When it comes to rebranding, the name you choose for your company can be just as important as the services you offer.
In 2022, the well-established company Anthem Inc, with 78 years of history, made the decision to rebrand and become Elevance Health. The process of rebranding can be a daunting task for any company, but for Elevance Health, the decision to change their name was driven by the need to better align with their core values and mission.
Elevance Health CMO Bill Beck shares insights from their own experience of rebranding and how the right name can make all the difference.
We had to decide: What are the most important things we want people to understand when we introduce our new name? The challenge was to find a word that reflected our transformation from a health benefits provider to a lifetime health partner whose nearly 100,000 associates are devoted to helping consumers, families, and communities access the support they need to lead healthier lives.
The new name, Elevance, is derived from the words “elevate” and “excellence”, representing the company’s commitment to helping clients achieve their goals and reach new heights. A good brand name should be easy to pronounce, memorable, and have a positive connotation. It should also be unique and easily distinguishable from competitors. In the case of Elevance Health, the new name not only met these criteria, but it also reflected their core values and message to their target audience.
The process of rebranding, however, is not just about the name change. It also involves updating the company’s visual identity, website, and marketing materials. For Elevance Health, the rebranding process was a holistic approach that involved the entire team, and it was critical to ensure that the new branding was consistent across all touchpoints. The company made a strategic investment in securing the exact brand match domain name ElevanceHealth.com, allowing them to maximize their marketing efforts and strengthen their online presence
In today’s competitive market, a strong and memorable brand is more important than ever, and a well-chosen name can make all the difference in reaching and engaging with your target audience. Elevance Health has demonstrated that, when done correctly, rebranding can have a positive impact on a company’s growth and success, allowing it to better connect with its target audience and stand out in the industry.
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