How do you monitor and evaluate the performance of your new brand name over time?

2 Set a baseline

Before you launch your new brand name, you need to establish a baseline for comparison. This means collecting and analyzing data on your current brand name performance, using the method or methods you have chosen. For example, you can conduct a brand awareness survey before the change, and ask your respondents about their recognition, recall, and preference of your old name. You can also use web analytics to measure your current website and social media metrics, such as visits, clicks, shares, and comments. This will help you set a benchmark for your new brand name performance, and identify any gaps or opportunities for improvement.

3 Define your goals

Next, you need to define your goals for your new brand name performance. What do you want to achieve with your name change? How will you know if it is successful or not? You need to set specific, measurable, achievable, relevant, and time-bound (SMART) goals, that are aligned with your overall brand strategy and vision. For example, you can set a goal to increase your brand awareness by 20% in six months, or to improve your website conversion rate by 15% in one year. You can also set sub-goals for different segments of your audience, such as age, gender, location, or behavior.

4 Launch your new name

Once you have your baseline and goals, you are ready to launch your new brand name. This involves communicating your name change to your internal and external stakeholders, such as your employees, customers, partners, suppliers, media, and regulators. You need to explain the reasons and benefits of your name change, and how it reflects your brand identity and values. You also need to update your brand assets, such as your logo, slogan, website, social media profiles, packaging, and marketing materials, to reflect your new name. You can use various channels and tactics to announce and promote your new name, such as press releases, newsletters, blogs, videos, podcasts, webinars, events, contests, and influencers.

5 Monitor your progress

After you launch your new brand name, you need to monitor your progress regularly, using the method or methods you have chosen. You need to collect and analyze data on your new brand name performance, and compare it with your baseline and goals. You can use various tools and platforms to track and visualize your data, such as surveys, dashboards, reports, and charts. You can also use qualitative feedback, such as customer reviews, testimonials, and social media comments, to complement your quantitative data. You need to look for trends, patterns, and insights, that can help you understand how your new name is perceived and received by your audience.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?