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Naming Right Solutions (SMART 100)

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The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.

Naming Right Solutions: A part of SAI Marketing Counsel (NSW)

This innovation initially came to life when…

SAI Marketing Counsel has been providing strategic marketing and brand building services to the corporate sector for over 11 years. We have watched the growing demand for “naming” services offered by crowdsourcing websites. These sites no doubt provide a wide choice of “creative” names at a low price and fast turnaround but are often based on sketchy briefs and shallow thinking. We believe a brand is the very foundation of a business so the name should be driven as much by the underlying strategy as it is by creative thinking. We saw a market opportunity for “strategic brand names”.

WHAT & HOW

The purpose of this innovation is to…

Create a value-added naming service that approaches branding from a strategic as well as a creative perspective, so that when a customer connects with the brand name, it should reinforce the underlying strategy or value proposition of the business.

It does this by…

We do not follow established principles of branding nor do we believe that an outlandish name is the only solution. We do recognise the increasing difficulty of finding names that are available for diverse applications. We therefore overlay creativity with strategic thinking to arrive at a finite choice of names that reinforce the business strategy.

PURPOSE & BENEFITS

This innovation improves on what came before because…

Traditional naming approaches involve a large number of creative options based on a set of established rules. Naming Right develops a finite number of unique names that are clearly anchored to a firm’s core business strategy.

Solutions from Naming Right go beyond catchy names and clever taglines. They help build both the brand and the business.

Its various benefits to the customer/end-user include…

Customers get the benefit of names that reinforce their brand strategy. Those that do not have an articulated strategy receive specific advice on what this strategy should be at the fraction of the cost of hiring high-profile branding agencies.

COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

The way we approach branding is unique. Finding the right name has always been considered a numbers game: generate a large number of creative names and pick the ones that you like and are usable. Naming Right Solutions approaches naming as a strategic exercise that yields fewer but more powerful options that consistently build brand value.

Its predecessors/competitors include…

Competition includes established branding agencies and low-cost crowd source providers. Naming Right will price its solutions lower than what the branding agencies would charge but higher than what is available through crowdsourcing. The incremental value however would be substantial.

TARGET MARKET

It is made for…

Naming Right is ideally suited to mid-sized organisations that are wanting to make a strategic difference to their business. These firms recognise the value of strategic branding and are willing to pay for a high-quality service.

Some are likely to have a clearly articulated business strategy/value proposition or are prepared to develop one with some external input.

We expect a handful of customers may graduate to becoming prospects for the parent business, SAI Marketing Counsel.

The service would also be relevant to small businesses that want to stay ahead of their pack.

DISTRIBUTION STRATEGY

It is available for sale through…

Clients are encouraged to contact us directly. We are however simultaneously finalising partnerships with like-minded organisations selling to SMEs with a propensity for strategic value addition through quality brand outcomes.

Our marketing strategy is to…

We will promote the service initially through AdWords and subsequently via pay-per-click advertising. We have a simple website (www.namingright.com.au) that articulates our value proposition and illustrates how we approach branding. We hope to optimise the site for searches in due course.

We will also partner with other businesses currently selling to medium and small enterprises.

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