UKNM: 'Wacky Names'

[Tsugumi Anai]

Building a brand both online and offline is not just about the name. The

brand conveys a message about a business. A strong brand can be built around

either a wacky or a conservative name providing it has values and attributes

that appeal to the target audience, and providing it delivers on its

'promise'. If the brand is strong and well managed, no matter what the name,

it will remain. Brands that are household names now, such as Apple, Virgin

or even Orange, were considered wacky in their time. And those are offline

brands to boot! The thing to remember about many online brands, even those

in the financial sector, is that they are new businesses in their own right.

Egg is not the online version of the Prudential (try www.pru.co.uk

<http://www.pru.co.uk> for that). These new brands have a separate identity

because they are targeted at a different demographic to their offline

parents - the online audience tends to be younger, more technically aware

and in a higher income/education bracket to the general public. Many banks

are also offering more than one online service (Halifax has esure as well as

IF), presumably targeted at different segments and markets, in which case a

distinct identity helps. Creating a new brand is certainly not a cheap and

easy option for banks - it is a strategic decision that requires significant

investment in marketing and brand building. I would also add that some of

the on-line brand strategies are rather short-term.  Egg for example,

despite the 'individual money matters' strapline, has led on price with all

its product offerings. The 'individualised' element appears forgotten

throughout the site. This suggests that it will have "bought" customers,

rather than built loyal relationships. Ultimately, the value of the brand is

being diluted by inconsistent communications and price based offerings.



Tsugumi Anai

Senior Brand Strategy Consultant

red | hot | chilli

t:  +44 (0) 20 7614 8600

f:  +44 (0) 20 7614 8601

e:

tanairedhotchilli [dot] com

www.redhotchilli.com



~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 the UK's totally managed affiliate marketing solution.

 ukaffiliates.com >> the net.working

 http://www.ukaffiliates.com /

salesukaffiliates [dot] com (mailto:salesukaffiliates [dot] com)

 telephone: 020 7691 1880 / fax: 020 7691 1881

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

  To unsubscribe or change your list settings go to

http://www.chinwag.com/uk-netmarketing or

helpchinwag [dot] com