Know-How Exchange : Branding

Building a brand takes a lot of work, and you already have 14 years invested in Laino. The Prudential logo might also be a help. A simple test is to send out a leaflet in two or three versions to three matched groups prospects on your target list - each gets one version of the leaflet with an easy call to action (eg a competition draw, charity drive) and see which works best at generating response.

Standout names in financial services are tough and it's an area where reputation and track record are really important.

Steel Mountain Financial Services

Constance Financial Services

Merchant House Financial Services

Andmore Financial Services

Blue Granite Financial Services

Eternity Financial Services

Branding at its most effective meets the client's needs half way. That is to say, it's not just a megaphone you're using - you're listening to what they have to say as well. After all, who's buying?

When you say "The reason I want to change is because I want to attract more affluent clients " - you are sitting on a heap of client data and feedback that would make for an outstanding online campaign. This may (or may not) meet all your needs, that isn't important right now. The real advantage of online campaigns is the speed at which they work. You can get answers in the space of an afternoon that would take weeks of work using traditional methods - such as Saul's proposing. There's nothing wrong with this - the technique is identical. It's the speed that's the issue. You can get all those answers in no time at all, and probably drum up some business too.

When you say "My target market is professionals, business owners, individuals and families 40+ with incomes of $150,000 and over and at least $200,000 in investable assets" you'll find that such demographics are easily targetable using the new Facebook advertising platform (not yet available to me here in Europe). Google's display network also allows for such finesse in targeting. Combined with the references, suggestions and feedback you've already got, you can form a few names, taglines that really meet those needs. Testing is then the way to determine what works best for your customers.

I will add that it's not always the one you think will work best. That's irrelevant, they're buying after all. You're attracting people who need your services, not other financial advisors!!

Does this help any? Think especially about the things your customers have said about you when referring your services to their friends.

Before you change names, have you surveyed people to better understand what your name represents to them? For example, if you changed the spelling of your name - but kept it phonetically similar, would that be a benefit?

If you're convinced that changing to a new name/tagline is a better option, then I'd suggest starting by identifying what unmet need your target audience is facing (what do they need, that they currently have trouble finding, and you can ideally provide)? In other words, why should those with higher income want your services (instead of the competition)? Also, any chance you can narrow down your audience further?

I feel you should think long and hard before you risk all the band equity you have built under the laino & associates name its one thing to simply remove the primary carrier branding but quite another to loose the brand identity you've spent 14 years establishing especially if you feel your current clientele has a positive perception of your company. As far as the new affluent clientele you would like to attract, those type of clients choose a company based on results and a proven track record not what company name sounds catchy.

I think the name is Great and it's good that you didn't wonder to far from your original name, that being said I feel that your tagline is a bit of a mouthful perhaps your can find a way to condense it a little more