What to consider when renaming your business
Renaming your business is a big decision. Here we explore situations that may lead to a business rename, plus the key factors to make sure that you land on the right name.
Morning I’m Jodie, I’m the MD at Tiny Hunter. And today I want to talk about something that thankfully, we don’t have to do very often because it tricky, it’s a lot of work and it’s also super important and that is naming a company. Your name is clearly an asset of your brand that’s going to be everywhere. It’s really important that it is bringing your strategy to life and positioning your company in the right way in the minds of your customers.
Why would you ever wanna change your name? It’s a really good question. Maybe you have merged some businesses together and you need a new name that better reflects everything you do or needs to be broader so that it can encompass everything that you do. Perhaps you started quite a while ago you had quite a narrow name in terms of being maybe a bit literal about what you do. Now you do many more things and you want a name that can stretch and flex across those things. You want something that’s not quite as literal. Perhaps you need to be more inclusive. Recently, we worked with ‘Men of League’ who have renamed and rebranded to ‘Family of League’. They needed a name that was more reflective of the diverse work that they were doing to support the community.
Let’s just imagine you do need to rename it’s been carefully considered you’ve thought about the equity that your brand has in the marketplace and the impacts of creating the change and you’ve got a good strategy around communications. You need to manage it really well so that people that know and love you come along on the journey and you don’t lose any business. Then what do you need? Well, you need something that’s unique you need something that’s memorable, that’s easy to say isn’t too long or complicated needs to have that breadth something that’s not literal so that you’ve really got that longevity would be really good. And then of course, you need to do due diligence. We like to work with IP lawyers to make sure that we’re doing all the checks and balances while we’re working through this process. And making sure that what you’ve got is something that you can register everywhere that you need to which is getting trickier when it comes to social media and domains and things like that. But, you can get creative there. And that you can really protect because it’s an asset.
So ‘Tiny Hunter’, we actually- the name ‘Tiny Hunter’ came out of a merger we brought two agencies together and we wanted a name that better reflected what we do. It’s not exactly literal though so, you probably have no idea what ‘Tiny Hunter’ means. But we really thought about the work that we do and we are agents of change we create transformation for our clients. We really used that as a point of departure in terms of looking what are symbols of change that we could draw on. And one of those is the dragonfly in many cultures. Little known fact ‘Tiny Hunter’ is an Australian species of Dragonfly. We also like to think that we’re always hunting for that tiny piece of gold that’s going to make your brand remarkable. That’s how we came up with our name.
Just to recap, naming or renaming it’s a very important part of your brand. Needs to be carefully considered especially if you’re renaming in terms of if it’s the right move for your business. You need to put in a lot of work with professionals to make sure that you’ve got the right name for the longer term. And then you need to do all the work to secure that name and carefully manage the launch and have a strong comms strategy in terms of bringing everyone along for the journey. That’s it from me, it’s time for brekkie.
Written by: Jodie de Vries
Published: March 8, 2023