Power Marketing

Does a name determine value?

Maybe. Names plant images or emotional value in our minds. Product names seem to influence value. Consider these examples.

Wine
If you are selling wine then consider the study by Brock University as reported in the Globe and Mail.


“Names that seem unique or harder to understand or wrap your mind around are that way because they’re rare,” said Antonia Mantonakis, the Brock associate professor of marketing who led the study. “Things that are rare are more valuable.”

Apparently wine appears more valuable when it seems to be unattainable.

This study demonstrated that a difficult-to-pronounce name like Tselepou was perceived as more valuable than Titakis, which was perceived as more valuable than a simple common name. Wine drinkers want to be mysterious. Read the rest of this report at the Globe and Mail

Investment
The same article in the Globe and Mail mentioned:


"In one subsequently famous case, Harley-Davidson shares shot up 16 per cent in the weeks after it changed its ticker from HDI to HOG, the biker-slang term for its motorcycles."

When it comes to investments simple names are better. Investors want to be reassured - not confused.


Dating
Imagine if you are a guy looking to meet a woman on an online dating site, how likely are you to contact a Gertrude, Bertha or Gretchen? Would Melanie, Tiffany or Jennifer sound more attractive?

Imagine that you are a woman hoping to meet the guy of your dreams. Your friend offers to introduce you to   Igor, Rudolph and Herbert. Would you prefer Brad, Stephan or Trevor?

Naturally the attractive people names will be influenced by your age and culture.


I suggest that when you are naming your company or product think about what sounds attractive to your best prospects. They are the ones who need to give you money. Buyers won't care about the name of your grandmother, your hero or your pet.

Should the name sound exotic, simple, foreign, common, reassuring, provocative or suggestive?



George TorokKeynote Marketing SpeakerCo-author of Secrets of Power Marketing
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Hurray! We've reached 500 posts on this blog.

The first post was six years ago - March 2006. When I started this blog I had no idea where it would lead me nor how long I would stick with it.

This was my first blog and I entered the blogosphere as a marketing experiment. The question on my mind was, "How will this help my business? The second question was, "How will I measure that?"





I can't put a number on it, but I believe it has been worthwhile. Here are some of the benefits that I've realized from blogging:

• New clients, followers and connections
• Revenue from advertising and product sales
• 500 published pages of material
• SEO enhancement of my websites
• Posts that I can point clients and prospects to with specific examples
• Received encouragement, questions and insights from readers
• Media interviews because of my published opinions 
• Deeper understanding on issues because of the desire to write valuable content

Writing helps you explore topics deeper and clarify your thinking. Writing articles forces you to compose 500, 800 or 1,200 word essays. Blog writing allows you to post a thought in as few words as it takes. It could be 50, 150 or 300 words.

There are many times when a blog post has helped me deal with a client's business issue or unexpectantly supplied an example for a speech.

There were times when the frequency of posts slowed down and I wondered, "What's the point?" You might have noticed that in recent months I've attacked this blog with renewed vigour and purpose.

I've made it to 500. I'll keep going.

Do you write a blog? How is it working for you?


George TorokKeynote Marketing SpeakerCo-author of Secrets of Power Marketing
Get your free copy of "50 Power Marketing Ideas"Power Marketing on FaceBookMarketing Zoo on Twitter
 

"It was a dark and stormy night"

That engaging line marked the begining of an old story. Although many of us might recognize the line few might know the author, Edward Bulwer-Lytton, or the title, Paul Clifford. It was published in 1830.

The point is that stories capture attention and good stories are remembered. Stories are powerful marketing tools.

Now there is scientific proof of the effect of stories on the brain. Read about Your Brain on Stories at the Neuromarketing blog. Note the report about how they used MRI to measure the effect of story telling on different parts of the brain.

Notice how the story about the Snow blower add on Kijiji that went viral. The well written ad captured attention because it was written in a story telling manner.

Read the Huffington Post report about Kijiji Snowblower Ad From Moncton, New Brunswick: Genius Ad Offers Chance To 'Punch Snow In The Throat'


Back to where we began. What's Your Story?

If you aren't telling your product/business/career story, perhaps it's time to start.

Conflict sells. Conflict makes the news, grabs attention and gets discussed at the water cooler. If you want to be noticed, fight a powerful and evil enemy. Who or what demon are you fighting? While planning your PR strategy, pick your enemy strategically. The tougher, meaner and more disgusting your enemy—the better for you. That positions you clearly as the hero.


The Joker taunted Batman with the phrase "you complete me" in the movie The Dark Knight. The public image of both Batman and the Joker were stronger because of their conflict. A champion needs a formidable villain, and vice versa.

The PR lesson is that the public defines you by your competition. If you are not well known maybe you need to pick a tougher, more visible enemy.

Make your enemy appear more frightening

Read the rest of this article on PR News Online


George Torok is a Marketing Expert and a contributor to PR News Online