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When it comes to corporate branding, the more unusual the name, the more memorable it seems to become. If that's the case, the company formerly known as Network Liquidators should pick up a bit more business.
Barry Shevlin's Oldsmar-based firm, which sells new and refurbished high-tech equipment, became known as Vology Data Systems earlier this month. Shevlin, who was the Review's 2008 Entrepreneur of the Year, worked with Tampa-based Schifino Lee Advertising & Branding to conjure the name, which combines “velocity” with “technology” to describe the company's strong suits.
Shevlin says the name change became necessary because of the bad connotation related by the “liquidators” part of the name. “It's a fresh start for us in that respect,” he says.
“One of the things a name has to do is reflect the key attributes and characteristics of the company,” Paola Schifino, principal of Schifino Lee, told Coffee Talk.
Hundreds of names were considered, and Schifino said her firm immersed itself in the company's activities to determine the definitive brand. She won't say how much Vology paid for its new moniker, but noted that its true value will be determined over time.
Founded in 2001, Vology posted an impressive 366% sales growth over a three-year period ending in 2008, ranking it among the Inc. 5000 last August for the fourth consecutive year.
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