Rebranding! Take one step back and then two steps forward
If you are in the midst of a project execution and suddenly decide to modify (even slightly) the planned course of action, it is likely that your decision may be viewed negatively in some way. It may even be seen as a sign of improvisation, weakness or insecurity.
But we see this kind of situations as an opportunity; a competitive advantage. Your weaknesses can become your strengths if you are able to acknowledge the faults (whether big or small) of your initial plan and do what it takes to rectify or improve them. If it’s done right, everyone will benefit.
The main reason for launching a beta version of iMira was to learn about your user experience with the platform. We’ve received many helpful suggestions and observations (you’ve even helped us identify some small bugs!) and implemented the ones that brought considerable improvements (the reported bugs are all fixed, of course 😉)
There was one suggestion specifically that came up quite often, a member of our group had even mentioned it at one point. We have thought over it carefully and have finally decided to go for it.
So, what is it all about?
To sum up, we have done a rebranding of our tool. Several experts in the design and marketing of products and tools based on blockchain technology have pointed out to us a number of aspects that could be improved, such as the name, the typography and the general style.
Changing the name of a product or a brand may be viewed as a rash or even fraught decision; however, we are still in an early stage and therefore have the time to implement all the necessary changes without causing too much discomfort or damage.
Although there is no general awareness about it (which demonstrates that the change is not as traumatic after all and that people end up forgetting about it), rebranding is a practice that many well-known companies have undertaken. And their products have finally come to dominate the market. Want some examples? Here are a few:
· Cadabra => Amazon
· BackRub => Google
· Twttr => Twitter
· Phoenix => Firefox
· Jerry’s Guide to the WWW => Yahoo!
· Datsun => Nissan
· Lucky and GoldStar => LG Electronics
· Mallory Battery => Duracell
· Kwannon => Canon
· Kraft => Mondelez
· Telefónica => Movistar
· Andersen Consulting => Accenture
· Philip Morris Tobacco => Altria
We even have a successful example of rebranding in the area of blockchain, specifically, a cryptocurrency that was first called Darkcoin was changed to Dash in 2015, it became very successful and got greater acceptance among users and on the cryptocurrency market. With no doubt the negative connotations of the original name of the coin led the creators to taking such an essential step.
After weeks of brainstorming sessions and mulling over creative ideas (some of which arose, ahem, “out of office”), we have finally created a new brand. We’re satisfied with the new image and we are pretty sure that it is going to be a sure design and marketing success! Fingers crossed!
What name have you chosen? Let it out for once!
The new name we have chosen is ta-da…. NOIXION! It is the name of both our multimedia platform (previously iMira) and our cryptocurrency (previously Millennium Coin), also known as NXN. We hesitated about it at first because it seems difficult to pronounce… but we like it a lot now. Especially after the suggestion of shouting it out loud, even at the risk of looking crazy!
We hope you will like it too and we are looking forward to getting new suggestions from you.
Why NOIXION?
Following your valuable feedback, we believe that the name has many of the characteristics proper of a product based on blockchain/cryptocurrency:
1) The way it sounds: those ens and exs… mmm.
2) It’s a palindrome: it reads the same backwards as forwards. Although we hadn’t thought it out for our Arab friends, we’re sure it’ll be of much help.
3) It is representative of our product and of Blockchain-related keywords, such as “ON”, “Mass Adoption”, “Motion”, “Perception”…
4) Multimedia content combines audios and videos; the name joins the words Noise + Vision. We refer to the pleasant noise, of course!
5) Having one same name for the cryptocurrency and the platform prevents confusion.
6) It has allowed us to keep parts of the previous graphic and chromatic design.
7) All those characteristics broaden the range of marketing options.
8) It solves our doubts caused by the old names.
9) And, last but not least, the domains we wanted were free! NOIXION was our first choice and we were very lucky to not have to change it to a different one.
We hope that you will be as passionate about this new name as we are and that it will be widely accepted by both users and the market. We can’t wait to see NOIXION succeed!
P.S.: keep sending us any doubt or suggestion regarding our project! They will be sincerely welcome!
