How to Effectively Launch a New Company, Product or Service Name
by Paula Satow, Satow Strategies, LLC

Years ago, when I was managing brands for a technology company, I went online the night before a big product launch to see how many references there were to this soon-to-be brand name. I found only about 20 citations related to other, rather obscure, uses of the term. Today there are nearly 2,000,000 internet references to this name. Pretty exciting but also pretty scary when you think about the powerful genie that can be unleashed when a new name is launched. Now you don’t see it… now you do. How do you turn the Name Game into the Fame Game and deliver the most bang for your branding buck?

Here are several tips on how to minimize the fear factor and maximize your results:

1. Begin with a great name. No matter how much money you plan to spend on marketing a new brand, if it doesn’t have the makings of a good name, it’s DOA. Ask yourself the following: Did you test the name in the marketplace? Does it effectively communicate your unique value (or give you plenty of room to create that value)? Is the name easy to pronounce and spell. Does it conjure up positive references or negative?

2. Do your legal homework. OK, so you’re in love with your new name. When it rolls off your tongue, you’re sure you hear the sound of a cash register going “kachink.” But, does your trademark attorney have a mile-wide list of reasons why it’s a bad name? Things like…It is already a trademark in your category… It means “your hippo stinks” in several languages…It is too generic and unprotectable…Your competitor uses a similar name. If so, take heed now – such advice can save you mega-bucks in the long run.

3. Mum’s the word.A favorite expression in the semiconductor industry is “Loose Lips Sink Chips.” At one company I worked for, heads nearly rolled when the CEO overheard an employee conversation on a airplane about an unannounced product. So, get a privacy screen for your laptop and a muzzle for your staff. The best launches can be ruined if they’re pre-announced by the press instead of strategically announced by your staff.

4. Blast off! No matter what the scale of your dreams or the size of your budget, every good name deserves a good send-off. I’ve seen successful launches as subtle as a posting on a homepage and as grandiose as a Times Square celebration – complete with ticker messages! The key is to scale your activities to smartly fit your strategy and your budget.

5. Keep it rolling. In this game, there’s nothing more clever than a “rolling launch.” Rolling out your messaging over time – through tradeshows, merchandising, regular press announcements, website updates, e-newsletters, postcards, and the like, lets you build momentum while you build your brand. Remember launches help you create a brand, but on-going communications programs help you build it. And don’t forget to get online the night before your launch to count the number of references to your new name. If you play the game right over time, the “before and after” snapshots will be exciting indeed!

When it’s time to play the name game at your company, contact Satow Strategies at 602-481-1942 or info@satowstrategies.com. We’re ready to help you succeed.