THE POWER OF NAMES
Tags: Apple, Branding, Braun, Business, Namelab, Propel Water, The Cheesecake Factory
I can’t even remember how many instances in which a prospect shared with me, that the reason they called us… or selected our company to call from a list of our competitors… was sheerly because of our name. They just had to find out more about LOUD! Creative Group.
“I saw your company listed in the Houston Business Journal, and I had to find out more about the company with a name like LOUD! Creative Group.” said a recent prospect.
Why do Fortune 500 companies pay over $35,000 for a name? Because names make a company’s first impression. First impressions are crucial, and convey much of the little information about you that the prospects have.
Think about it for a moment… It’s not a gear shift… it’s a “Magnesium Paddle Shifter.” It’s not just water… it’s “Propel Fitness Water.” It’s not just a family diner… it’s “The Cheesecake Factory.” It’s not just an electric razor… it’s the “Braun Contour.” It’s not just hand soap… it’s “Tranquil Mint Aromatherapy.” It’s not just a personal computer… it’s a “Quad-Core Mac Pro.” Clearly I could go on and on, but I think you’re getting the point. Whether you’re naming your company, your organization, your service or your product… names matter.
In his book; “Selling The Invisible,” Harry Beckwith articulates this very well. He suggests that you put your name to the “Information Per Inch” test. How much valuable information per inch does your name imply?
A wonderfully named San Francisco based company perfectly illustrates the “Information Per Inch” principal. “NameLab”, a company that specializes in naming products. With lighting speed, NameLab’s name suggests the company takes a near scientific, analytical approach to developing names… something distinct in its industry.
Beyond that… the freshness and slight whimzy of the name also suggests the companys capacity for creative, right brain thinking. “NameLab” conveys a powerful double meaning to its prospects… with an excellent information per inch ratio…
Ask yourself… If you needed a name… Whom would you call first… Names Inc., The Name Company, or NameLab?
A week later… which comany’s name would you remember? Give every name you consider… the “Information Per Inch” test.
SHOOT FOR SPEED OVER QUALITY
Okay, I am not suggesting that quality isn’t important… but if you’re to compete in the marketplace of tomorrow, prioritize speed over quality. We’re living in a world where my family and I can pull up to a drive-thru window, and be driving away with a hearty full-course dinner for 5 in under 2 minutes.
I can walk into my bank tomorrow morning, and close on a $250,000 business loan before lunch.
I can order a $10,000 MacPro computer, an $1,800 30″ Cinema Display, and a $650 HP printer on Monday afternoon… and have a pile of boxes sitting on my doorstep by the following morning.
Shooting for “fast” simply isn’t good enough anymore. We’re living in a culture that more and more offers us instant gratification. People expect more, and expect it faster. The delivery of services is headed towards “real time.”
Shoot for speed over quality. Refine your business to cut your service delivery times in half… then in half again… then in half again.
APPLE VERSUS MICROSOFT: 3 CRITICAL QUALITIES OF A SUCCESSFUL BRAND
Tags: Apple, Army, Branding, Coca-Cola, Harry Beckwith, McDonalds, Microsoft
Every successful brand exhibits 3 critial qualities… direction, breadth and depth.
DIRECTION
Consumers tend to jump on bandwagons of successful brands heading up, and tend to leap off of failing brands heading down. What direction is your brand headed?
BREADTH
Coke Cola is the world’s “broadest” product brand, and McDonald’s and the United States Army are the two broadest service brands. Branding expert; Harry Beckwith, submits that the breadth of a brand is an enormous asset. It implies the service’s wide-spread acceptance and continuous satisfactory performance over the test of time.
DEPTH | APPLE & MICROSOFT
Harry shares the following illustration in his book, The Invisible Touch. On an airplane in route to Microsoft headquarters… a researcher surveyed the fellow passengers by asking the following question… “What do you think of when you think of Microsoft?” Almost everyone answered with the same associated response…
“1. Big, 2. Rich fellow (Bill Gates), and 3. Techies.”
These consistent definitions illustrated the weaknesses in Microsoft’s marketing arsenal. Their brand has no more than a neutral meaning. It has no depth.
On the other hand… the same passengers were asked the same question about Apple. Their answers were…
“1. Creative, 2. Fun, 3. User-friendly and 4. Pretty cool.”
Apple’s brand has exceptional depth, and a meaning that others aspire to. Apple might lack the “breadth” of Microsoft, but clearly has more “depth.”
IN DEVELOPING YOUR BRAND, ASK THE FOLLOWING QUESTIONS
1. What do you want your brand to represent?
2. What attractive and desirable qualities should your brand embody?
Once you’ve determined what your brand is to to represent to your clients and prospects… embed that meaning into everything your company or organization does… from the sign over the door, to your website, to your email and print marketing, to the person answering the phones, to the service and support your company offers.