Whether you’re a large system with a national presence or a small, local clinic, no one is immune to the business and market changes that make your organization contemplate the need to rename itself. Change can be great and may drive results both short-term and long-term, but it can also draw consumer confusion and concern if handled incorrectly. There’s no magic quiz to take to help you determine that this is the right step for your organization; it will take a lot of research, consideration and strategy.
We’ve found that starting the process by evaluating the current positive and negative values your current name holds is imperative in helping navigate this delicate process.
Positive Value
- Is there brand equity?
- Is the name easy to remember, spell and pronounce?
- Is the name easy to understand?
- Does the name support the business strategy?
- Is the name representative of the personality and positioning?
Negative Value
- Is there brand confusion?
- Has there been PR damage to the brand name?
- Are there negative connotations of the name?
- Does the name limit growth?
- Does the name still work?
Weighing the number of yes’s answered in the positive value section against the number of those found in the negative value section will help you objectively see the need to move forward with or postpone the renaming process.
Our team is on hand to help you jumpstart your rebrand; contact Jennifer Horton at jhorton@tenadams.com or 812-253-6311.
