How to Change Your Reputation: Can Changing Your Name Help? – Reputation Management Expert

Some companies change their names after a reputational crisis with hopes of refreshing their image. However, this is often an attempt to fix a damaged reputation, which requires more than just a name change. At a time when customer trust is notoriously low, this can often be the worst time to change names. Businesses should really be considering what has gone wrong and looking to show transparency and consistency in an attempt to regain the core customer base.

Toxicity travels across brands, and restoring the reputation of your damaged brand requires time, resource and dedication in order to regain consumer trust.

Damaged Reputation Crises

Every year, countless brands and individuals are hit by a serious blow to their reputation. A bad reputation can result from various factors, including negative behavior and the spreading of gossip, making it crucial to take responsibility to address it. Whether it’s from a misjudged business decision, a risk that didn’t pay off or just rotten luck, when something goes wrong it takes more than a name change to put things right.

If the intention of the name change is to start afresh, be aware that it’s impossible to hide previous names and business identities online, so the new brand will always have ties with its history. Potential customers, employers and marketers are always able to find out your details with a little research. Taking responsibility is crucial in the process of putting things right, as it involves admitting mistakes and demonstrating integrity to rebuild trust.

RBS changes to Williams & Glyn

Take the recent case with RBS changing to Williams & Glyn. It would be fair to say that the RBS marketers felt they had ‘run out of road’ and the name change in 2017 is a last resort for damage limitation. Effective corporate governance plays a crucial role in managing such reputational crises, ensuring that stakeholder expectations are met through transparent reporting and communication. However the move has been criticised for the time and money it has taken to make the switch, highlighting that expressed regret and accountability are essential in the process of damage limitation.

Rebranding and Reputation Management 

A simple name change is not classed as a rebrand but may form part of the new solution. If you’re looking to rebrand, you should consider the following:

• Is a name change essential? – Reputation will remain regardless of the name, and the change will only mask the larger problem. You’ll still need a rebrand following a reputational crisis, and this should be done with a clear marketing strategy so don’t haze your customers’ vision.
• See how it can be done successfully – International brands such as Perrier, BP, and McKinsey have all overcome near-terminal brand crises. In all three cases, an apology and acceptance of all wrongdoing was essential. It was several years before consumers were able to forgive and forget. Big brands typically take longer to bounce back, but it is possible regardless of the size of your company.
• Invest – You need to put every effort, pound, and minute into meticulous improvement in every aspect of the product-service spectrum. Rebranding is more than a name change; it’s a revamp from the very core to improve your corporate reputation.
  • Surround yourself with close friends who can provide honest feedback and support during the rebranding process.
  • Engage in community service to make a genuine impact, which can help rebuild your reputation and enhance networking opportunities.
• Communicate – Find proof that customers have welcomed the change and emphasise it with well-judged communications. Consider a refreshed visual identity to mark the transition and ensure transparency regains the trust of consumers.
  • Use body language effectively to convey authenticity and align your appearance, demeanor, and non-verbal cues with your true character.
  • Emphasize self-promotion by showcasing your work and engaging consistently on platforms like LinkedIn and Twitter to enhance visibility and reputation.

Take appropriate steps

Branding should always reflect the business as a whole and encompass company values and communication with customers as well as the products and services themselves. Maintaining a good reputation is vital as it influences perceptions among stakeholders and impacts career success. A name change alone will not fix a company reputation which is in tatters. Good reputations are crucial for organizations, inspiring trust, attracting better talent, fostering customer loyalty, and enhancing market value. Some companies have successfully recovered in recent times, notably Tesco following the horse meat scandal, as well as those who have not. Insider trading scandals, like Martha Stewart’s, highlight the severe negative repercussions on personal and professional lives. Take the appropriate steps for your business to recover from a reputational crisis.

Understanding what went wrong and why, active change, and communication of this are key to brand recovery after a reputational crisis. Key architects of reputation recovery, such as Bill Clinton, show how significant roles in overcoming personal reputation disasters can influence public perception. Is a name change the best way to communicate with your target market and come back stronger? Performance-enhancing drug scandals, like Lance Armstrong’s, illustrate the complex journey of apology and personal rebranding. Only if it is followed by some strong, core changes as part of an effective overarching strategy. The importance of personal brand in reputation recovery cannot be overstated, as it helps in trust restoration. Past mistakes should lead individuals to adopt new, more careful strategies in maintaining their reputations, doing things differently to ensure long-term success.

You can find out more by downloading Igniyte’s free Guide to Building Your Company Reputation Online or contacting me on tel: +44 (0) 203 542 8689 or email simon@igniyte.com. All enquiries are dealt with in confidence.