Name evolution costs £5,000-£50,000 but signals growth and maturity. Time it wrong and you'll confuse existing customers while attracting no new ones.
Shortening Names
Federal Express → FedEx. Dunkin' Donuts → Dunkin. Happens after brand recognition is strong.
Dropping Descriptors
Apple Computer → Apple. Shifted from product to lifestyle brand.
When to Evolve
After 5+ years, when name limits growth, or with major funding round.
When NOT to Evolve
Years 1-3. You haven't built recognition yet. Stick with your choice.
Cost of Evolution
£5,000-£50,000. Less than full rebrand, more than doing nothing.
Communicate Clearly
"We're now [new name]" campaigns. Email all customers. Update all platforms same day.