Brand Name Envy
[This is a guest post by Nick Turner of HCP United, winners of the inaugural go!-celerator program.]
The Evolution of a Name
After embarking upon our accelerator/incubator adventure, HCP United was faced with a tough reality, our name had to go….or so we were told.
Health Care Professionals United (HCP for short) served its purpose of unifying our subsidiaries/divisions under one corporate title, but in growing our company, we realized that there were many fundamental flaws with it.
First off, no one—including our target market—knew what HCP stood for.
Another recurring problem was that everyone assumed it was simply another division of our operation, as opposed to the parent company. For example: PT United represents our Physical Therapy division, DPM United focuses on Doctors of Podiatric Medicine and Chiro United is geared towards the Chiropractic profession.
All three sub-divisions are clear to their target audiences, but our corporate name was not, so…a change was suggested.
So what’s in a name?
When brainstorming with the branding and marketing “dream team” that is goBRANDgo!, we identified some key things we wanted our potential new name to embody.
First off, we truly wanted our new brand to reflect the core of our company. Our company is passionate about streamlining the outdated supply chain model for healthcare product distribution and our current branding failed to accentuate that mission. We are young tech entrepreneurs committed to changing the Health Care industry for the better, and our new name needed to reflect this.
If we were going to be persuaded to make a change, it had to be something short and simple. No more acronyms, no more multi-word names and no more “Oh, you guys are that CPH company, right?”
We wanted our name to reflect the nature of our business, but equally important, we wanted it to engage potential clients and strategic partners. While the ‘United’ theme is strong for our subsidiary companies/divisions, we wanted our overarching brand to be cutting edge, attention grabbing and memorable. To outline our decision criteria, we came up with the following requirement list for any potential new name:
- Tied to Health Care
- Fosters a Sense of Community
- The Feel of a 10+ Million Dollar Company
- Starts with a Letter at the Beginning of the Alphabet
- SEO Friendly
To help us get started we looked at company’s names and brands we liked. Many of them had names that started with a letter at the beginning or end of the alphabet (ie. Apple, Amazon, Yahoo & Zappos). Also, many names we liked were made-up or were based off of Greek and Latin roots or symbols (ie. Covideon).
Utilizing the creative minds of at goBRANDgo!, we “tried on” a quite a few names before settling on our front-runner. Ladies and gentleman, I proudly introduce to you (drum roll please)…
Stemming from the Greek Goddess of the healing process, Axcio is a modernized play on the ancient word ‘Aceso’. The root ‘ax’ means axis, as in the imaginary line that cuts through the earth. “Cio” is a latin verb meaning: to move, set in motion, urge on. The decision to add Corp. to our name was a late addition, but we felt as though it gave us the feel of a larger company and (just as important), the domain was available.
For a prolonged time, we boiled over this name. We pondered questions such as:
- “Do we want a made up word for a name?”
- “Is this name a good reflection of our company?”
- and “Is a re-brand really necessary?”
Ultimately, we went back to our decision making criteria list:
- Professional? – Check
- Innovative? – Check
- Tied to Health Care? – Check
- Fosters a Sense of Community? – Maybe (an argument could be made either way)
- The Feel of a 10+ Million Dollar Company? – Check
- Short? – Check
- Starts with a Letter at the Beginning of the Alphabet? – Check
- Pivotable? – Check
- SEO Friendly? – Check
In order to achieve cohesion between our name and brand, a change was necessary.
Basing our decision off of the criteria list and our mission and vision for the company, we eventually decided to make the change and begin the process of rebranding as Axcio Corp. We were even able to transition our old name, Health Care Professionals United, into Axcio’s new slogan.
Like many companies who face the the decision to rebrand, this choice did not come quickly nor easily. It took months of planning, arguing and thinking, but ultimately we opted to rename and rebrand ourselves in an effort to foster future success and prosperity.