What Does Your Brand Stand For?
Step III—Building Brand Elements That Fit These Attributes
“The next step of our brand-identity-building effort is to come up with an appropriate name, logo, tagline, messaging, color palette, and other graphical elements that fit these attributes,” Marka said.
Zoot was already sketching a logo out on a piece of paper. “Finally,” he said, “I get to unleash my inner Androcydes.”
“Do we really want to rename Fire Enterprises, Inc?” Org asked warily.
“This is a rebranding, Org,” Marka said. “No change should be completely off-limits without at least a discussion first. Let’s not be afraid to kill sacred cows. That said, if we’re going to change our name it has to mean something. Remember Mars Seafood?”
“Mm,” Zoot said. “I’m getting hungry just thinking about their delicious trout.”
“You’re always hungry, Zoot,” Marka said. “Anyways, awhile back Mars merged with Demeter Farms to form a surf-and-turf company. The name they went with? CronusCo.”
“What does that mean?” Numo asked.
Marka shrugged. “I have no idea. Nobody does. I do know that CronusCo’s stock lost about 90 percent of its value in its first year, and the amorphous brand name may have contributed to that. The lesson? Brand names must have meaning. They must instantly resonate with customers and - to state the obvious that eluded CronusCo—make it clear what the company does!”
“We’ll talk in more detail on this topic at tomorrow’s meeting,” Marka concluded.
Zoot was already sketching away. “I can hardly wait!”
Next week: Marka and the tribe discuss creating logos, taglines, color palettes, and other key brand elements.
Today’s FIRE! Point
Start rebranding efforts by brainstorming a list of attributes for which you want to be known, narrowing down those attributes to just a few, then developing brand elements based on these attributes.
FIRE! In Action: Looking for A New Brand Name? Don’t Overthink it
In the late ‘90s, an Iowa-based postpress company was brainstorming new brand names. During a brainstorming session, someone said “We finish. We bind. How about FinishBinders?” The simple name makes it crystal-clear what the company does. More than 15 years later, FinishBinders is going strong with that same name.