How to Rebrand Your Business and Domain Name

written by

Joe Uddeme

Joe Uddeme

How to Rebrand Your Business and Domain Name

Looking to rebrand your business? It’s not an easy undertaking to rebrand an established business – I’ll walk you through some of the things to watch out for when working on a rebrand for your business.

How to rebrand a business

Branding is a critical consideration for every business. Branding refers to promoting your products with a distinctive feel and design. It’s an ideal way to differentiate yourself from competitors.

No matter how good your products are, you won’t sell them without proper branding and customer awareness.

Branding isn’t an easy task. We wouldn’t have many companies struggling to sell themselves if it was. The world is littered with failed branding strategies even from big brands.

Netflix’s struggled early on to use Qwikster to break out its DVD rental service and its streaming service.

However, a failed branding strategy isn’t the end of the world. Any business can rebrand and make it right with consumers. Netflix didn’t give up when its Qwikster brand failed. It continued DVD rentals with its usual name (successfully) before pivoting to video streaming later.

When your initial branding strategy doesn’t work, the intelligent thing to do is a rebrand, and there are specific factors to consider when doing that.

Be clear on what’s driving the rebrand

Before initiating rebranding efforts, you must be clear on what’s driving the need for the rebranding. There are varying reasons for a business to rebrand, and each demands different strategies.

The most common reasons for rebranding include:

  • Having an outdated brand
  • To reposition your brand
  • Reputation management

Brands can become outdated when they fail to keep up with rapid changes in modern style and influence.

For example, a social media site from the early internet days won’t survive well in this current internet age when we have vastly different demographics. The early social media platforms became outdated over time and those that failed to rebrand lost market share.

You can also rebrand to reposition your company’s business strategy. If your original name focused on a niche, but has evolved to target a broader offering.

FilterEasy to Second Nature is a good example of a brand that changed brand names to better align with their new offering. They originally focused on selling only filers, but evolved to sell home care products.

Businesses also rebrand for reputational purposes. You may have started with a well-meaning name that unfortunately became associated with negative things in the future. A typical example is a Chinese fashion retailer named ISIS that had to rebrand when the name became associated with terrorist activities.

Focus on the Core Messaging

Your rebrand should have clear and concise messaging. You should be able to tell a story with your new brand that customers can relate to. Just don’t rebrand without context because it can irk existing customers.

Let them know why you’re rebranding (see no. 1 point) and why it’s better for the business. A simple explanation goes a long way in making your customers empathize with you despite the short-term inconvenience.

Consider your audience, market, and competition

It would help if you thoroughly evaluated how your rebranding would affect your existing audience (customers) and standing against competitors in the market. Ensure you research to validate if your rebranding reasons are appropriate.

How would your customers react to an unfamiliar brand name? Is there intense brand competition in your industry? These are good questions to ask before initiating any rebrand. You must be sure that the direction of your rebrand matches what customers want.

There are two main types of branding research; quantitative and qualitative. Quantitative research entails collecting and analyzing numerical data to find patterns, while qualitative implies using non-numerical data.

Publicize your new brand

Your rebranding efforts will be futile if you don’t make customers aware of it. Consumers have short attention spans, meaning they can easily forget your old brand. Once you rebrand, assume you’re a newly-formed brand and market like one. Buy ads on social media platforms, search engines, TV, etc., to spread the word about your new identity.

How do I rebrand an existing business?

Buy a new domain name

In this digital age, not having a website puts you on a lower level than your competitors. Hence, the first step to rebranding an existing business is securing the proper domain name.

Before choosing your new brand name, check if a corresponding domain name is available. Your domain name is how customers would find you, so you can’t afford to make errors here.

You can buy any available domain name through any domain registrar. However, there are cases where a domain you want is already taken, and you see yourself having no other choice.

Don’t fret. You can enlist a domain name broker (like Name Experts) to find and contact the owner with an offer on your behalf.

Change your logo

A logo is an essential aspect of any brand because it’s one of the first things a customer recognizes and identifies with. Hence, you should change your logo during rebranding to signal your new brand identity. You can make your logo simpler for customers. Likewise, you can use unique colors to make your new brand stand out from your former.

Change your slogan

Many brands have a slogan that customers resonate with, e.g., Nike’s “Just do it” and Disneyland’s “The happiest place on earth.” It would be best if you changed your slogan when rebranding to flaunt your new brand identity.

Create new ads

You should create advertisements fitting your new brand identity. Your ads will now use a different slogan, color palette, keywords, etc.

What does it mean to rebrand a business?

Rebranding is the process of changing an organization’s corporate image. It entails creating a new look and feel for an existing company to influence customer choices. A rebranding company would typically change its name (and domain), logo, slogan, vision, mission statement, etc.

Why would a company rebrand?

There are various reasons why a company would rebrand. It could be repositioning themselves for a new business strategy, reputational management, or simply fixing an outdated brand. If a company is switching from a niche market to a larger one, it’s wise to rebrand appropriately to match its new focus (e.g., FilterEasy to Second Nature).

Likewise, if a company’s brand suffers from a poor reputation due to internal or external causes, a rebrand can help avert it.

Should you rebrand your business?

Rebranding is a hectic and expensive undertaking that you must do only with a clear goal. If you’re not looking to change your strategy, avert a reputational crisis, or face other standard issues that call for rebranding, we advise you to avoid it.

Subscribe for More Domain Buying & Selling Advice

Related posts

Default alt text
What Is A Domain Name and Why Do I Need One?

People often come to us when they are just getting started in their business and ask us, “what is a domain name and why do I need one?” If you’re a beginner when it comes to domain names, don’t worry. You’re not alone. You might be confusing domain names with website or even website hosting service, and we’re here to help. In this overview, we’ll answer all your questions about what is a domain name, how it works, and why you need one. Hopefully we’ll give you tips you need to choose the right domain for your business. An Overview To What Is A Domain Name To put it simply, a domain name is the address of your website. It is the phrase or word that you will type into your URL bar of your browser to find your website. For example, our website is https://nameexperts.com/. You can purchase domain names through a domain registrar, through a hosting provider, or let a domain name broker help you. What is the DNS? In answering the question, what is a domain name, we thought we should also address the DNS. Domain names are part of a large network called the Domain Name System (DNS) and it is managed by the Internet Corporation for Assigned Names and Numbers (ICANN). The ICANN is a non-profit organization responsible for management and maintenance of the DNS, as well as regulating domain registrars. How Does the DNS Work? Here’s how it works, as simply as possible. When you type a domain name into your browser, your computer will check if you’ve previously looked at that domain. If not, then your browser will contact the local DNS server to pull it up. Your local DNS server breaks down the domain name into sections. We’ll use our name again as an example. There are three parts to nameexperts.com – www., nameexperts, and .com. The .com is known as a top level domain (TLD) and the local DNS server will search for this section first, and then additional serves to find all the details of your domain name and send that information back to the browser you’re using. There are obviously a lot more technical steps that go along with that, but that’s the basics of how the DNS works. Let’s talk more about what you really need to know – what types of domain name extensions are available. Different Types of Domain Name Extensions As we discussed above, all domain names are made up of a website name (nameexperts), and a top level domain (.com). Though the extensions can vary, we think it is useful to know the differences between the types of top-level domains available so that when it’s time to choose your domain name, you choose the right one. The two types we are going to talk about today are Generic Top-Level Domains (gTLDs) and Sponsored Top-Level Domains (sTLDs). Generic Top-Level Domains (gTLDs) Normally the best course of action is to choose a reputable TLD like .com, .net, or .org. But because these are so popular, there are millions of domain names that have been registered to date, the name you want might be taken or just hard to find a name that works. There are different and lesser known TLDs. Here are some of the most generic: .com (commercial) .info (information) .org (organizational) .net (network) .biz (business) Sponsored Top-Level Domains (rTLDs) In addition to gTLDs, there are also some top level domains that are sponsored by organizations or agencies for very specific and often exclusive use. Here are some examples you’ll recognize: .gov (used by the US government) .edu (used by educational institutions) .int (used by international organizations) .mil (limited to US military entities only) Subdomains We thought we should also mention subdomains. A subdomain is also known as a third level domain and is an extra part of a domain name. They are viewed as separate websites by the search engines, so creating subdomains can help improve your sites SEO. Specifically, a good time to use a subdomain is for a blog. It might look like https://blog.nameexperts.com. How To Choose The Right Domain Name Now that we’ve answered what is a domain name, we want to help you choose the right domain name that accurately reflects your business. You want to be easy for your target market to remember and be something that is timeless. Your domain name broker can help you find the perfect domain name and get you started with the process that goes along with it. Start by doing some research on keywords that are relevant for your business. Whether it’s the name of your business or another keyword that relates to your business and you want to rank for, this type of domain name will help improve your site’s SEO. Another tip is to keep your domain short and memorable. You want it to stand out but be easy to remember – try to keep it three words or less. You also want to make sure you avoid numbers and hyphens. People won’t remember where they go and they might mistype. Which leads us into another tip for choosing your domain name, make sure it is easy to spell. Shy away from words with multiple spells or might be difficult to pronounce. Think long term, you want a domain name that supports the growth of your business and will last for years to come. Changing your domain name later can really hurt your business. Let Us Help Getting your domain name right is really crucial for your business or organization. It can help define your brand and be the thing that makes a lasting impression on your audience. Do your research, and let the experts at Name Experts help you find the perfect domain name to fit your needs. We can help you find the right name for your business, and even help you buy and register a name, even if it already belongs to someone else. Give us a call today and let us help you with the domain acquisition process. From start to finish, we will walk you through the steps and make sure you get all your questions answered.

Default alt text
What is Domain Name Escrow & How Does it Work?

Escrow is an important thing to pay attention to when buying domain names, especially those of high value. This article will explain how domain name escrow works and the necessity of using a domain escrow 3rd-party during a domain name transaction when making highly-priced acquisitions. What is Domain Name Escrow? Domain name escrow is a specialized service designed to protect both buyers and sellers during domain name transactions. In this process, a neutral third-party agent holds the payment and domain information until all conditions of the transaction are met. This setup ensures that the buyer receives the domain name and the seller gets their payment, significantly reducing the risk of fraud and deception. By using domain name escrow services, both parties can enjoy a secure and efficient transfer of domain ownership, providing peace of mind throughout the transaction. What Is Escrow? Escrow is an arrangement in which a neutral third party temporarily holds money meant for a purchase until specific conditions are met. The money will only be transferred to the intended recipient when the conditions are met. If the conditions are not fulfilled, the money will go back to the buyer. In domain name and other transactions often, the escrow process involves a lawyer managing legal documents, ensuring compliance with laws, and securely holding the assets and money in a trust account until the terms of the agreement are fulfilled. What Can Escrow Be Used For & Why Escrow is common in transactions where a significant amount of money is involved, e.g., real estate. It is necessary to protect the buyer from losing money in case the seller does not fulfill the terms of the deal. Domain transactions can be pricey, which makes escrow and other services necessary just like with real estate. After all, domain names are online real estate. Escrow protects against: Sellers refusing to deliver a domain despite agreeing to do so. Buyers refusing to pay for a domain despite an agreement to buy it. Payment being made, and the domain not being transferred to the buyer. Secure payment is crucial in domain name transactions, and escrow services ensure that the financial exchange is safe and protected. In short, escrow ensures that both parties in a deal stick to their agreed terms. It is a mediator of the transaction and refuses to complete it until both parties act in good faith. How Does Escrow Work? 1. Agreement on price and deal The buyer and the seller negotiate and agree on how much is to be paid for a domain name or group of domain names. They also negotiate important factors like the date of payment, method of payment, and what currency to use. 2. Buyer places agreement with an escrow company With the deal terms drawn out, the buyer finds an escrow provider and deposits the payment with an escrow agent. Once the payment goes through, the buyer pays escrow company will notify the seller and tell them to transfer ownership of the domain name related to the escrow transaction. 3. Domain Name Is Transferred The seller will transfer the domain name to the buyer. The wire transfer procedure varies depending on the domain registrar, but both parties will work together to ensure a smooth transfer. It is crucial to involve legal counsel in domain transfers to secure the transaction and ensure compliance with legal requirements. 4. Domain Transfer Is Confirmed After the domain is transferred, the buyer will notify the seller agree the escrow company that the seller has fulfilled their part of the deal. 5. Payment Given To Seller With the domain transfer confirmed, the escrow company completes the escrow transaction by using money order and sending the money deposited by the buyer to the seller. What fees are associated with using an escrow service? The escrow usually charges a commission on the value of the deal. Some may also charge a flat fee in addition to a commission. The exact commission may vary depending on the deal volume. Benefits of Using Escrow For Buyers and Sellers The benefits of using escrow for domain names include: Security: The escrow holds the money until all deal terms are fulfilled, so there are little chances of the buyer losing their money without getting the intended domain name. The buyer also feels more secure dealing with a trusted escrow company than with a stranger over the web. Additionally, escrow services safeguard domain transactions by holding funds and domain holder information, minimizing the risk of fraud. Assurance: The buyer is assured that they will get the domain they want, and the seller is assured of payment once the domain transfer is confirmed. Customer support: Escrow services usually offer customer support and can guide the buyer throughout the process of acquiring a domain name. Choosing the Right Escrow Services Selecting the right 3rd-party escrow provider for domain name transactions is crucial for a smooth and secure process. Start by looking for a reputable and licensed escrow company with a proven track record in handling domain name transactions. Evaluate their fees and payment terms to ensure they fit within your budget. Additionally, consider the quality of their customer service and support, as this can be invaluable if any issues arise during the transaction. A reliable escrow provider should offer a secure and transparent process to deposit funds, with clear contractual obligations and a well-defined escrow agreement. Research the company’s reputation online and read reviews from previous clients to ensure you are working with a trustworthy escrow company. Domain Name Transfer and Intellectual Property Transferring ownership of a domain name involves several steps and can be particularly complex when intellectual property rights are involved. A domain name can be considered intellectual property if it is trademarked, which can impact its value and transferability. Before proceeding with a domain name transfer, it is essential to conduct a clearance search to ensure the domain name does not infringe on any existing trademarks. Utilizing a domain name escrow provider can facilitate this process by ensuring that both parties fulfill their contractual obligations and that the domain name is transferred securely. This helps protect best interests of the buyer and the seller, ensuring a smooth and legally compliant transfer of the domain name. Alternatives To Using Escrow Attorney A licensed attorney can draft a sales contract that is legally binding for buyer and seller. If any party breaks the contract, they can be sued for damages in court. The attorney can also act as an escrow organization and only transfer money from the buyer to the seller if the terms of the contract are fulfilled. An attorney is crucial in selling domain names to ensure all legal aspects are covered and the transaction is secure. Domain marketplace There are many marketplaces where you can acquire domain names. Here, the marketplace acts as a custodian of the domain and only the seller transfers it to the buyer after payment is confirmed, which is then given to the seller. Best Domain Name Escrow Services Escrow.com Escrow.com is the world’s largest online escrow service, and it has specific features for domain sales. The buyer can initiate the escrow request and provide the seller’s contact information for Escrow.com to get in touch. The buyer transfers the agreed sum to Escrow.com, and it is only when they confirm the domain has been successfully transferred that Escrow.com will disburse the money to the seller. Escrow.com charges 3.25% for deals between $0 and $5,000; 0.89% for deals between $5,001 and $25,000; and $162.5 + 0.25% for deals over $25,001. Sedo Domain Transfer Service Sedo is a popular domain name and website marketplace, especially useful for those looking to buy or sell domain names. Its domain transfer service puts it as a middleman between the buyer and the seller. Sedo receives the payment from the buyer and the domain name from the seller. When both ends are confirmed, then Sedo transfers the domain to the buyer and the buyer sends the money to the seller. This service incurs a 3% fee on the domain purchase price, with a minimum of $60. Afternic Afternic is another popular domain name marketplace focused on high-value domains. It offers an escrow service to protect both the buyer and the seller. Afternic holds the agreed amount and only disburses it to the former owner or seller when the buyer has confirmed receipt of the domain. If either party breaks the deal terms, the sale will be canceled and the money given back to the buyer minus the escrow fee. The drawback here is that Afternic doesn’t charge escrow fees separately. It takes a 20% fee which includes both sales and escrow commissions on all domains listed on its platform. Using an Escrow Service It is necessary to use an escrow service if you are paying a significant amount for a domain name and it helps protect you and the seller. If you need guidance in the domain buying process, including escrow, contact us for help. We have negotiated over $125 million in domain name sales and have over a decade of experience in domain name buying and transfers.

Default alt text
Most Expensive Domains Ever Sold

If you’d had the foresight to register a domain name like golf.com or hotels.com when the internet first started, you’d have been sitting on a goldmine. Domain name valuation expert and broker Joe Uddeme investigates.   What Are The Most Expensive Domains Ever Sold – An Expert Analysis In the vast landscape of the internet, domain names serve as the digital addresses that guide users to websites. Think of a domain name as the online equivalent of a physical address; it’s how people find you in the vast expanse of the web. Whether you’re a business, a blogger, or an individual, having a memorable and relevant domain name is crucial for establishing your online presence. Domain names are not just about being found; they are about being remembered and trusted by your audience. Domain names sell for a wide range of prices, from just a few dollars to millions, reflecting their value and market demand. A relevant domain name can improve a site’s visibility and attract organic traffic by aligning with users’ search behaviors and preferences in different search engines. In this guide, we’ll look at some of the many factors behind domain name values and explore those that sold for the highest prices. Key takeaways: Serious bidders always assess the potential return on their investment before bidding. The most expensive domain name ever sold for just under $1 billion. Short, memorable names command a higher premium than ever. Domain names can be traded like shares – with fortunes being made (and lost)! What Makes Valuable Domain Names? A domain name’s value is influenced by several key factors. First and foremost, rarity plays a significant role. Just like rare collectibles, domain names that are unique and scarce tend to be more valuable. Demand is another critical factor; a domain name that is highly sought after by businesses or individuals will naturally command a higher price. Revenue potential is also a major consideration. A domain name that is easy to remember and directly relevant to a business or brand can drive significant traffic and, consequently, revenue. Brand recognition and online presence further enhance a domain name’s value, as a well-known name can attract more visitors and establish trust. The concept of an ’empty domain’ highlights that true value lies in memorable and brandable domains rather than random letter combinations. The length and structure of a domain name are also important. Shorter domain names, especially those consisting of a single word or a combination of two words, are generally more valuable. Avoiding hyphens, underscores, and other punctuation can also help maintain a domain name’s value. Market conditions, however, can make seemingly meaningless combinations valuable, as seen with some of the most expensive domain names sold in 2023. Lastly, the domain extension, or top-level domain (TLD), can impact value. The most valuable TLDs are .com, .net, and .org, as they are widely recognized and trusted by users.

Why Work with Name Experts

Name Experts offers personalized domain brokerage services, assisting clients in buying or selling premium domain names with expert appraisal, negotiation, and complete transaction management while ensuring confidentiality.

Some of our most
successful stealth acquisition and sales

Aid.com

Fit.com

Mine.com

GLD.com

Jeff.com

Fora.com

Nori.com

Secure.com

Guitar.com

F*ck.com

Radian.com

MetaData.com

Prize.com

Link.com

Loop.com

Programs.com

Claim.com

Quince.com

Hook.com

QXO.com

NQ.com

Rest.com

Humani.com

Max.com

Need help buying or selling your premium domain?