Financial industry – B2B….Our product series is a year old & is building brand equity. We are consolidating the series from 5 products to 3 as a means to better organize them based on how clients use them. Therefore, the product brand is not changing but the individual names are due to this reorganization. Do I move forward with a campaign message that includes the old product names or move towards the revitalize names sans explanation and focus on the benefits of the consolidation?
It seems simpler to exclude the mentioning of the old names and focus on the brand & the simplification of the reorganization to focus on the new product names.
Jay’s Answer: Do your clients care about your reorganization? If so, then explain the rationale and educate on the renaming’s strategy. If not, then simply phase in the new name (version “2”), explaining the consolidation from a product/pricing perspective.