Renaming is a big decision for your brand, and not one to be made lightly.
How do you know if you should rename your company, your brand or your website?
- You should really do an in-depth assessment and analysis of your brand’s traction and equity. This involves looking at things like how many people recognize that business name, how widely distributed your old name/URL is out there, how memorable your current name is, etc.
- You also want to look at your investment in your current brand – how much stuff do you have with the name on it (brand, legal, banking, articles, etc.)? And what would it take to change the stuff that you’d need to have for the new brand?
- The flip side of this is looking at the need for a fresh reputation/ clean slate: if your old brand is known for one thing, but you want to go in a different direction, it can be easier to change everything.
- Of course, you also have to look at it from the emotional perspective for you… in my case, my old brand was so wrapped up with “issues” for me that I needed a clean break and new direction. It was past all possibility of a brand evolution with that name for me personally, so I just went for it.