Can a Name Change Really Overhaul an Entire Business' Identity?

It doesn't take an expert to conclude that the cornerstone of a successful business is brand identity. However, no matter how successful and powerful a brand may have once been, sometimes changes are necessary in order to adapt to changes in demographics and consumer habits. Plenty of the world's biggest and most powerful companies have undergone brand overhauls in an attempt to alter their appeal, with some businesses doing so multiple times.

A business that remains static is usually one that is doomed to fail, while those that embrace change and seek to break into new audiences have the highest potential to thrive. Let's take a look at some businesses that have changed that most important brand signifier, their name, to determine whether such a move really is the brightest one to make.

Google

Best off to start with one of the most recognised brand names on the face of the planet. The search engine giant Google, owned by a parent company called Alphabet and now one of the most highly-valued and lucrative companies in the world, did not always go by the same name. The search engine launched with the name Backrub in 1996, before changing to its current name just a couple of years later. It's safe to say the founders must have done something right.

Tinder

The popular dating app Tinder once went by a different name, too. This one was more closely linked to the current name in terms of theme, with Matchbox essentially being the same thing as Tinder. The name change occurred just before the widespread success of the app, with the reason being that it was more catchy, and that it sounds more similar to dating apps that already enjoyed huge popularity such as Grindr and Hater.

Buzz Bingo

It's not just tech companies that believe in the potential of a name change. Buzz Bingo, one of the largest bingo companies in the country, recently underwent a complete brand overhaul which involved changing its name. The name change is in line with the company's attempts to appeal to a younger, trendier demographic, in a brand overhaul that has involved renovating some of their bingo halls and introducing hipster food menus to keep those coveted millennials coming.

Accenture

Even the financial sector isn't immune from the need to re-brand. Accenture PLC, a large accounting firm, changed their name from Andersen Consulting following a split from its parent company, Andersen Worldwide, which was the result of fallout from the Enron Scandal in the US. The philosophy behind the name change was explained by the CEO as an attempt to highlight their focus on the future, as they help their clients build a future for themselves.

While a name change is by no means a magical cure-all for an ailing business, it's clear from these examples that it is the most important strategic step that any rebranding company will ever make. All of these businesses have enjoyed their greatest success following the name change, which is certainly down to causation, rather than purely correlation.