When a company is considering changing its name or logo, all too often it’s because leadership is simply tired of what they see as the “same old, same old.” However, that “same old” name or logo may carry more weight than you’d expect.

Before throwing your brand out with the bath water, do some research.

Audit your brand equity. Find out what your brand means to your target market. You may discover that your audience feels an authentic connection with your brand that you’d risk losing by adopting an all-new name or brand personality.

Take a look at the competition and find a point of differentiation that will make you stand out from the crowd. Perhaps there’s something you already offer that can be enhanced. There’s often no need to start from scratch – you can take the strengths you have and build them up to become a more relevant, more powerful brand.