Changing Your
Answering Service's Name
By Darlene Campbell
Many answering service owners consider changing the name of
their company from time to time. Changing your name sounds exciting,
providing an opportunity to play in the strategic branding arena and
escape the day-to-day concerns of staffing and hold times. However, it
can be a costly and a dangerous minefield if not planned well and
executed with precision. A few years ago, I changed the name of my
business from Metro Message Services to Information Communications
Group. Here is how we proceeded and what we learned:
Why We Changed Our Name:
I increasingly found myself saying to prospects, “I am not just a
message center.” This had become necessary as I positioned the
multifunctional capabilities and capacities of my business to executives
and board members of my new target prospects beyond the medical
community. It became evident that this target population of decision
makers had a preestablished definition of my business based on its
former name, Metro Message Services Inc. Since our inception, we
evolved from:
-
Being locally
focused to an international and multilingual focus
-
Being labor
intensive to becoming Web-enabled and highly automated
-
Being internally
focused to seeking alliance partners
-
Being segment
specific to strategically seeking diversity
With continually strained margins in the traditional live
medical answering service arena, we had grown to a level where a
significant percentage of revenue began to come from other sources.
These segments have expectations beyond that of the local medical
community. We looked to find a way to be service sensitive to our roots
but yet present an image that met the expectation of the growth markets
of Fortune 1000 companies and notable nonprofits. Central in this
discussion was a complete costing of the name change and a projection of
the lift in targeted relationships we would need to pay it back in
twelve months.
Planning:
Our first discussions about name change began when we completed a
strategic review of the business. At minimum, a twelve-month planning
process is recommended, as the name change in and of itself is the major
component of an annual marketing plan.
In our case, it was a two-year process. In the first year,
we developed and implanted the products, technologies, and resources
necessary to be what we want to be. During the second year we
incorporated the name change into our annual marketing plan:
-
Staging and
coordinating annual media placements like Yellow Pages
-
Lowering the
emphasis of “brand” and reducing media expenditures in advance of
the name change
-
Running off
inventory of all brand supporting collateral material
Measuring Success:
The simple response to this subject is the return on investment (ROI).
We knew what our costs for the name change were. A careful tracking of
new business over the ensuing thirty-six months would allow us to
measure our success and track the ROI. Our definition of success was
growth in the business segments we have targeted. Beyond that, we
became more sensitive to listening to the market and our prospects.
Picking a Name:
We wanted a name that:
We did not deploy an external focus group but opted
instead for a focus group of our constituencies: employees, customers,
vendors, and industry experts. The synthesis of this effort was the
realization that we generically deal with two subjects: information and
communication. From there, Information Communication Group was
formed.
What We Learned:
We learned many valuable lessons along the way. Here are our
recommendations for anyone considering changing the name of their
answering service:
-
Anticipate heavy marketing expenditure
in year one of the
name change. It makes no sense to go through the effort and not
tell anyone. Additionally, you will have to consider “transition
promotions” as you may reference your old identity in selected
media. Do not assume that your clients or market saw your letter or
ad announcing the change.
-
Do not become consumed in the graphic design
elements of the
name. Seek professional counsel here. Every little decision, such
as the number and type of colors in your logo, can have major
financial implications over time.
-
Develop a complete communication matrix
for the name
change. Provide at least two direct communications with each
constituent group (client, vendor, intermediary, and so forth).
-
Consider a public relations agency
to support your
program. We can all prepare media kits, but securing placement is
their expertise.
-
Do an inventory of every item with your logo on it
to work
towards updating, consolidating, and eliminating every possible form
and document you can. This can be a surprise cost-benefit of the
program.
-
Check with governing agencies
for possible duplication, and register your new name with the help
of legal counsel. Also, check that an appropriate Web address is
available and secure it.
-
Determine the balance of expenditure
between Web site
redesign and the investment in new paper and trade show marketing
material. A new name and look means a new Web site.
Several years after our name change, we at Information
Communications Group are delighted with the overall experience of the
name change. We received feedback from our clients that was above our
expectations. It gave our employees a lift, and our promotional
initiatives have born much fruit.
Changing your answering service’s name is not a task to be
entered into lightly, but with creative thought, careful planning, and
meticulous execution, the results can be well worth the effort – it has
been for us!
Darlene
Campbell is owner of Information Communications Group.
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