Archives for July 2020

Why do famous brands choose the business names they do? Is there a recipe for choosing the perfect company name when you’re starting out? As it turns out, there really is. However, that recipe isn’t the same for every industry niche, every brand, and every time period. That’s because names go through trends, just like anything else. Does that mean you have to conform to the trend when choosing your business names in order to stay relevant? No. It means there’s a guideline out there that you can use to draw inspiration from. A few years ago, for example, there was a great surge in single word names. Examples of this include Apple and Amazon and also the famed designer clothing retailer, Gilt. 

Who is Guilt?

Speaking of smart business names, Gilt is a great example. Gilt Groupe first launched their women’s wear in November 2007 and followed with their menswear in April 2008. The business has enjoyed mixed successes and losses but since coming into the hands of  Rue La La in 2018, it has changed its focus to target value shoppers, and this has seemed to be more successful than the eclectic mixture of ventures they ran previously. 

Gilt Groupe is a members only e-commerce store that sells high-end fashion items at massively discounted rates for a brief and limited time. Buyers can expect to save around 60% of designer wear. As a result, the site has been met with suspicion by many shoppers, however, the brand has managed to solidify itself as a trusted entity in the digital shopping sphere thanks to its cohesive branding. Typically, 70% of Gilt’s sale items are sold out within 90 minutes of being listed. They’ve also won some prestigious awards, including Webby Awards – Fashion & Beauty – People’s Choice Winner and Best User Experience – Honoree. 

Business names: What makes “Gilt” work?

Gilt, as a word, has a few different meanings but one could surmise that the most fitting definition, in this case, might refer to the adjective: “gold in color; golden.”  Gold denotes wealth, royalty, power, and beauty. This goes far back in humanity’s history, as is evident when we consider the Ancient Egyptians and other cultures that clad their royal leaders in gold. 

Gilt as a business name: When you consider that Gilt Groupe entered the marketplace to appeal to image-conscious fashionistas, the business name choice makes sense, even if it is rather elusive and cryptic to the average shopper. They are appealing to shoppers who value a good bargain, you can imagine how a name that is so closely linked with “gold” might evoke the trust they’re hoping to inspire in their buyers. Gilt, and the meaning of it, helps to identify this brand as an elite seller as opposed to the cheap retailers that sell knock-off fashion products. It was imperative that the brand makes it clear that they’re the real deal in order to establish themselves. Their business name is one way to do this. 

Gilt’s target audience and brand identity

Gilt has chosen a tricky target audience, but their business name successfully appeals to their chosen demographic. While they have satisfied a clearly defined need in the fashion industry – more affordable access to designer wear for the average shopper –  the average shopper has become skeptical of anything that sounds too good to be true. Many of these shoppers have identified no-name brands that retail similar looking clothing items at a fraction of the cost. This significantly narrows down the target audience Gilt Groupe can approach as clients. It means they need to appeal to those who value prestige, appreciate name brands, and maintain a very particular image but on a minuscule budget. Their business name doesn’t focus on the “minuscule budget” aspect, choosing to highlight the glitzy side of the service.

Choosing business names? Take inspiration from Gilt

Gilt has selected a retail brand name that is short, succinct, and, even if you don’t know what the name means, it still evokes an image that hints of a designer lifestyle and trending look. 

The importance of naming your e-commerce brand correctly has been established as a crucial stepping stone in establishing your organization’s identity. Harry’s, much like many other examples of authentic branding, seems to have been a trailblazer in their industry. Not only is the name “Harry” a common male name, but it’s also not particularly glamorous. T doesn’t provide as much as a hint as to the nature of the company. It’s extremely abrupt. So, how is it, that a name like “Harry’s” can pave the way for a brand to become a tremendous name in its industry – a household favorite, in fact? And what can other small businesses learn from this valuable example of authentic branding? 

About Harry’s 

Harry’s is a personable brand that embraces authenticity as part of their identity. They’re here with a clear-cut mission: to bring quality shaving products and tools to men without the hefty price tag that generally accompanies the popular name brands. They’re attainable. Stylish. They’re an example of authentic branding, there’s absolutely no pretense here. Their claim to popularity comes from their superior-grade shaving products that are designed, researched and tested, manufactured, and controlled by a team of over 600 engineers, designers, craftsmen, and chemists. 

Jeff and Andy are two everyday men that decided to create a product that’s easily accessible to most guys (they particularly make mention of the annoyance of standing in a queue at a drug store waiting to be given a classy razor out of a cabinet) but still high quality. The success of their authentic branding strategy is largely thanks to their relaxed brand identity – its’ simply so relatable – but it’s not just that. They started with the end in mind, creating something that answered a demand. Men wanted great razors without the hassle, the pretentiousness, and the high prices. 

Why their authentic branding sets them apart from their competitors

They’re bringing a great quality product to the average “dude”, believing that all men deserve a close shave that’s comfortable and kind to skin. So, who started this brand that’s become so iconic? In part, it lies in the power of a name: ‘We thought that other shaving brands portrayed an idea of a perfect guy with a perfect jaw but we wanted an honest brand that says we are for normal guys. We think Harry’s fits the bill. The name actually came from a grandfather figure of mine.’

Where every other name in the shaving manufacturing industry was touting this icon of a man with a perfect jawline and model-like features, Harry’s embraced the messiness of masculinity. The realness of being a guy. It turns out that this authenticity is so relatable, it became their major selling point, leading to other iconic names in the business, that are an established household name, creating product lines imitating this one. Authentic branding refers to how well your brand aligns its actions with its “ethos”. It can also refer to how relatable and real your brand is – is it something an average consumer can relate to or is it the icon of perfection consumers can only strive for? Authenticity refers to the former example. 

Understanding “authenticity” in the branding game

Authentic branding is a new style of marketing that is proving that realness sells far better (in some industries) than perfection. Many consumers are more at ease with a brand that shows its vulnerability and invokes humor to set consumers at ease about their own imperfections. This is because consumers feel at ease with themselves. In the case of Harry’s, authentic branding has worked because their target audience is men, who are generally less inclined to uphold an image. Men are practical. They desire practicality and logic. There’s nothing quite as dress-down and average as the name “Harry”. It’s that “come as you are” attitude that has buyers flocking over, exactly as they are.