CrowdCube Import: You sure about your brand name?

UnicornMan wrote:
Hi VitraCash team, congratulations on your overfunding. You have a great idea and a great team. Having said that, I’m not a fan of of your brand name. Name blending with the word “cash” makes you sound a bit like a payday lender and less like an innovative fintech start-up, in my opinion. I have a few other issues with your branding, but they all lead me to the same questions: do you plan to change your brand in any way? And, will you be doing any consumer research to make sure your brand resonates with your target market?

kuririn wrote:
Same question! +1 Something with “cash” in the name doesn’t sound legit. Definitely, you need a new brand name! The community is here to help. :slight_smile:

VitraCash wrote:
About the brand I believe that testing and doing research with the community and users is very important. @UnicornMan What other things are you talking about besides the name? @all We don’t have anything specific in mind, do you have ideas? What do you think about naming the whole system VitraCard instead of just the card? Or maybe VitraPay and VitraCard for the card? We will definitely test and confirm!

Fean0r wrote:
I’d certainly support dropping the Cash and just going with VitraCard for the whole system. But I’m not sure about Vitra at all. It’s just not sticking in my head, I literally keep having to go back and look at my emails or the CrowdCube website to remember it. I notice from your video that your team doesn’t appear to be made up of native English speakers - is the name more meaningful in other languages? I speak German as a second language fairly fluently and I think it might sound better in German - but I’m not sure.

FlorianWinkler wrote:
We are indeed german speaking. We derived the name from the old norse word “vitra” or “vitr” which translate to “wise” or “wisdom, knowledge”. So basically we offer a “knowledgable card”. In latin, vitrum means “glass” which could mean a “transparent card”, not in the literal sense but figuratively as we try to bring transparency to all cards a user owns. Of course that doesnt really make sense if you don’t speak a germanic or latinic language with a derivative of these words - e.g. vitrer (french) or vitrum (old english) - most of which in central Europe mean something like “glass”. I agree that it sounds better in german, but we haven’t came up with a better name yet, so we are open to suggestions from the community. It’s always hard to come up with a good name as you also need to consider website domain, copyright, etc.

Fean0r wrote:
Sehr interessant! Hence “wissen”, etc. I really like that back story to the brand, and I think it should feature on your website’s “about” page. Now I know that I would actually hate for you to change the name too. I wonder whether you could make more use of it in your marketing as well: maybe even call it the “Wise Card” or “Wiser Card” in the tagline? That might also help people remember the name as even without understanding the etymology it at least sounds sort of similar. Just some thoughts - do test that on others though, maybe in focus groups! (I thought you were German from your accents and names but didn’t want to assume, it’s often hard to differentiate between Germanic accents in English!)

UnicornMan wrote:
Hi guys, I prefer VitraPay. You have the Halo effect from Apple Pay, Google Pay, Samsung Pay etc. Your idea is quite similar to what they do as well, but with an AI element. As you say, community research is important, so you should get some more opinions :slight_smile: @Fean0r also makes a good point on the Vitra part. It doesn’t stick with me either, perhaps because I don’t know what it means. Is it latin? The other things: I’m not a fan of your logo. The circular border and sharp corners of the V feel out of fashion. It reminds me something that would appear on the chest of an arch nemesis to Superman. Your strapline is “Pay with the best card everytime“ which isn’t very catchy. Monzo has “Banking made easy”, Revolut is “a better way to handle your money”. Straplines are extremely important for online advertising. You could come up with something like “one card to rule them all” or “the future of payments” - something aspirational which intrigues the reader. Not sure about the card design in the long-term, it’s half Monzo and half Starling. I get that it will attract attention when I take it out to pay for something, but I feel eventually you should move to a classier design. Hope this feedback helps.

UnicornMan wrote:
As I was writing my comment you published what “Vitra” means. Nice story, still not sure about it though :slightly_smiling_face:

Fean0r wrote:
I love “VitraPay”. It also rolls off the tongue of a native English speaker better: a hard “C” after “ra” might be fine in German because of the way the German-sounding “r” is formed further back in the mouth, but the English “r” is formed more with the tongue and lips so for me the two sounds sort of get in the way of each other. This isn’t a problem with UnicornMan’s suggestion though. I also really like “One Card To Rule Them All”! I’m unsure about it as the main strapline as it could give your brand a permanent Lord Of The Rings association but it would certainly make a great slogan for your adverts. I can imagine you having a bunch of different adverts on the London Underground featuring all of the above slogans.

Fean0r wrote:
Unfortunately “One Card To Rule Them All” has been taken by Curve :confused:

FlorianWinkler wrote:
Yes, “One Card To Rule Them All” was also the first strapline we came up with, until we came across a competitor with a similar offering that uses this phrase. Somewhat disappointing as I think it would fit VitraCard a lot better as it really rules the cards with the automatic selection process and analytics. I like “The future of payments” more than “Pay with the best card everytime” but it may also be too meaningless. This is something I thought a lot about in the last weeks and I don’t think we will stick with our current strapline. We are definitely open to suggestions in this regard too. I really like VitraPay, we thought about potential branding changes for some time now and we will revisit this topic after completion of our Crowdcube campaign. I am not sure about the logo, I actually like it, but this is a very subjectiv topic. Do you mean our standard flag card design? We offer 4 different card designs, and I think besides the flag design which tries to propagate the feeling of a “digital” card, the cards look pretty classy. I think the flag design might not be the best for a broader audience but it definitely stands out, which is something early adopters will value in my opinion. Please feel free to give us more feedback, we take your input very seriously. I still think its important to not get stuck on these branding details at our current stage.

VitraCash wrote:
I like Vitra. Memorability is not the only thing to consider. It’s also uniqueness. Just think about Uber. I still can’t pronounce it right in English and I know them for 10 years now. The uniqueness of a name brings in the opposite direction. You hear the name and instantly think about us. Which is in my opinion more important than just remembering it straight away. That being said the Cash part is definitely something which requires more thought. We like Pay too and we even discussed this internally before launching here. But there were far more important topics so we moved it ahead in time.

Fean0r wrote:
I think you’ve done the right thing by not getting to stuck on branding yet - develop the product first, then consult with people like us before settling on branding. But I think whatever you go with at launch you need to stick with: too many companies fiddle with branding and logos after launch and I think that’s a mistake. Personally, I also think that if people like a service then the branding and logo aren’t as important as people make out as long as they aren’t terrible - and I think I like Vitra because of the story behind it, as well as the logo. Something my (German) wife pointed out to me yesterday is that VitraPay might be too close to Visa’s German (or Euro area, but I’ve only really seen it in Germany) V Pay? I don’t really agree. But it’s a valid point that it needs to be sufficiently distinctive, and I think that the logo is sufficiently different that I didn’t think of Visa or V Pay at all until she suggested it.

VitraCash wrote:
Interesting. I didn’t think of V Pay either. I know it but I would never think about it actually. Is it really a big thing? I am not sure if it’s a problem or not. As long as “Vitra” is the main focus and we don’t intend to shorten it?

Fean0r wrote:
Well, as I’m sure you know it’s widely used in Germany - but hardly anyone knows about it in the UK as it’s a Eurozone thing. It’s more likely to be an issue for EEA/Eurozone marketing than for UK marketing, I think - but I really don’t know whether it matters at all.

kuririn wrote:
Food for thought. Almost all of the biggest brands have one word in their name. Even TransferWise recently changed its name to just Wise. Google Pay/Apple Pay is a “subsystem” of the Google brand - not a standalone name. Maybe just Vitra? I know it will be a problem with a domain name, but right now there is a lot of new domain TLDs that are not reserved yet (namecheap has a bulk checking tool for different TLDs). Some startups also use domains like getBrandName.com

sunbeam007 wrote:
Hiya I like the idea but not the brand name. It doesn’t sound clean or snappy or something a young hipster type might carry like curve, chip or plum. But that’s just my opinion. I don’t like the card design either. doesnt look sleek. Ta

UnicornMan wrote:
Hi guys, thanks for addressing my points. I would say my strongest opinion is on the brand name. I’d bet money on VitraCash not winning in a poll vs VitraPay or Vitra or any other good suggestions. On the logo and card designs feedback, maybe it’s just my personal preference so wouldn’t be surprised if I’m wrong. I didn’t realise you offer 4 different options. Where can we see the 4 alternative designs?

Fean0r wrote:
The more I think about it, the more I like just “Vitra” for the whole system? I was wondering as well about the card designs but I stumbled across them yesterday - on the main raise page, where the video is there are three dots below the video, you can tap/click to the third dot and that shows the different card designs.

Marnee2000 wrote:
Now, a “transparent” card - that would (I think) be novel and that other people would be interested enough to ask about it - like they do about my curve card with no details on the front except “Investor”! Re the brand name - It’s (probably rather strangely) one of the first things I look at when considering investing. Some are downright bonkers and some completely forgettable, but it is also so important that it can’t be confused with another product. There’s a new health product called Super U and I thought initially it was a new product from the Super U supermarket chain, which it isn’t! Glad to see this isn’t set in stone at the moment.

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