Without significant recognition, you will need value as brilliant, disruptive, and explosive as beloved Apple, or your naming strategy has a big job.
In my estimation, a fantasy name styling, like the recently announced Mirasee name for digital marketer Firepole Marketing, only works in one of two situations. Don’t panic though, because Danny Iny seems to have the Midas touch.
Surely, there was a naming strategy utilized before this major renaming/rebranding move. Hmmm.
That makes me wonder if a business naming strategy is something everyone considers? Doubtful.
Finding Nemo, oops…I mean a Name
First, let’s consider some things and take a closer look.
Danny Iny and the Firepole (Marketing) Team’s big reveal of their new name was received, like most things, with a mix of positive and negative reviews. But, by its (own) transparency, Mirasee offers two-way interaction in their core beliefs and so, remains open to keeping the conversation going.
Tweets reveal that some think the name makes no sense at all without reading and watching Danny’s explanation email or video. Others don’t care what he calls himself. They just hope he keeps up the good learning opportunities they are experiencing.
While others mention the new name gives them no clue as to what his company is all about, or how it relates to his services. They all have a point, maybe.
In the meantime, the company team invites feedback and interaction by its community and anyone, really. (But is it really too late once announced?)
Of course, that’s one of the reasons Danny’s “beacons” (now reflections?) will support him through to success. He has a large and faithful following of subscribers. At last count, 60,000, with plans to scale up considerably.
(A billion in sales! Wow? Am I dreaming or can he actually pull it off?)
The introduction email sent from Danny Iny explains the new name/tagline and rebranding as follows:
What is Mirasee? It’s a name that connotes vision; to see, to understand, to seek. The root word “mira” in Latin means “to wonder at.” Our new name salutes the relationships of great teachers and their greatest students, which are a reflection of each other. Together, the teacher and the student create Mirasee: the feeling of wonder about what they can achieve together, by reimagining what business can be.”
Monday, October 26th Email, Danny Iny, introducing the new name and unveiling the website 2015 Mirasee…reimagine business
I question how much valuable marketing time and effort it will take to explain the new name, particularly to a new audience? Does it take precious time away from the initial impact until a real connect to an audience can begin?
How well recognized, known and supported/big a company is has everything to do with whether the highfalutin name or renaming/rebranding will work.
Are You Big Enough or Bad Enough?
I’ve changed my opinion regarding naming over the last few years, I think, in direct relation to a changing audience and how they want and expect to receive information. This naming strategy is particularly true if you operate in the digital environment.
A name that in some way identifies your brand/product/service can offer a competitive advantage or at least factor in when initiating awareness, and especially so when new to a market.
Disruptive bomb-thrower, Bob Killian, is an international branding specialist. His company, Killian Branding has been branding and rebranding companies for decades. The company looks at naming and branding in a progressive, evolving, data-driven, sometimes exciting and adaptive kind of way.
They have specific ideas about naming companies.
Pick a Name, Any Name…
I’ve learned a few things from Bob’s posts this last year regarding naming and brand.
Take a look at his unique perspective in this piece about being “fearless with prudence” bringing market insight and analytics into the naming equation.
I love this point of view Bob shares about the perils of the 3 initial name stake. And in this, he discusses scenarios for renaming and basic reasons why. But in Renaming is a Minefield, he’s direct in outlining his advice on the possible hazards renaming can initiate.
Are you as spectacular as Apple?
Without the clout of a strongly established audience/following, there’s a second way you can get away with the nonsensical (at first) name. Namely, a strong and inclusive marketing strategy.
Therefore, you need a plan to punch the name and company to the forefront of your ideal customer in an unforgettable way, until you are known and widely recognized throughout the land.
Maybe you can become recognized, even beloved, like good old Apple. They are the exceptional company (killer technology + profitability) and maybe it’s possible for you.
That is if you bring something explosive, disruptive, stupendous, and advanced.
It won’t hurt to have a huge, set-to-have-it-have-it market and an awareness marketing campaign and distribution strategy grand enough to slam it home.
As an example, ABC Family recently took on a rebranding/renaming strategy, using a ton of pre-launch advertising at every turn before their name change to Freeform. They have the bang, bucks, and media platform to pre-announce and establish the heck out of a new name, prior to the change!
In doing so, they make a strong point in telling it loud and clear, who they will be and why, to their audience, preparing them well in advance of the official date of the name change.
Naming Strategy and You
I find this pre-sale of the new name and brand concept interesting. I can’t think of many examples of this strategy, offhand. Does it boost instant recognition and reduce or eliminate that human thing of needing to get used to an idea or natural resistance to change by doing it this way? Maybe.
But here’s a case where clout and budget contribute to guaranteeing the “new company” success, regardless of name.
Schleps like me, however, may do ourselves a little favor with a more descriptive, paralleling naming strategy because any little advantage helps.
Look, great business names are forever.
So just maybe—perhaps—you should stop jumping up and down, so excited to go with a name only you understand. Take the extra minute for thorough research, analysis—careful consideration and thoughtfulness—and conduct a stellar naming project.
Your naming strategy is purposed with finding a name to enhance, expedite, and grow your success.
Success = Recognition, in the name game, is all I’m saying!
Your goal, from the minute you start a naming strategy to select your business name is, in the end, to equivocate to instant brain recognition. Because by doing so, you solidify your identity and brand in front of the world.
In the meantime, you may be wondering. Can he do it? I think many who know and love Danny will say that if anyone can, it’s Danny Iny. Time will tell.
A Great Name is Forever
Oh, one more thing occurs to me for this discussion of the new Mirasee brand, so I leave you with this question. Does the tagline, “reimagine business” help the situation in any way?
Here’s a little Bob Killian tagline perspective.
He says, “Taglines allow you to stand out for one good, specific reason, far apart from commoditized competitors.”
And further, he states, “Passing up the opportunity to say something meaningful and memorable about your brand is worse than wasting time – it’s setting fire to money.”
Hey, anyone needing a Firepole now!?
What’s your take? Have you thought about naming as a strategy?