Optus might be changing its name to 'Yes'

Sergio Dionisio / Getty Images

Optus is considering changing its name to “Yes” as part of the company’s big push to win more customers.

Fairfax is reporting that Australia’s second largest telco has been operating focus groups and market analysis to determine how its business would go if it adopted the name – and the results returned an overwhelmingly positive response.

The testing has been going on for the last 12 months, with Optus’ parent company Singtel looking to trademark monikers such as “Yes TV”, “Yes Crowd” and even the word “Yes” itself.

Changing the Optus brand to “Yes” has allegedly been on the cards for several years, with the telco already embracing a “culture of yes” internally.

However, despite this, Optus has since come out and said there is no plans to change its name.

If the move does go ahead, it will coincide with the brand’s big push to become move from more than telco to an entertainment company too. One big product will be the “Yes TV”, which will combine its broadcast rights to the English Premier League and the budget Foxtel competitor, Fetch TV.

However problems lie within the costs associated with changing the brand, as Singtel already wants to cut costs throughout its Australian arm and is considering slashing staff and closing low performing stores.

A major rebranding would cost tens of millions of dollars, from refitting stores to new advertising campaigns to raise consumer awareness.

Then of course there’s the problem of trademarking a word as commonly used as “Yes”.

There’s more at the AFR.

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.