When Is It Time for A Company Name Change?
Today one of our clients made an exciting announcement and launched a new brand and name. So, why after 16 years does a company decide to make the bold move of a name change? In this situation the company had evolved into more than what the original name signified. When Educational Services of America was founded in 1999, it operated private schools. However, over the years the company has increasingly expanded into behavioral health services and programs and the name no longer reflected the company’s breadth. With the launch of a new name, ChanceLight Behavioral Health and Education, and a new tagline “Changing the Direction of Children’s Lives,” the company can more accurately communicate the scope of its services…a unification of behavioral health and education solutions that help children all the country reach their full potential.
Other reasons companies decide on a name change vary from a change in ownership, a consolidation of several companies under one umbrella or the result of a merger or acquisition. Did you know Google was originally Back Rub or Best Buy’s first name was Sound of Music? Some of the most well-known companies in the world started with a name that was later changed…click here to see more noteworthy examples.
Deciding to change the name of your company is a big decision that requires a tremendous thought and planning. However, with strategic implementation and careful attention to both your internal and external stakeholders, it can be worthwhile.
Robin Embry is a Vice President at Lovell Communications. Connect with Robin at email@example.com.
Is your organization ready to “have the talk” and demonstrate sound stewardship of taxpayer funds? Consider these strategies to help prepare and lead this i...