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Branding & Identity: In what cases should one consider changing the name of their business?
JP
JP
Joseph Peterson, Names, Domains, Sentences and Strategies answered:

There are dozens of reasons why someone might consider (or ought to consider) changing a business's name. But you should only care about the factors that apply to your brand name and your business's situation. If I were giving recommendations without knowing who you are and what your goals and concerns are, then I'd be a charlatan, wouldn't I?

Realistically, if you find yourself wondering whether a rebrand is a good idea, then you must already see some advantages in exploring a new name or else some disadvantages in staying with your current business name.

Does that gut feeling mean that a rebrand is necessary? Not necessarily. Every naming choice is about balancing pros and cons. At least half the time when people ask me if they ought to rebrand, I tell them No.

That said, many businesses that wouldn't even dream of rebranding are hurting themselves with bad brand names. Not all. But quite a few. It's worth asking the question, and it sounds like you're ready to weigh the pros and cons. If you want some advice, names are what I do full time.

That's the answer I think is important. But I could also answer your question literally with a list of reasons to change a brand name:

(1) A new name may send better signals to customers ... telling your story better.

(2) Your business may have outgrown the services implied by the old name, or the current name may limit expansion or changing direction in the future.

(3) Maybe your name is just fine but you can't obtain the optimal domain name to represent it. In that case, rebranding may solve that problem.

(4) If too many websites or companies share a similar name, then your brand's identity may be lost in the crowd.

(5) Even if other similarly named websites aren't competing with you for customers, they are still competing with you for visibility in Google. So you'll face difficulties being found in search results -- unless you compensate by paying more for SEO and PPC advertising. So a new name can reduce marketing expenses.

(6) Your old name may be ambiguous, hard to spell, easy to mishear, or require some extra explanation whenever you encounter a new customer.

And so forth. I could list a few dozen more. There are as many potential reasons as there are people and situations.

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