ISIS, a digital wallet company, has made the decision to rebrand as a result of heavy news coverage on the Islamic State of Iraq and the Levant, a violent extremist group also known as ISIS that rose from the ashes of the al-Queda.
Rebranding is a very difficult task for any entity, but this is an example of a situation where it simply must be done. The negative connotations of the term ISIS in light of recent events is quite detrimental, whether it involves general confusion after first exposure or subconscious distrust from pure association. In addition, the situation severely affects search engine placement; hot topics in the news, especially that involve controversial military operations that are the latest developments in issues that have evolved over decades, are always going to place first in search results.
The matter is complicated even further when considering that ISIS exists in a brand new market segment—mobile wallets—that has yet to gain much of a foothold. In addition, within that small range ISIS is still overshadowed by Google Wallet, even though ISIS is a joint venture between AT&T (News - Alert), Verizon and T-Mobile with gratuitous investment. A brand that is still struggling to formulate its identity is a goner when sharing a name with such negative press.
ISIS executives say they have yet to come up with a new brand name, but are striving to ensure it is well thought out and not a frantic solution to a crisis. The company will also have to adjust its marketing strategy, as it is already criticized for its pricing levels, in order to thrive in the up-and-coming market segment.
Edited by Alisen Downey
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