A new trend of downsizing has more
to do with image than the bottom line
as companies across the country and in
Nevada are cutting down their names.
Nevada-based McDonald Carano
Wilson McCune Bergin Frankovich &
Hicks, LLP, Attorneys at Law is one
firm that has made the decision to
adopt a shorter name. The 50-year-old
law firm now operates as McDonald
Carano Wilson LLP.
"We joke that the decision came
down to losing our receptionist, or cutting
out some of the seven partners listed
in our name," said partner Bud
Hicks, whose name is one of those
being taken out of the firm's title. "We
were finding that many of our clients
referred to us as McDonald Carano
Wilson anyway, and simplifying our
name to make it more 'user-friendly'
would also make it more consistent with
the branding that was already taking
place within the community."
Another firm that has also taken the
shorter approach to name recognition is
the Reno accounting firm of Muckel,
Anderson, Clausen, Behrenz, Lunquist,
and Klaich. It's now known simply as
Muckel Anderson CPA's.
"It was difficult for people to remember
all six names, myself included," said
partner Michael Klaich. "We wanted to
go with something that was not so cumbersome
and was more conducive to
presentation both verbally and visually."
Klaich added that the firm organized a
major branding campaign around the
new name that has been very well
received by clients and the public.
"We're pleased with the results.We
now feel there is a stronger connection
between who we are recognized as and
our actual company and services," said
Klaich.
"Many firms are realizing the marketing
benefits of having a shorter,
more memorable name," said Judy
Strauss, professor of marketing at the
University of Reno, Nevada. "The goal
is to have your name come up first
when a potential consumer considers
your product category, and usually that
is a shorter, more easily spelled and
pronounced name."
With seven of the original partners
in the firm's name, and the issue arising
each time a new partner was added,
McDonald Carano Wilson was perfectly
suited for this trend. But, in order to
achieve the name change successfully,
the firm had to address many issues
including the fact that many of the
partners whose names were being
removed from the title are still active in
the firm.
"Of course, I paid particularly close
attention to how this aspect of the name
change was handled," Hicks said. "We
did not want our clients or the public to
think that the firm was splitting or that
Bergin, Frankovich, and I were leaving.
On the contrary, we wanted to promote
that while our firm and our services
were growing, it was only our name that
was getting smaller. So we carefully
crafted letters, announcement cards and
an advertising campaign to inform our
staff, clients, and the public that the
name change was entirely done for simplicity
and marketing purposes," Hicks
explained.
"A name change requires courage,
commitment, and consistency," said
Strauss. "Changing a name should never
be taken lightly. Research, market tests,
and financial resources must all be considered
in a name change. Many companies
pump millions into building a
brand and in some cases a name change
means nullifying that investment."
Strauss offers tips for other firms
considering shorter names: "Firms
should never think that partners names
need to be in alphabetical or based on
who has the most billable hours. They
should, instead, order the names in the
way that incorporates some of the old
name and is easily spelled and
pronounced."
