You’ve worked hard building your brand, but does your brand accurately reflect who you are and what you do? Personally - I use the cocktail party litmus test. When someone asks where I work, do I cringe when saying the name? For quite awhile, the answer was a resounding “yes.”
We’re freshly rebranded - with the process top of mind.
I started SocialRaise back in 2008 as a social fundraising platform, so the name made sense. However, throughout the years we’ve taken an agency approach solving problems for clients by concentrating on digital marketing, technology development, CRM and BI.
In 2008, the name worked - in 2017, not so much. We just relaunched the company as Monday Loves You (more on that below).
What about you? When is it time for your company to rebrand?
Below are 5 quick indicators that you may be ready for a rebranding:
- Your name is antiquated: Remember the days when the phrase “information superhighway” seemed edgy and cool? Some names age well - some don’t. We felt our name was outdated, and needed something new. Try thinking of a name that can be timeless, avoiding the risk of it becoming moldy. A good name has a long shelf life.
- Your name doesn’t represent who you are: Every time SocialRaise was mentioned, we had to follow up with a disclaimer about how the genesis was social fundraising, but now we’ve grown and evolved. Instead, we wanted a name that invoked optimism and reflected how we work vs. what we do. Monday Loves You is vague, however it’s also extremely malleable. It’s optimistic, and alludes to a positive start to each week.
- Your name doesn’stand out from the crowd: One of the most challenging parts of our rebranding was finding something that stood out. There are names that *you* think are unique, however the domain name is taken, or even more frustrating - the domain name is available, but there may be some conflicts in the trademark. If there’s anything similar in the marketplace - or could be potentially confusing to the public - you may run into conflicts down the line in using that name. I highly suggest utilizing the skills of a trademark attorney. The fees could range between $500-$1000, but you’ll save much more in the long-run.
- Your visual branding doesn’t work: Design aesthetic can change at the pace of technology. We were actually ok with our logo, but our site and portfolio needed a complete overhaul. Ask the question to yourself: does your digital presence accurately reflect who you are? Nothing is more detrimental than having a top-notch business with a lackluster digital presence. If yours doesn’t well represent you, time to update.
- Your name doesn’t have a solid story behind it. A name should have something special behind it. If it’s something unique, people will be curious to understand more. Why Monday Loves You? It's quirky, fun, while invoking a sense of optimism. Growing up, every Monday, my mom would wake me up for school. She would say, "Monday loves you and so do I. So get up, get ready, and make today count." Own your uniqueness, and have it be part of your story. Your name should reflect who you are - and provide positive feelings to your potential clients.
In summary, building a brand is tough. You put a lot of money and sweat equity to build a name with solid SEO - and more importantly - a wonderful reputation. Rebranding isn’t an easy decision, but it was vital to the future of our business - and it may be to your business as well.