New brand name for Xolo, increasing signups 4x in a month

Xolo is designed to simplify the bureaucratic necessities of business administration. It offers an easy way to legally invoice clients in 186 countries, manage business expenses, and handle administrative tasks with a few clicks. One of its key features is that users can declare the EU's Silicon Valley – Tallinn, Estonia – as their official business address.

The company shifted focus in 2019 to target solo entrepreneurs, prompting a reevaluation of the 'LeapIN' brand. Allan Martinson, the CEO at the time, sought out Proxy to assist in finding a new name that would better align with their updated vision.

In 2019, we started to offer services to all freelancers worldwide, and expanded our total addressable market tens of times. By becoming a general platform for solopreneurs, we needed a new name and brand identity.

– Allan Martinson, CEO, Xolo

The Naming Process

At Proxy, our approach to brand naming involves establishing storytelling and phonetic goals. For Xolo, we wanted the name to reflect the following attributes:

• Effortless: The name should mirror Xolo's ease of use, which simplifies the creation and management of companies.
• Grounded: To inspire trust in a new concept, the name needed to suggest stability and reassurance.
• Advanced: To reflect the technological sophistication of the service, the name needed to indicate an underlying complexity made simple and approachable.

After sorting through numerous potential names generated by the Xolo team, we shortlisted ten candidates based on the above criteria. The shortlisted names were then thoroughly researched and scored.

The Naming Decision

Several factors led us to recommend 'Xolo':

• Brevity: A two-syllable name is often easier to remember
• Relevance: The name subtly hints at the 'solo' entrepreneurs that Xolo targets.
• Technological Edge: The inclusion of 'X' suggests a technological advancement.
• Approachability: The repetition of 'o' and the soft 'l' lend a friendly and open feel to the name.
• SEO-friendliness: The name had no significant category conflicts and was poised to perform well in SEO rankings.

Rolling it out

Naming often stirs debate, and for this reason, we suggest clients keep the naming group small. Once we'd chosen 'Xolo', the CEO invited us to present the new name to the entire organisation during a company-wide meeting. A new name can significantly impact the organisation and individuals alike as it defines the corporate and personal professional identity.

The transition from LeapIN to Xolo was well received. The new brand, coupled with new products, led to a four-fold increase in sign-ups within a month. This success story exemplifies a well-executed re-branding process.

Transition from LeapIN to Xolo was received very well. The new brand and new products increased the number of signups by 4x in one month. It was an example of an almost-perfectly executed re-branding process.

- Allan Martinson, CEO, Xolo