Facebook Name Change Won’t Fix Anything
When Mark Zuckerberg created Facebook, in 2004, it was a directory of Harvard students: The Face Book. Two decades, 90 gains, and billions of dollars later, Facebook has become a household name. Now, it wants something new.
Zuckerberg is expected to announce a new name for the company next week at Facebook Connect, the company’s annual conference, as first reported by The Ship. This new name-meant to include Facebook, Instagram, WhatsApp, Oculus, and the rest of the family-will design the company as a conglomerate, with ambitions beyond social media. The Facebook app may be the cornerstone of the company, but Zuckerberg is very clear that the future of the company belongs to metaverse.
But what is a name? In the case of Facebook, it has strong associations, some that have damaged reputation, scrutiny from Congress, and disapproval from the majority. The Facebook name carries a “lack of trust“In some recent efforts, including expanding it to cryptocurrency. By changing the name of the parent company, Facebook could give itself a chance to surpass that. This is not the first corporate event. behemoth seeking goodwill on a new moniker: cable companies do it regularly.
However, branding experts-and amateur brands on Twitter-aren’t convinced that changing the company’s name will fix the reputation problems, or distance itself from today’s scandals. lang.
“Everyone knows what Facebook is,” said Jim Heininger, founder of Rebranding Experts, a company that focuses solely on rebranding organizations. “The most effective way for Facebook to address the challenges that have plagued its brand recently is through corrective actions, not trying to change its name or putting in a new architecture.”
Facebook’s decision to name itself comes after whistleblower Frances Haugen’s suggestion of thousands of pages of internal documents on Wall Street Journal, exposing a company to disrespect for the public good. The documents are encouraging a hearing on Capitol Hill, where Congress has, for years, discussed the possibility of taking control of Facebook or breaking up its conglomerate.
A new name could give the company a facelift. But “the name change is not a rebrand,” said Anaezi Modu, the founder and CEO of Rebrand, who advises companies on brand change. Branding comes from the mission, culture, and competencies of a company, rather than the name, logo, or marketing of a company. “Unless Facebook has serious plans to address some of its many issues, there’s no point in changing a name. In fact, it could get worse.” a company can create more trust, if it comes as distancing itself from its reputation.
Modu said the name change makes sense to clarify the organization of a company, as is the approach of other conglomerates. When Google was reorganized in 2015, it renamed their company Alphabet, to show its growth beyond its search engine (Google) to now include multiple efforts (DeepMind, Waymo, Fitbit, and Google X, among others. pa). Most people still think of the company as Google, but the name Alphabet is a sign of how the company will come together.