Lexicon® Blog

Posts Tagged ‘Amazon’

Amazon vs. Netflix: How Names Can Affect Brand Evolution

In Brand Name Development, Brand Naming, Branding, Business, corporate naming, High Technology, Naming on February 8, 2016 at 4:44 pm

It’s old news that Americans are cutting the cord. How we consume media – all forms – is evolving at an increasing clip. Those with innovative business models can keep up (or join in), while those stuck in their old ways are doomed to fail. At first blush, a brand name may seem secondary to business strategy when it comes to staying ahead of the game, but it often plays a hefty role.

This is more obvious in some cases than others: while P&G’s Swiffer has evolved into an entire line of easy-to-use cleaning supplies, its one-time competitor ReadyMop has a brand name that prevents it from being anything other than a mop that’s ready.

Back to media: there are two brands, both hailing from the dot-com ’90s, that have thrived in the new access economy: Netflix and Amazon.

Amazon-vs

 

 

Whereas Blockbuster and Hollywood Video are little more than memories, Netflix has managed to transform itself from a strictly snail-mail DVD renter into a global streaming powerhouse that makes its own critically acclaimed programs. Some even predict that global media behemoths like Disney, Twenty-First Century Fox, and Time Warner might have cause for concern.

Parsing the name Netflix, the service is clearly tied to (1) the internet and (2) movies, which fit the initial model well. A natural expansion is streaming all sorts of visual media. Of course, Netflix as a name has come to stand for the larger brand, which may continue to push far beyond these two virtual thresholds. And it’s not quite that the name gets in the way of possible expansions, but it certainly doesn’t pave the way for them either.

Consider, by contrast, the ways Amazon has evolved. Once an online book retailer, it’s jumped into streaming media, original content, and even ventures into drone technology and a voice-controlled platform to rival Apple’s Siri. Jeff Bezos has remarked in the past on the importance of the name: “There’s nothing about our model that can’t be copied over time. But you know, McDonald’s got copied. And it still built a huge, multibillion-dollar company. A lot of it comes down to the brand name.” No coincidence that the name Amazon so easily accommodated the shift from books to everything.

Beyond this, the name plays on an incredible conceptual metaphor, rich with imagery and meaning. All the vastness, biodiversity, and life-supporting qualities of the Amazon rainforest are mapped onto how we make sense of the company: the breadth of its ventures, our delight in the products it sells, potentially even its critical function in the broader context of the internet.

The name is not the be-all-end-all of a brand’s trajectory, but it can be a speed bump or an accelerator to success in a shifting landscape.

Advertisements

Web of Intrigue: Online Shopping Meets Storytelling

In Brand Name Development, Brand Naming, Branding, Business, corporate naming, High Technology, Naming, Trademarks on April 22, 2013 at 3:00 am

When companies name an online enterprise, the right name can transcend the notion of a mere store and describe an entire shopping experience. This is the kind of thinking that wins over consumers while giving a competitive advantage in the overall landscape of business.

Amazon is a sterling example of this. Although books were the first products associated with Amazon, the name has come to describe a full platform based around shopping and variety.

online-shopping-keyboardWhen you visit Amazon’s homepage, you see a vast array of options and opportunities, from media to housewares to fashion and beyond. If the company had gone merely with a descriptive name like Allbooks or Bookmart, it would never have had the capacity to encompass all of these different but inviting departments. (Apple’s iTunes is an obvious counter-example, but the Apple halo and focused i-initiating architecture more than make up for the narrow scope of tunes.)

Indeed, the easily identifiable, compelling name of an immense river proved more effective than any regular department store moniker. Over the years, “Amazon” has become something else entirely: a community, a platform, a social movement, a whole world of feeling.

We see an illustrative example even if we look at two bricks-and-mortar titans – Wal-Mart and Target. If you ask a typical consumer which name is more fashionable, Target will likely be the clear winner. As a real word with many effective associations – hitting a mark accurately, getting what you want, a “bull’s eye” – Target is a name that captures an emotion and efficiency, not merely a “mart” where many different things are sold.

Now compare the online sites of both of these brands, the air of innovation that Target has is immediately apparent. The name clearly sets the company’s tone, sets its identity in the marketplace.

A key example of effective online naming in Lexicon’s history involves the retailer originally known as Internet Diamonds. As the name clearly implies, the company once specialized in efficient and reliable ways for customers to buy diamonds online; in most cases, the typical customer was a man shopping for an engagement ring. But as time passed, obvious questions arose:

What if a customer wanted to buy something other than a diamond?

What if a woman were shopping for herself and wanted a little bit of intrigue and allure incorporated into the process?

How could the experience put a stake in the ground that would remain compelling as competition swelled?

Naturally, the company needed a new name. So Lexicon worked with the client to create a new identity that opened up an entirely different world of possibility.

Blue Nile.

Like Amazon, Blue Nile conjures up a feeling – an air of potential, beauty, vastness, and enticement. Blue Nile is now a multibillion-dollar business. A similar example is Piperlime, which Lexicon named in partnership with Gap, Inc. Again, in adopting this name, Gap, Inc., chose to evoke a certain emotion in the customer, not simply define a narrow window of opportunity. Due to its bright sounds, the zesty images of both piper and lime, and the enticing lime logo paired with the name, the word implies fun, variety, and satisfaction, and Piperlime now rivals Bluefly as one of the most recognized shopping sites in the world. (It even figured prominently in the hit reality competition series Project Runway, where host/supermodel Heidi Klum clearly took pleasure in pronouncing it.)

What’s more, if Gap ever wants to branch out further and build upon Piperlime’s potential as a full-on social media hub or community, the name has the capacity for that type of expansion.

Names like Amazon, Blue Nile, and Piperlime allow for storytelling with an edge, a customer base with an extra bit of panache, and that is why creating a name that has a broader appeal than simply selling one type of thing or describing one kind of store is so important. Stores come and go, but a store’s style — the sentiment that it instills in a customer — endures.

— Lexicon Branding