Looking to re-brand our 11 year old (long & geo specific) physical therapy practice name to one that is shorter, easier to pronounce and less geo specific. Thought is to make it more brandable as well as expandable to other areas besides improving the exit value in future. Current name is similar to 'Dayton Physical Therapy Associates' (actual city name replaced with Dayton) and it appears on top of local area search results organically. Is re-naming worth the effort in this case for the good reasons stated above?
Adjusting sail midstream is easier said than done. But, when the situation become inevitable, the sail must be adjusted to be able to sail further. Renaming, actually, is rebranding. It's often a case when sales starts going south, and survival is at stake.
Yes, renaming always leaves an impact on brand equity and other parameters. It has to be planned and strategically defined to be able to achieve the objective. Revamp in a planned manner, test the taste,and transition seamlessly.
From creating a compelling story to triggering emotional reaction; from shift to return to roots to material impact on strategy et al, renaming requires some serious thinking.
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