Today, MGM Mirage became MGM Resorts International. Seems like a minor adjustment, but it is important. Mirage, as a part of the name, was derived from the purchase of hotel/casinos from hotel developer Steve Wynn.
Now that it is some years down the road, the identity update simplifies the name, and further clarifies it. Adding the word, Resorts, denotes a style of property, above and beyond hotel. International signifies the worldwide presence of MGM.
Over time, what your business does, and where it does business may evolve. A photography company may add video. A DJ service may add lighting and props. A floral company may add balloon art and other decor.
The primary questions you should ask yourself are these:
- Does your business provide more services than the current business name reflects?
- Does your business name/logo employ a subtitle, as a clarifier, to state its range of services?
- Is the logo outdated from either a text or graphic standpoint?
Updating a logo or modifying a business name is an important step. It is a challenging process, as one needs to roll out the changes throughout print, web, and all other visual elements.
However, it is also a public relations opportunity to restate what your business does, and stands for, in the present tense.
We often think that customers and professional peers know everything that our business does. Typically, that is not correct. They tend to know, only what they hire us for. Doing a brand update is your opportunity to freshen your identity and reeducate your client base.
How do you answer those few questions?
Andy Ebon
The Wedding Marketing Authority
Good post today Andy and timely as I am working on slowly rolling out the updated logo reinforce on all levels, who Your Las Vegas Wedding Concierge and what it is I offer.
Hi Andy,
You’ve mentioned a few things in your post that I wanted to add a few thoughts to…
Re-branding is expensive and it has the potential to create significant confusion within the marketplace (even if it’s a subtle change). A very important thing that companies need to think about before developing their brand identity (name, logo, tagline) is how flexible do you need your name to be.
For example, today you might specialize in flowers, but you may have dreams of expanding into event design – using ‘Flowers’ in your name can limit your ability to sell yourself as anything other than a florist. Or you may start off as a local company, but have goals of being international – ensuring your name is unique and trademarkable internationally is critical; otherwise, you’ll be renaming your company. Knowing what you want to achieve at the start of the process can build in the flexibility you need in a name to ensure you don’t have reinvent the wheel a few years down the road.
Another consideration is whether you want your name to be evocative, descriptive or personality driven (there are many more naming options, but these tend to be the most popular). Evocative is a highly unique & ownable name that does not describe your product or service – example Orange Credit Cards. Descriptive is a name that is descriptive of your products or services – example Amazing Events.
These types of names are not unique or ownable but immediately tell your target what your business is about. Personality-drive names are built around a person – real or imaginary – example Aunt Jemima. Many business owners make the decision to build a brand around their name. A few years in, they want to expand their business and perhaps play a bit of golf, but clients want the name that’s on the door.
Also, many businesses build a visual identity based on what’s in style at that time (colours, icons, patterns, fonts). A good brand identity should feel timeless. Most brands need to refresh their identity every 5-10 years (depending on their industry) but this should be both subtle and infrequent.
Thanks for stimulating a good discussion!
Lara