Trends Report: The Name Game
by Sam Harrelson
Over the last year, there has
been a rash of companies of all sizes in the online direct
response world that have changed names for a variety of
reasons. From an attempt to better define what they do to an
attempt to evade a preconceived professional or public
image, these companies have attempted to change their name
to improve their business. What are the long term benefits
of a successful brand value in the online direct response
world? Is it better to stick with an old brand or create new
buzz and possible exposure with knowledge of how to monetize
brand usage and visibility?
Brand value is a hazy and confusing metric, for many in the
response/performance driven world of online marketing, to
come to grips with. Some companies have been able to use
branding quite successfully in their attempts to reach both
short and long term revenue goals while other companies have
fallen woefully short in this area and fail at monetizing
their brand name or image. Nevertheless, there is a
profitable medium for the average company in our space
looking to better define their respective ability, business
proposition, or core values. That medium is determined by a
formula that includes the companies already perceived
customer/business reputation balanced with said company's
need for long term viability. Determining this medium is
crucial and should play a big role in how a company decides
to brand itself and its image with a name.
Short term name changes and the utilization of lead conduits
for a company can be successful if done with the right
attention to detail and the metric of brand consideration.
This has been done repeatedly in the offline world as
conglomerate companies re-branded themselves to better
reflect their business models and capabilities.
As the name-game continues to evolve online, it will be
interesting to see if companies can find the happy medium in
the brand metric that will ensure long term profitability.
Sam Harrelson is the Co-Editor of the Digital
Moses Confidential. He can be reached at
sam@digitalmoses.com
