As a company evolves, it may come to a point when leadership begins to wonder if it’s time for a new or refreshed brand identity (e.g., a new company name, tagline, logo design, etc.). This may be because there’s confusion out in the market as to what a company does, or perhaps the offerings have changed over the years and the name simply no longer fits.
We’ve developed these questions to guide your conversation about your company name and brand identity:
- Has your organization changed (or should it)?
- Has your customer or prospect base changed?
- Does your name require detailed explanation?
- Does the name misrepresent or inaccurately describe your purpose or offering?
- Is your name an acronym?
- Is the organization in an ongoing cycle of flat or in declining revenue?
- Is it difficult for clients to articulate your positioning?
If you’ve answered “yes” to more than one of these questions, then it may be time to consider what you can do to better position your brand identity in your market.
A name change is one of the most significant business decisions an organization can make. Not only are you changing the most essential element of your identity, you’re also impacting every external and internal brand and business touchpoint. So, it’s important to have a strategy in place to properly execute. We will have another post about some of the “speed bumps” that you should plan for if you’re thinking about changing or renaming your organization.
At The Jakes Group, we have vast experience helping companies explore their brand identity. If you’re thinking about rebranding or changing your company name, let’s have a conversation. Contact us today.