Name That Firm: What Should You Call Your Business?

We're in the midst of trying to come up with a name for a boutique product licensing/distribution firm that started out specializing in licensing and manufacturing rights to innovative/disruptive technology products, and has since grown to the point where we have multiple products under our umbrella; extending across environmentally- friendly consumer goods, health care products, eco-friendly cleaning products for commercial application, food, and some technology widgets.

At the moment, the firm has a next generation, alcohol-free hand sanitizer product line, a lubricant made from mineral oil that is Green Seal certified and best described as the eco-friendly alternative to WD 40 (making it a great product for both the consumer and commerical marketplace), and some food products that are Fair Trade certified. We also continue to look at software and hardware products.

My partners and I have been trying to come up with a moniker (which is currently Mata Global Solutions) to a name that will resonate i.e.--encompass the unique nature of products that we are licensing/distributing, can perhaps be universally applied to the products we are licensing (a tough one considering the breadth of products), and can be easily incorporated into a URL for optimal search engine strategies.

Today's WSJ profile "Name That Firm" is a solid primer do's and don't(s) when it comes to putting up a marquee for a business.

Here are good excerpts from the WSJ article:

FIND THE UNIQUE

The first step is usually pinpointing the company's unique value or service. Companies should ask themselves, "What are you doing to bring value to potential customers and what's your vision?" says Scott Kuehl, president of BrandResolve LLC, a St. Cloud, Minn., brand-consulting firm.

BUT DON'T BE OBSCURE

AVOID THE MUNDANE

Indeed, companies trying to create a unique brand sometimes err by choosing a name that describes too closely what they do. "When a company tries to describe its services, it usually makes the company sound generic," says Mr. Montoya. The names of many successful companies don't describe what they do, he says.

Josh Robbins of Geckotech.

Names that describe a company also require a greater investment to promote the name in the marketplace, says Steven Winokur, CEO and founder of Turning Point Strategies, an Atlanta-based branding consultancy. "The only way I know how to do that is through repetition," he says. "You have to get people to see it many times."

GET REACTIONS

The best way to gauge the effectiveness of a small-business name is to find out how it resonates with people outside the company. It's an "ask people" question, says BrandResolve's Mr. Kuehl.

If people respond using phrases that echo the company's mission, that's good, he says. A catering company whose goal is to create irresistible, sinfully delicious food, for example, would know a name was right if people said it made them think of food that is "wicked good" or "devilishly tasty," he says.

Mr. Montoya says that people also should find a name memorable and easy to look up, either in phone listings or on the Web. The easier a name is to remember, the more it will benefit from referrals, he says. Similarly, a name that's hard to spell makes a company hard to find.

David Placek, president and founder of Lexicon Branding Inc. in Sausalito, Calif., notes: "You want to make people think a little bit -- not a lot. But if we don't make them think at all, they will walk past."

DOMAIN DO'S AND DON'TS

Check on the availability of a domain name, as Pacific Biosciences did, before making a final decision. An Internet domain name should be closely related to the company's name and make sense to users, says Mr. Winokur

Mr. Placek, however, cautions against sacrificing an effective name if the domain isn't available. He notes that many people surfing the Web don't look for corporate Web sites by remembering a domain name. Instead, he says, they type the company's name into Google, and then click on a link that is listed.

"Companies shouldn't sacrifice memorability and creativity [in a name] just to have a URL," he says.

Spitzer: A Marketing/Communications Classic

Eliot Spitzer. Former NY Attorney General turned politician (actually one and the same) . Qualities: Self righteous, sanctimonious, zealot, narcissist...and now a self-confessed criminal.

This is a guy that proclaimed to stand at the top of mountain in terms of ethics and morality, spending the last decade prosecuting, extorting and bullying anyone he felt like like, regardless of whether he had evidence of a crime, in order to advance his career--financed in part by his wealthy family.

Resigning in disgrace is great, what should happen is that he be prosecuted (pick a crime: abuse of office, fraud, using taxpayer money to commit a crime (hey, he's on the govt payroll, and no doubt that its a crime in the State of New York to procure sex for money--and if he paid, then we can assume that it was government money that hey paid with).

And of course, he should be sentenced to whatever the maximum jail is for the crimes he'll hopefully be charged and convicted of. US Attorneys investigating the case are no doubt going to be politically influenced by those that will dangle carrots in front of their face. Prosecuting Spitzer for violation of the Mann Act would be poetic justice.

And yes, its heart breaking to his wife and daughters. But Eliot wannabee Ness broke more hearts and families under the guise of ill-conceived prosecutions--without any concern or care for what the impact might be on innocent family members.

First came SpotRunner-Now Comes TalkMarket

Last summer we told you about SpotRunner--a "create your own TV commercial' platform targeting small businesses that have limited budgets. It was and remains a brilliant idea--and it includes a module for advertisers to use SpotRunner templates for creating a 30-second spot, and to place those spots on local and cable TV. Instead of spending tens of thousands to create the commercial, and thousands more for placement time, SpotRunner is a turnkey solution that can cost an advertiser as little as $3000 to reach wide audiences.

Now comes The Talk Market--billed as the "QVC for the Masses". Instead of provid9ing templates for videomercials as SpotRunner does, advertisers can jump on the YouTube style approach by creating their own spot, then uploading it the Talk Market platform. TalkMarket's business model is based on 5% commission on sales (mapped to clicking on a link imbedded in the commercial).

Brilliant--we wish you lots of success!

Say it Ain't So! Video Doomed in the Workplace

As reported by the WSJ this week, it appears that web-centric video-based applications within the workplace, which I've been rooting for since before they became ubiquitous, is now destined to be doomed.

Apparently, video email and video presentations, the apps that I've been championing, have been overshadowed by office workers logging on and surfing the net to consume entertainment and other video content completely unrelated to work. This type of activity has overwhelmed IT networks, impacted worker productivity, and imposing a massive cost increase to business, as internet connectivity is priced to companies based on bandwith usage.

As a result, corporations across the spectrum are now banning employees from downloading the type of content that has made Google's YouTube.com and News Corp's MySpace so rich in advertising revenue. Oops.

Lightbulb of An Idea: Its About The Packaging, Not The Product, Stupid!

Courtesy of last week's NY Times
Proving once again that retailers, marketers and manufacturers recognize that its all about the packaging--especially in mass merchandising. Getting onto a shelf is relatively easy, but having a beacon on your package will hopefully get the consumer's eyeball magnetized to it.

Getting consumers to buy products with gimmicky packaging is another thing. Especially when creating the packaging has a big negative impact i.e. 'environmentally friendly". A package that "shouts" or in this case, illuminates using battery-operated technology ain't so e-friendly. And obviously the fancy packaging is what you're paying for, the deodarant costs a few pennies to make and stuff into the dispenser.
A+ To NXT for a fun idea!. C for being e-friendly, and D for your investors believing this will make NXT an unforgettable brand within the minds of the consumers. Unless of course, you keep inventing other fad-based packaging and other fun stunts before the battery runs out

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March 4, 2008

Advertising

A Package That Lights Up the Shelf

By ANDREW ADAM NEWMAN

ABOUT a year ago, when Jamie Leventhal was trying to convince big chain stores to stock his new line of shaving gels for young men, a buyer for Target asked a crucial question: How much would he spend on advertising?

“I told him we would not spend a single dollar,” Mr. Leventhal said.

The buyer was stunned until Mr. Leventhal pulled a prototype out of his briefcase. The product, called NXT, is sold in an arresting triangular container that lights up from the bottom, illuminating air bubbles suspended in the clear gel. The plastic is tinted blue, and when the AAA batteries in its base are lighted, the whole thing looks like a miniature lava lamp or a tiny fishless aquarium.

The novelty of the light-up container worked, and NXT shaving gel — as well as its after-shave and face wash, similarly packaged — will hit the shelves at Target this month. It will also arrive at other retailers like Wal-Mart, CVS, Duane Reade, Winn-Dixie and Fred Meyer.

To call attention to themselves, the products, which are aimed at 18- to 24-year-old men, will glow on the shelves, inviting customers to pick them up. Every 15 seconds, a light-emitting diode (LED) in the bottom of the container flares on, stays lighted for a few seconds, then fades out.

Comic Books: Leveraging The Success of Graphic Novels within a Marketing Message

Last year, after noting a bulging trend out of Japan, we pontificated that "comic book-style" messaging would proliferate into mainstream marketing and assorted publications, including How-To books and mags.

Last week BusinessWeek Magazine re-affirmed that notion ""Graphic books on bsuiness are already a hit in Japan. With Johnny Bunko, the genre heads for the U.S..."

Why is this trend gaining traction? Pretty simple, really. We're inundated with txt msgs, overloaded with blackberry correspondences, and overwhelmed with email. Our eyeballs are looking at millions of alpha, symbol, and numeric characters, and for many, elevating premature ADD.

Putting a message within a visually appealing and easy to connect with format is a concept that started with the caveman. Expect to see lots more series-based messaging delivered within graphic novel aka comic book elements.

Retailers Perplexed :Branded Products Vs. Private Label

Guru marketers in the corner offices of major retailers continue to throw darts when it comes to merchandising private label vs. branded products.

Maybe everyone should take a hint from today's WSJ profile of Cott Corp--the private label soda manufacturer whose shares are falling flat--much in part because Wal-Mart has determined that its customers are more interested in branded products vs. the Sam's label.

We all know that manufacturers have been hammered over the past several years as retailers seek to introduce lower cost, higher margin goods. Private labeling necessarily accomplishes that goal, especially when faced with declining revenue from slotting fees that are part and parcel to many chain store business models.

But a funny thing seems to be happening on the way to the checkout counter--other than the most rudimentary staple items (i.e. napkins, nails, or the most highly commoditized), consumers still cherish a branded product--and the lower priced "house brands" within the food, beverage, personal care categories are simply not appealing, even to the most price sensitive shoppers.

Marcomm 201: Its All About The Customer

Stellar observation from JEFFREY FOX of Fox And Company:
Too many companies that sell directly to consumers think marketing is advertising. Too many business-to-business sellers think marketing is trade shows and literature. Marketing involves the profitable identification, attraction, getting, and then keeping of the most highly desired customers. It is the heart and lungs for every organization. Without customers, members, patients, parishioners, donors, the organization will die. Every single function, every single job, in every single organization must, directly or indirectly, today or tomorrow, be laser-beamed on the getting and keeping of customers. Every single job in every business must be a marketing job. Every single job must be tied to profitable revenue- without exception. If someone does not know how his or her job gets or keeps customers then, that person is either ill-managed, ill-trained, or, as the Europeans say, redundant

1800 Flowers-Redeeming Response

Lo and behold--within 24 hours of my e-venting my frustration via email to senior execs at 1800 flowers for a total breakdown in customer service in connection with a special delivery for my 21 year old daughter's birthday--I received a personal call from Monica Woo, the President of the company's consumer floral division.

Not only did Ms. Woo express her apologies and acknowledgement that the company's system had failed to meet their standards during the most important week of the year--she insisted on sending both my wife and daughter a bouquet--both of which arrived exactly when she said they would.

Thank you, Monica!-You've re-affirmed my belief that the best executive leaders are those that focus on every customer complaint. I'll look forward to renewing my relationship accordingly!

Its ALL about Customer Service! Don't You Understand That Yet??

Thank G-d that BusinessWeek is keeping its eye on the ball and keeping a scorecard about the absolute most important element to any business--start-up, turnaround or the grey, old battleships--CUSTOMER SERVICE.

It befuddles the mind when reading business plans for start-ups that fail to include a line item expense for customer service, and enrages the intellect when being subjected to the absolute worst customer service from companies that are purportedly brand leaders. Telecoms and high tech have been infamous for failing to appreciate that they have an obligation to deal with customer complaints--and many, even Dell, have recognized the error of their ways.

Although many figured it out after they lost their customers--and subsequently, the keys to the executive washroom (and all of the other keys to the building), there is actually a universe of corporate managers that understand that customer experience, satisfaction and loyalty are the lifeblood of any business.

Unfortunately, based on personal experience, I don't think that 1800Flowers falls into the category of "we get it"--and if you believe Warren Buffet when he suggests that poor customer service is a tell tale sign of a poorly run company, then 1800Flowers' revolving door of senior execs says something about the company's board of directors.

On Feb 10, my wife placed an order via the 1800Flowers call center--flowers to be delivered on Feb 13 to our only child ( daughter) in honor of her 21'st birthday. When it was obvious the flowers hadn't been received by 7pm on the 13th--we phoned 1800 flowers to discover the phone lines were overwhlemed, and no matter how we attempted to naviagate, we kept encountering insturctions ot leave a voice message. Then we tried submitting a complaint by email--and received an auto reply that our inquiry would be addressed within 24 hours--which by then would be almost a full day after the birthday presented was suppposed to be delivered--and five days after it was ordered.. We tried phoning on the 14th, but what a surprise, the automated answering system indicated they were not accepting any calls--as they were overwhelmed. We tried calling on the 15th---same thing--no matter how much we tried to speak to a human--all ports were blocked.

Finally on the 16th--6 days after the order was placed and 3 days after the birthday--we were able to connect to a live customer service representative--who explained the reason the flowers were never delivered was because "the local vendor they had designated was too busy." The customer service rep believed that was a reasonable explanation and when asked if thought it would be a good idea for 1800flowers to find another local vendor--as opposed to simply dropping the entire thing--without bothering to call us, he therwsie said''hey, this was our busiest week of the year--so I'm sure you can understand..."

What I understood is that the customer service rep could have the stupidiest person ever put on a customer service line--and when he offered to provide a 20% discount card on the next purchase, I became convinced he was from another planet (or a former customer service rep from Dell).

When I asked " Why in thew world would I ever purchase anything from your company again when they failed so miserably on this purchase, and made absolutely no effort to resolve the problem, and had absolutely no customer service available for 4 days...??".. The customer service guy had no response--and when we asked to speak with a supervisor, we were told that none were available, and "it wouldn't be any better--but we could still have the 20% discount on the next purchase. " I politely suggested that I'd never use 1800flowers again (I' probably used them 1-2x a year for the past 10 years)--and under no circumstances did I want him sending us any solicitations.

What a surprise that the following week, I received a form letter apologizing for our not being satisfied, along with a 20% discount offering on my next purchase.

What should have happened: the customer service rep should have been trained to understand english and customer frustration. Who in their right mind is going to be appeased with a "sorry--here's 20% discount discount card when a special flower arrangement for their only child's 21'st birthday is bungled so completely??....

What he should have done was immediately offer a free something--as in "can we send your daughter a bouquet right now?--or can we not only credit you, but can we keep an additional credit available for the next time you'd like to send flowers to anyone anywhere?" Not a measely discount on a purchase--and he made zero effort to keep me as a satisfied customer--or to prevent the situation from turning ugly-which I clearly forewarned him about: -includingthe liklihood of my lamenting on a blog that's read by hundreds of media and marketing industry execs--and emailing everyone in my family and universe of friends that they should never do business with 1800flowers.

OK--the birthday was the day before Valentines Day--the biggest flower day of the year (or is it Mother's Day?)--And shit happens. But to have no customer telephone support for 3 straight days--and to have voice recordings that suggest that if you leave a message, someone will get back to you within the next day is lunacy. On the biggest day of the year, a smart company would OVERSTAFF with customer support to make sure those customers come back for next year's busieest day of the year. This isn't rocket science .

Jim McCann--I hope you're reading this--because I doubt anyone on your staff really cares.