strategic insurance & risk solutions
Strategic is a provider of professional risk and insurance advice to organisations with complex risk profiles requiring mitigation.
"... We walked into imageseven's boardroom and saw a wall of company logos - one of which was ours. We decided that we detested it instantly and that was living proof of why we should change our name."
Deciding to change a business name and brand after a decade of operation isn't a decision any business owner would take lightly. But prior to meeting with imageseven, Colin Smith, Managing Director of Melbourne-based risk and insurance advisers, Strategic, felt it was required to move the business forward.
"We established our business in 2000, so we had been operating for ten years and had reached a stage in our development where we felt that we needed to differentiate ourselves to some extent, but also look to better emphasise what we do," said Colin.
Listen to Strategic Insurance & Risk Solutions Managing Director, Colin Smith
Put simply, the brand was no longer serving the business.
So convinced that a change of business name was required, Strategic spent many hours exploring new business names and investigating the options available to them to implement a new name and brand. A timely visit to Perth to meet with imageseven was the catalyst for a change in thinking.
"We walked into a brainstorming session with the imageseven team and in essence what emerged was that we had a lot of our inherent value built up in the name Strategic - as part of Strategic Insurance & Risk Solutions - why would we want to lose that?
"The point that imageseven impressed on us was - don't lose the value you've built in the brand - capitalise on it. So it became a re-emphasis of the name rather than a complete move away from it, which I think was excellent advice."
The key insight that imageseven revealed was that Strategic wanted to signal a change to their market. Their intent was to invite the market to take another look at their business and the 'strategic' aspect of the service they deliver. A desire to signal change is a classic condition where imageseven's Visual Identity Program will create real, enduring business value.
Colin adds, "It was a great process. In fact, it was one of those situations where when you're taken out of your comfort zone and asked to re-evaluate why you're even here, it's challenging. But it's a great process because it makes you really think. You look outside the square. Most of us get so caught up in our day-to-day work that we just take brands for granted. So I think it's great that we came to the conclusion we needed to do something, but without imageseven's Visual Identity Program we wouldn't have got the right answer and that was really important to us."
A key outcome of the Visual Identity Program is the internal alignment it achieves for staff and stakeholders ... Strategic has already experienced the value of this firsthand.
"Firstly, simply launching the visual identity gave us the opportunity to talk to our clients and potential clients and express why the 'strategic' aspect of what we do and what we deliver is so important. It's a very powerful word, and it works very well for us. Being able to marry the word 'strategic' and the new logo with the new business model was a great way of launching and, if you like, re-inventing ourselves.
"Another positive change, with the support of imageseven, has been the update and re-launch of our website in a much more professional way. It now clearly communicates what we do and the services we offer. Our workforce particularly has appreciated this and are very proud of it, which is a great thing," said Colin.
Reflecting on the experience, Colin offers some advice to business owners who are dissatisfied with their visual identity or branding.
"My advice to anyone considering a change to their business name or visual identity is to put aside any prejudice or inclination you have for a word or a brand movement and be prepared to go through a discovery process with external advisers who can guide you through that process. The critical thing is that you have a need, which you feel the existing brand isn't currently meeting. You then need to open your mind to the fact that marketing communications and creating brands isn't your core business and draw on the skills of a team of people who have a process to help you drive to an outcome. That was the process that imageseven helped us with immensely.
"imageseven's process for getting you to think more broadly about the value your business offers and your own skill set is very powerful. The coaching aspect of it is immensely valuable."