Monkey Advice - 10 things to look for when naming a brand.

While browsing I found this interesting piece of advice courtesy of a hundred monkeys, a company specializing in naming brands. (www.ahundredmonkeys.com) I think their advice is very relevant considering all sorts of names we encounter in the media. It is such a pity to notice that most dotcom companies too have very boring or techie names that are hard to remember unless every site visitor says it out loud, a 100 times over!

Besides capturing the realities of naming, I like their advice for two other reasons;

The advice itself is well crafted, directly attacking the competition.

They seem to practice what they preach. ( a 100 monkeys ?)

I can’t agree more with 1 & 10!

Top ten things to look for in a naming company:

1. A pulse. Why do naming companies strap themselves into a straitjacket with terminally boring names like Namestormers and Nametrade and Namix?

2. Ability to get to the heart of the matter. It's important to keep digging until you get to the important stuff.

3. A nose for names. Naming companies that come up with names like Innova and Centrobe and Thrivent are barking up the wrong tree.

4. Aware of the importance of mystery. It is often, though not always, the case that the more descriptive the name, the more boring and ordinary it is, too.

5. A knack for coming up with names that are provocative and human. Most naming companies believe that all of the good names are already taken.

6. Can read and understand a bus schedule. Many consultants like to make things very complicated. Naming isn't easy, but it's certainly not an arcane science.

7. Understands where marketing and strategy fit into the picture. Linguistics is overplayed in the naming business. It¹s about the marketing, stupid.

8. Adept at reframing reality. The right name will help your audience take the imaginative leap. Sometimes all they need is a little help.

9. Doesn't pull any punches. A bad idea is a bad idea. A lousy name is a lousy name. We¹re always nice but we¹re always honest.

10. No evidence of terminal blandness. Marketing is not about risk avoidance. The biggest crime in marketing is to bore people to death.

Go Getter (Contd)

Finally I met Gihan.

He took me thru a part of their corporate presentation which focused on “Go-Getter”. My guess was absolutely right, not only were they doing something right; they had bigger plans for expansion. When he said “we are considering “Go- Getter” as a place and not a mere convenience store” I was intrigued to find out how a mini super market, with their limited space would adapt this concept from traditional super markets.

He explained the reasons for diversification; the group’s main businesses were all based on credit and it was important to get in to a business that would be cash driven. Clearly they would not put all their eggs in one basket. The group also had devised a strategy, leveraging their software automation skills in to “Go-Getter” which will offer more shopper benefits in future for example, they want to integrate IPVPN to ensure more effective stock keeping to avoid customer disappointments. Once the system is fully operational E-channeling, Courier pick ups, utility bill payments and a host of other value added services will be offered to the public.

What looked like a spin off of “Seven Eleven” had more to offer. The concept of a neighborhood mini mart had been greatly customized to local culture. “That’s why we started selling loose rice and other essential items” explained Gihan, “if you notice some people still have the habit of biting a few grains of rice before the purchase to assure quality” However he believes these old habits will fade with upgrading living standards, especially among the new generation of shoppers. They also plan to market precooked nutritious meals for singles and young couples who are juggling with multiple roles and have far less time for cooking. In fact this has been their thinking behind the Brand name positioning it to the next generation of shoppers who will patronize their mini mart in between their weekly visits to the super market.

I wished they had thought more about their naming strategy as the name could have been used more effectively to offer more value to all stakeholders concerned especially to shoppers.

Let me also shed some light on the super market business in Sri Lanka; Among 350 modern trade outlets approximately 230 fall under the category of super markets, lead by Cargills with 100+ outlets (including their version of mini marts) followed by Keells nearing 30 outlets. 60% of super market revenue comes from food related items and approximately 30% revenue from sale of fresh items. Non-food category is recording a growth of 20% year on year. Gender split is almost 50-50 which could be challenging for super markets as males and females have distinct shopping habits for example male shoppers give more prominence to availability of products intended to purchase, ease of parking and quick check out while more females tend to value the assistance of sales personnel. Sales associate’s knowledge on options in the store and ability to recommend products were more important for them where as for male shoppers it was directly linked to their interest in finding the product they want. ¾ of shoppers go well planned making a list of brands, products, quantities to purchase and approximately 45% tend to shop alone while the balance 55% with another family member.

Although there are many new developments in this category we are yet to witness innovative promotions and in store branding.

Pictures: www.dpjh.com, www.cargillsceylon.com, Google Images

Naming follower brands..

After my first post, I told one of my friends about my new venture and her immediate reaction was "why on earth are you calling yourself "SilentDog?" I kept thinking about it..

It was working my head even while I was asleep, and then I was inspired to write some thoughts on Naming Brands, after all introductions are really critical in the world of business. This article is exclusively for follower brands...hear me..

“When you are a late entrant to the category you need to make some bold decisions. Followers rarely get a second chance to make it.”

Have you ever thought about the importance of introductions? For example introducing a speaker to an audience on a commercial scale, by the time the introduction is given on the speaker’s credentials a good part of audience has already decided the outcome of the speech they are about to hear.

Let’s take another possibility, if you happen to be at a stadium surrounded by thousands of wacko looking people and if you hear “please welcome the most famous miserable man who tried to become a woman-alike and now has to fix his nose every two weeks” you know you gotta run.

When you enter for the first time, at least one or two players have already entered the market. (this post is strictly for follower brands) Therefore your entry may be insignificant unless you are introducing a breakthrough product concept. The job of a Brander can be indeed a challenging one, when you have to market an awfully similar product with lesser resources to a greater extent the success will depend on the manner your brand is introduced to your audience. Follower brands cannot afford to fail or make shaky starts they need to make an impact and establish themselves quickly. Hence your introduction will be the most critical challenge in your brand development process.

The brand name plays a critical role in this introduction process. Conventional wisdom suggests naming your brand is the most important strategic decision you will have to make. There is no argument on this; however follower brands need to differ when it comes to naming techniques.

When all things are equal (just about in every category) you must break category conventions. Brands rarely explore this option; instead they are religious about observing them. A common misconception is that you have to observe these conventions to exist in the category. Little do people realize that it’s a trap set by existing players for their benefit. Always remember category dynamics generally favor leading brands.

This is common to marketing rule books as well. That’s why you are branded as a ‘follower’ When you are defined as a follower it is unlikely that you will not want to follow the rules! If you are a late entrant the best way to make an impact is to look for potential conventions and break a few. Trick here is not to break all conventions but a few powerful ones. And if, naming your brand is the most important strategic decision you ever make, it also becomes a powerful convention to break.

Even today it is common to find “attribute ownership” in categories, mostly adopted by leaders and challengers. Jack Trout the infamous marketing Guru in his book “Differentiate or Die” suggests attribute ownership as a powerful way to differentiate a brand. In my opinion “Attribute ownership” is a dangerous game for anyone, especially for followers because attributes lose value as markets evolve.

A simple e.g. If you own speed in a particular service, technology can make you irrelevant by offering speed to every player in the category. When the meaning of ‘speed’ itself is speedily changing you know it’s a short term attribute to own. Besides in our case all good attributes are already taken by existing players.

When naming brands people always ask the right question; “how can I come up with a relevant name?” Instead try asking the wrong one; “how can I come up with an irrelevant name?” Because if you look at the existing players it’s very likely they will have ‘relevant’ names. An irrelevant but amusing name could get you more attention and emotional appeal. It’s also a good strategy to break an existing norm.

Another good reason to break away from conventional naming technique is it becomes easy to evolve with times. In today’s context the market dynamics keep changing and with an irrelevant name it becomes easy to adopt.

Have you heard of ‘Dead Frog’ beer or an internet bank who call themselves ‘Egg”?

Dead frog had a very serious name and was not getting anywhere until the company renamed it as “Dead Frog” You would never associate the word “Dead” with F&B stuff. A “Frog”? the last thing you wanna gulp down. (unless you are Chinese of coz) But the brand owners thought differently and were able to reverse their fortunes.

Egg, (part of Prudential) the first internet bank in the UK thought of breaking rules from the inception. Most financial companies have uninspiring brand names. Finance is serious business and it is a convention to have a name to represent this notion. However ‘Egg’ had to make a compelling difference for two major reasons;

1. They were entering a new category and wanted communicate new possibilities & benefits to consumers.
2. A way to differentiate from established banks as they were also offering bits and pieces of internet banking

Many people believe that financial services industry is driven by trust and stability, hence a serious brand name. The name ‘Egg’ does not carry this heaviness and as a result was able to create more consumer desirability. Egg’s success was assured as the management started from the very beginning – the name to star with!