Branding and How It Affects Your Marketing Power
The best businesses were built on solid names that expressed what that business was or is about, including Internet Businesses. Whether we brand our name, the name of the business, or what it is about, that is still branding at its best. This is why it's so important to pick a good domain name for your products or services.
One of the things that I've noticed more this year with some of the businesses that use Internet Marketing is them changing names or domains once they are branded.
To me, it makes no sense at all if an offline or Internet business has a great brand going for itself, fantastic conversions, and loads of customers with an original brand, and then changes that brand to something else. Does this make sense to you?
What that does is cut your marketing power in half, or worse. You end up spending more time, man power, and money to connect that new name with an old product or service.
The worst part about it is that corporate businesses are still doing it. Now I'm seeing some of the larger Internet identities do it as well.
For instance, I saw a couple of months ago where SitePoint marketplace decided to change things up a bit, and move part of their marketplace over to a new domain. It's called Flippa in case you want to know. Why they did that is beyond me. They had one of the best overall marketplaces on the Internet where Internet Marketers, businesses, site flippers, etc .... rallyed to sell their sites, blogs, forums, and businesses.
The problem there is that they are starting over on a new domain with that part of the auction, and their customers aren't responding to the new move very well.
Just with this one change, that marketplace lost a ton of their sellers, and buyers, because the sellers aren't posting their listings on that new site. So not only do they lose thier customer base for the time being, and God knows how long it will take to bounce back if it does, they lose that income that was once there.
In order to somewhat recover the lost income within an economy like we have now, they are having to market 10 times more than they originally did when they first started that Internet Business. And Marketing and Internet Marketing costs money!
That's an added expense, and I imagine by now this company is spending from their reserves because they don't have the steady stream of paying customers they had before the new brand.
My message to you guys is, branding is branding, and once you aquire a brand for your offline business or Internet Business, it is better to stick with that brand, especially if it's making a good profit, and customers are happy.
Lol I was always told growing up that if it ain't broke, don't fix it!
Last edited by Admin; 09-13-2009 at 09:23 PM.
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