Investopedia define “Synergy” as:
“The concept that the value and performance of two companies combined will be greater than the sum of the separate individual parts. Synergy is a term that is most commonly used in the context of mergers and acquisitions. The expected synergy achieved through the merger can be attributed to various factors, such as increased revenues, combined talent and technology, or cost reduction.”
As you may have read about our previous rebranding post, we have decided to go with a one-brand strategy, renaming all our products under the main brand name: Twinword.
Diversity is grand, but when it comes to brand marketing, having different brand names for individual products not only increases marketing cost, it also dilutes brand power and confuses consumers.
When we first started out, we had one main website and 4 other product websites, each having a different domain name:
– Twinword website, focusing on describing our NLP technology and Human Text Understanding APIs
– Levelpump website (now Twinword Exam)
– Wording Lab website (now Twinword Writer)
– Psychegraph website (now Twinword Mind)
– Word Elephant website (now Twinword Graph)
We had much difficulty explaining who are we and what do we do. We often get questioned: Is Twinword a conglomerate? What is your core product/service. And on top of that, we had separate social accounts. We had two Facebook pages, one for Twinword and one for Levelpump. Two Twitter accounts, one for Twinword and one for Levelpump, an Instagram and a LinkedIn account for Twinword. Marketing cost was extremely high, and if we were to follow the same branding strategy, we would be expecting: 5 products x 4 social accounts (Facebook, Twitter, LinkedIn, Instagram) = 20 social media accounts. Maintenance effort will be overwhelming, and we simply do not have the resource to do that.
We had to make the choice to rebrand, to implement the one-brand strategy to achieve a synergistic effect for Twinword. It was a big decision, and definitely not an easy task. For the next two months, our programmers worked hard on the codes, designer working away on giving us new logo artworks, and the marketers on changing product descriptions and announcement materials.
Upon the completion of the nitty gritty background work, we see ourselves successfully morphed into the current www.twinword.com
Products were renamed into simplified terms and website domains unified.
– Twinword Finder (www.twinword.com/finder) *New
– Twinword Writer (www.twinword.com/writer)
– Twinword Exam (www.twinword.com/exam)
– Twinword Graph (www.twinword.com/graph)
– Twinword Mind (www.twinword.com/mind)
– Twinword Blog (www.twinword.com/blog)
The domain change gave us a significant boost in terms of SEO, as we see a surg in organic traffic as our page rank improves. Blog content were search engine optimized and inbound traffic directed to our main website twinword.com. True enough, according to analytics, we saw a synergistic effect as traffic to our main website rose to its highest.
We also combined and directed all emails to one mailbox: firstname.lastname@example.org. Social accounts were all set up under the brand name Twinword. It is said that there is no gain without sacrifices. We had to close down Levelpump Facebook and Twitter account at the expense of losing over 10,000 followers. We also narrowed down our focus to having only 4 main social accounts for Twinword namely Facebook, Twitter, LinkedIn and Google+.
This has helped shift the focus from marketing activities for individual brands to pushing Twinword as the “one strong brand” with Natural Language Processing as the core technology.
We are happy with the new system in place, and have definitely seen drastic improvements in various aspects. As the nature of business and market differs, we are not suggesting that you should do an exact replica of what we did. But my point is, if you (or your website) are (is) unable to explain your business in 3 sentences to someone, there is definitely a need to take a step back and examine your current marketing strategy.