Long names can rock, too

I came across a quote recently that made me think. Ken Simms, Avidia Bank’s senior vice president of marketing, was quoted in the Worcester Business Journal in reference to his bank’s recent name change following a merger. He said:

“You don’t want a long, involved name, or a name that doesn’t readily come to mind when people are looking for you online.”

I’d like to respectfully disagree–at least with the first part–and provide a proposed correction.

I don’t think the problem is a long, involved name. I think the problem is, rather, a boring name. Ridiculously un-stimulating, sleep-inducing, don’t-care-if-I-mispronounce-it-because-it’s-so-brutally-devoid-of-personality names.

See, the problem isn’t the length of the name…it’s how memorable it is. How remarkable it is. If it’s worth the energy to even TRY to remember it. Yes, if your name is Southern States Valley Community Federal Credit Union, that’s bad (btw, I just made that name up…it’s not a real example). And it’s long. But it’s length isn’t the problem. The problem is that nobody will get that name right because it’s not worth TRYING to get right.

Also in the article, a representative from the firm that worked with the new Avidia in its naming process, said “A bad name can actually be a barrier for a business. What a good name will do … is it will be a gateway rather than a barrier.” I agree with him on that point. But please don’t get the impression that a good name is good because it’s short. I’d argue that a good name is good because it’s:

–worth remembering
–unique
–closely reflects the brand’s personality

You can accomplish all those attributes with a long name.

Thanks to Jeffry Pilcher on his The Financial Brand blog for the topic.