Reinvent with a new name and brand
Your company name could be confusing, too narrow, or just plain out of date. Rename to bring clarity, focus and energy to your reinvention.
Why rename your organization?
An out of date company name can limit opportunities, especially when you’re expanding into new markets. Or perhaps the business has changed and a new company name will better reflect who you are and what you offer.
the 5 benefits of rebranding
Chance to Reset
Rebranding gives businesses the power to control the conversation about their goals, values, and future. It’s worth noting that a rebrand won’t erase what happened in the past; it will, though, give professionals the opportunity to put things right that have gone wrong previously.
Rebranding changes virtually everything about its appearance. Ideally, this should help a company become more visible and recognizable. Introducing a quality logo, for instance, can make it easier for consumers to remember your brand.
Sometimes, companies want to shift gears and “go after” a new demographic or two. A rebrand affords companies the opportunity to reach out to new customers in an organic way. Rebranding signals that you’ve changed, and as such, are open to courting a new type of consumer.
If your brand bears a strong resemblance to those of your competitors, then changing things up can help you stand out from the crowd and realize a new, stronger identity. Remember, it’s always beneficial for a company to be eye catching!
A rebrand can and should deliver increased revenue as a result of greater exposure. True, rebrands are about ushering in a big change at your company, but they’re also designed to enhance a business’s potential. No one rebrands to scale down.
Company names are the first public act of branding
A fresh company name can separate you from competitors; demonstrate to the world what’s unique; or reinforce a niche or position you want to own. You can also simplify a long name (FedEx from Federal Express), or bring an old name up to date.
• A growing wholesale food broker found “Cascade Fruit & Nut” was too limiting. They chose a new name and brand as foodguys to support their friendly style. They’re now brokering food ingredients globally and growing fast.
• A technology support company had to distinguish themselves from former partners, and make a stand for their services. They renamed and rebranded from Xenex Group to Thought Velocity.
• An RV dealership needed a fresh company name. The old “Wine Country RV” was too close to other names nearby. They wanted personality. Waterdog RV was born.
Successful company names build a brand persona from the brand positioning. The new name quickly creates recognition and defines a focus. It’s a chance to reinforce the value provided to the target audiences.
With a new name comes a new brand identity system. Yes, we do that too. Really well.
HOW NOT TO RENAME YOUR COMPANY
While it’s tempting to start by asking people (team members, friends, your spouse, and so on) for ideas of names they like, throwing spaghetti against the wall and hoping something sticks is probably the least effective way to name a company. Often this path leads to weak names, clichés, and overused choices (like, say, Abacus Bookkeeping or Star Consulting).
Moreover, if you involve multiple people in the name generation, review, and choosing, you’ll likely fall into the quagmire of disastrous opinion sharing. This includes what people don’t like (usually every name proposed) along with people championing a favorite (which, shockingly, is generally the name they came up with). Naming by committee results in loss of focus, indecision, delays, compromised work, and dissatisfaction with the result. Groupthink unfortunately dilutes any unique result because “it sounds weird.”
YOU CAN’T JUST “NEED” A RENAME AND REBRAND … YOU MUST EMBRACE THE CHANGE.
If you and your team aren’t ready to embrace the change of a rename and rebrand, your minds will convince you it’s unnecessary. It’s a bad idea. You’re putting the cart before the horse. You’re already so well-recognized, why change?
Or … It’s too expensive. (Yes, it is an investment, not a minor expense.)
A new name and brand means EVERYTHING has to change — all new letterhead, uniforms, website, vehicle graphics, ads, email signatures, video branding, brochures, signing, etc.
Trust me, we’ve heard it all.
BUT IF YOU ARE READY … THE PROCESS ISN’T JUST FUN … IT’S EYE OPENING AND UNIFYING.
READY TO TRANSFORM YOUR BRAND AND BUSINESS? TALK TO US.
We’re happy to discuss the process and scope as well as the amazing results we can create for you.