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August 28, 2007

11:04 am | 0 recommendations | 9 comments

Leadership: What's The Matter With WaMu?

| posted by Ruth Sherman

I have been struck by the branding effort by Washington Mutual to reduce its name to WaMu. Washington Mutual is the monster financial institution and retail bank. When I was traveling in California recently, my two kids, both teens, had a field day shouting WAAAAMUUUU! as if they were caged animals every time a commercial for it came on. They then would laugh. It does sound like an exotic creature one might find at a zoo. And I don’t think that’s the bank’s intention.

The problem with the word is that it blends two sounds that sound ugly and unpleasant when combined in such a way. It doesn’t sound like English. Washington Mutual actually holds my home mortgage so I’ve been aware of the WaMu thing for some time. It’s been their domain name for years. But now it looks as if it is embarking on an effort to replace what is an elegant sounding pair of words with something much less so.

I suspect this is a result of current thinking in marketing that shorter is better than longer. The words Washington Mutual are a combined six syllables whereas WaMu is only two. Perhaps they were thinking of others who have done it successfully: International Business Machines became IBM, Macintosh became Mac and even Dairy Queen is headed toward the abbreviated DQ. It is also the result of our wish for ease when thumbing those text messages. I mean it would be difficult to type out Washington Mutual each and every time. Maybe WaMu is a result of insiders’ shorthand.

Still, wherever it originates, I don’t like it. It just doesn’t sound right. Why would I want to go to a bank named WaMu when I could go to one named Washington Mutual? Why would anyone go to WaMu when they could go to Fleet or People’s or Chase or Citi? Every single one of those sounds a lot better and more like a place I would like to do business.

What do you think?

Ruth Sherman • Ruth Sherman Associates, LLC • Greenwich, CT • www.ruthsherman.com

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Recent Comments | 9 Total

August 28, 2007 at 12:55pm

Tony Taylor
I agree that it sounds terrible...But business always seems to be fascinated with what they perceive as cool. Should have polled the customers and got buy in. Now that would have been cool. Tony
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August 28, 2007 at 1:10pm

alycia de mesa
Because in the quest to come up with A) an ultra short name that B) retains brand equity and recognition and C) doesn't limit it to one geographical location and D) has aspirations to worm it's way into modern lexicon and notoriety a la Fedex...we get WaMu. Ugly? Oh yea. Every company's dream? You betcha.
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August 28, 2007 at 4:43pm

Andy
I don't have a hard time with WaMu vs. the longer name. Their marketing positions them as different from the "big guys." Washington Mutual definitely sounds more corporate than the casual WaMu. It also reminds me of the little abbreviations we all make up to talk about the everyday places we frequent. So maybe they intentionally decided to sound informal and somewhat unpolished to contribute to the impression that they're smaller than they really are.
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August 28, 2007 at 9:10pm

sagar
Ruth, I also hold my accounts at Washington Mutual. As a customer there, I'm sure you can tell that WaMu has been trying to separate themselves from traditional banks for some time now. From their floor plan to their successful foray into high-yield, online-only banking, WaMu clearly wants to change their approach to the brick & mortar, personal/small business banking construct. A point of strategic differentiation, perhaps? In keeping with this shift, wouldn't it be appropriate for them to change from Washington Mutual to WaMu? Sure, it's not sonorous, but it surely sounds less "old-school." When I hear someone say, "Washington Mutual," I think of an old, asbestos ridden building in the city with tall, Corinthian columns. On the other hand, when I hear, "WaMu," I think of a more personable bank that is fresh. Now, I can see where being "fresh" in the banking world may be a sign of risk, but that is a chance that WaMu is clearly willing to take. -Sagar
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August 28, 2007 at 10:40pm

Mike Branch
Or maybe they just decided to go along with what we here in Washington have been calling the bank for as long as I can remember...
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August 28, 2007 at 11:49pm

mina
Good leadership is like establishing good brand name in the market. WAMU is by far an unlikely name to begin with, and not a name I'd like to use in my business either. This is I guess one example of the phrase "shortcuts" are not always good.
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August 29, 2007 at 12:01am

JP
It is ugly but then it is that fact that makes it so distinctive. The sound is also childish in an effort, I suspect, of making the bank sound simple, user friendly, familiar, and easy to use. Perhaps even innocent. As opposed to the more stoic and aloof Washington Mutual. I suppose it all about the target market. I don't think WaMu is marketing to anything other than the layman, while Washington Mutual shoots for the rest of the market.
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August 29, 2007 at 12:32pm

Chris
If they would have gone with a Wa-mew pronunciation vis-a-vis the Wa-Moo pronunciation, it would have been a bit more palatable.
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August 29, 2007 at 2:42pm

Aaron Tikkoo
Ruth, I bet the kids would have exclaimed the same way had they been raised when Yahoo was born. Does Yahoo sound English or Google or Ikea. I wonder how some of the top rataed brands like Gucci, Apple, Orange, Yahoo, Ikea or Google don't sound ugly or too kiddish too you. It's a Global Village out there, Branding is all about, recognition, retention and repetition. Cheers Aaron
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