Wednesday, July 15, 2009

The Extra Mile Week: It's All in the Name


Snakes on a Plane

The Whopper

Zero percent financing


The importance of naming your product or projects has never been more critical than in today's cynical, been-there-done-that world. But make sure you deliver what you promise or the world is going to wise up and move on.

Snakes on a Plane

This movie title created an amazing amount of internet buzz and was the best marketing this poorly reviewed movie could ever have. The movie ended up grossing over $62 million worldwide. Many consider this the most internet-hyped movie of all time crating a large fan base before the movie was even available for review. How much did the name of the movie impact this viral marketing? The original title of the movie was Pacific Air Flight 121. Do you think that would've created the same buzz?

The Whopper

When this sandwich first came into being it was a monster burger compared to what the competition was offering. The slogan, "It takes two hands to handle the whopper." Spoke to the accuracy of the burger's name. If you wanted a big meal fast food lunch the Whopper was your choice. The name meant something.

Today Burger King has kept the name brand but many competitors offer a burger larger than The Whopper, and The Whopper has shrunk in size, in comparison and in buzz. To resurrect the significance of The Whopper in the burger world, Burger King needs to either lose the product name (never happen) or restore the burger to being king of the burger food chain once again. The name only works if it has meaning.

Zero percent financing

Auto dealers have spent a decade trying to use the allure of "free" financing to pull people into their dealers. Auto finance companies wanted to capture the loan market from banks and credit unions in an attempt to make a different revenue stream compensate for losing car sales. The American public initially responded strongly to the sounds of a great deal, but it didn't take long for buyers to learn in the finer print they would be just as well off taking a rebate or negotiating a harder deal and getting their financing in the normal fashion.

Once again the name of zero percent financing has great buzz and impact until the product didn't deliver on the name.

Are product and service names important? They are critical to getting the word out, creating buzz and viral marketing. However, that in itself isn't enough. The product has to be true to the name, and evolve and progress as society finds the need for something more interesting. The name is just the critical first step.