Reaping the benefits of doing what it says on the tin

We’re always delighted when a client (and friend) wins an award. So then, congratulations to Pete Chadborn at Plan Money, who was called on stage at the Health Insurance Awards to receive the ‘gong’ for Best Protection Intermediary.

Standing-up Pete received the award from that other notable comedian Tim Vine who, upon clocking the name of Pete’s business, was heard to say: ‘Plan Money, what a great name, it obviously does what it says on the tin’.

We may be the agency that helped breathe life into both the ‘name’ and the ‘tin’  but Space01 needs to make it abundantly clear that we claim no part in Pete’s glory. Plan Money is a tremendous business and this award goes to show that hard work has its own rewards (and awards).

However from a marketing perspective it is interesting to think about what’s in a name and a brand. The protection sector has always had some very descriptive brand names on the times. After all what could be more prudent than ‘Prudential’ for starters, and what more could anybody want in times of duress than Refuge Assurance.

It’s interesting too how brands transcend time. Back in the day presumably Scottish Widows was set up to look after bereft wives living north of Hadrian’s Wall following the Napoleonic wars. Only a few years later Legal & General was set up by five lawyers at the Inns of Court in London (Wikipedia doesn’t mention who the General was!) Over time, synonymous with the products they offer and the excellence of their delivery, they have developed an appeal across the entire market.

These days of course you probably wouldn’t start any business with the word ‘Widows’ in its name.  This perhaps goes to show that few entrepreneurs expect their business to be still going strong 199 years after inception.

Yet think about it and why shouldn’t Plan Money stand the test of time as a brand? Within two simple words it exactly sums up the consumer requirement for control of their resources and lives in an uncertain society. Furthermore it does so in a positive way that encourages people to take pre-emptive control of their destiny. Finally it’s a very exact and easy proposition to take to market.

We wish we could say that we thought up the name. Actually Pete and his business partner Pete Wright already had the idea when they came to us.