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I know that they have been afraid that GoTo could be mixed up with names like Go2 and Go, but still, I really don't see the point in changing a well known and popular brand.
According to the press release "Overture was chosen based on its ability to communicate the company's compelling advertiser and affiliate partner benefits. One definition of "overture" is an introduction, and, therefore, it is a metaphor for the targeted introductions the company facilitates between its 45,000 advertisers and the 62.5 million consumers who use its tens of thousands of affiliate partner sites."
The [overture.com...] site will redirect you to the press release.
What they really need is some good advertising. Maybe the people who did the mystifying Accenture (formerly Anderson Consulting) ads can help them out... ;)
They clearly have too much money - rebranding will cost them millions.
I would love to have heard the board of directors discussing this initiative.
We might be reading about this in 5 years time, when it appears as one of the most ill-advised, unwarranted and unsuccessful rebranding exercises of our time.
The next initiative will be to stop using the GoTo domain name as a redirect to their new site! My God, I'd love to see them try.
"Dear GoTo Advertiser:
We're excited to let you know that, effective October 8th, GoTo will become Overture Services, Inc. This new name reaffirms our market leadership in Pay-For-Performance search and online marketing.
Although our name will change, the quality and volume of targeted leads will stay as strong as ever. More than 95% of the traffic you currently receive from GoTo is delivered from our extensive network of partners, including America Online, Terra Lycos and AltaVista. The remaining traffic, which comes from users visiting the GoTo homepage (www.goto.com) will automatically be redirected to Overture's new homepage beginning in October."
Looks like the search traffic will be redirected to overture.com and not stay on goto.com. Very dumb move if you ask me.
Certain statements, including, without limitation, statements regarding the Company’s name and stock symbol and the change to the new name and stock symbol, financial and operating performance and agreements with distribution affiliates and statements regarding advertiser and affiliates in this news release constitute "forward-looking statements." These forward-looking statements are inherently uncertain. Actual results may differ materially from these forward-looking statements due to risks such as the risk that the Company’s key performance metrics, including overall traffic and use of the Company’s services, number of paid clicks, average price per paid click, number of advertisers and average spend per advertiser might not continue to increase at historical rates; the risk that consumers may not appreciate the Company’s search service; the risk that the Company’s affiliates, advertisers, partners and investors may not recognize the Company’s new name or ticker symbol, associate the Overture name with the Company’s historical business or associate the Overture name with its intended message; the risk that the Company may not have exclusive rights to the Overture name or Web site or be able to defend the Overture name or Web site against other users, the risk that the cost of the name change may be more than expected and the risk that affiliates may continue to perceive the Company as a consumer destination site.
Anderson Consulting was kind of an old stodgy name and Accenture could be an improvement over the long term, but no this.
I have had clients who don't know a search engine from a petrol engine asking me for more info about GoTo because of their marketing efforts.
Now, with growing awareness, they change their name. I will look with interest how they will market this new 'brand'.
:)Let's hope they don't use a 'Meta Refresh' to redirect to their new domain, because as we all know, Meta redirects are banned by most major search engines. Surely this will result in all their 'partners' banning their new site!! (if only...):)