seamlessly shift from one META product to another, and so our brand loyalty will continue, whether conscious or not.
Smart move, right?
If you’re mulling over a brand naming issue, don’t hesitate to give me a call. Together, we can explore whether re-naming could be good for your business.
We start with a 1 hour ABCs of Branding session, which might just turn out to be the best value you’ve ever had from £100…
B is for Brand – Achieve Brand Clarity