Do you like your name? Do you like your own name, your personal, your Christian Name? I do, I mean, Iike mine but I know people who have changed their first names. I wonder what their parents felt? Pretty traumatised, I would have thought?! Because that says something more than just the name, it says something about the relationship between the child and the parent. Some would say, “no, you are making too much out of a name: what’s in a name”. I would suggest an awful lot! Your name, I was thinking about it. Your own name, company or organisation name is a brand, heritage, something with a unique value. Invest wisely in it and the more valuable it becomes.
The Chartered Institute of Marketing – the CIM
Let me take an example of the CIM which was founded as the Sales Managers’ Association in 1911, 116 year ago. In 1921 it was incorporated as ISMA – the Institute of Sales and Management Association. We have a loyal team of volunteers who organise events and activities in Dorset, I am a past Regional and Branch Chair. Recently someone said, “it’s not important what we call ourselves, we could be Dorset marketers, CIM is not so important…”. Nobody else agreed. Why? Well, because of the brand. Does that mean just because the name’s has stuck around a long time? As a CIM Chartered Marketer they would expect me to point out more than this as key components to a brand, I would say what is important when it comes to a brand is:
- logo: CIM has invested heavily in new branding
- other visual identity including:
- use of space as per corporate guidelines
- brand personality
- type/quality of products and services
- customer service philosophy
- associated brands
- comms channels
- marketing approach
- business and social networking
- tone of voice
These are just some of the components (here are more on our Pinterest site), and I will not comment on how well or poorly the CIM does in any given year. However it is global and is over 100 years old with royal patronage, and with huge brands as customers. When I joined it was to maintain my contact with the latest in marketing practices and link to a network of professional marketers, which works for me!
Dorset Business Angels and UK Business Angels Association (UKBAA)
Another example of branding in action is with Dorset Business Angels (DBA) where I am a founder director. We have managed to create a successful brand and were very clear that we needed the support of UKBAA, which is recognised globally as our industry body. We wanted to be accredited by them which we are. We pay to be a member and abide by their code. We engage with key local financial services and local government stakeholders, putting back any profits into DBA, not paying any directors. One of our key members David Ford, Chairman of UK top digital and branding agency Bright Blue Day, our supporting sponsors, is our brand adviser so again here we invest time and effort to share our clear vision, and develop an attractive and modern brand to the market place. Our brand and name is clear and says it all.
Yes, your own name is something with a unique value. There are various regular reports on brand value such as the Interbrand Survey included on our storify branding page here. As this and all analysis shows on branding, the more you invest wisely in it the more valuable it becomes to you.
Peter Eales BA Hons Chartered Marketer FCIM FIDM
Founder Director Dorset Business Angels
MD o i solutions limited