I see a lot of great Casinos and Sports Betting platforms here that doesn't really have great brand name but have excellent functionalities and quality designs. While some ( not so many) do have both great designs, functionality and perfect brand name, so many majority simply don't. So, I was wondering. If I'm going to spend so much money to build a great gambling platform, why not just spend extra little more to acquire a great name? After all, nothing is greater in business than your brand equity.
What do you think? I'd like to understand the mindset of some gambling operators and start ups. What do you consider to be the most important in your gambling startup? Great name or site functionality or both?
I wonder, does having a good name for a gambling business to be built have to spend a lot of money?
I think the name is not the main thing in building a gambling business, because when you have good functionality then whatever name you have in the gambling business will have a big impact too because you have good service and appearance and not because of a name. So, if you want to start to build a gambling business at least you don't need to think too much about the name first, because giving a name can be thought of at the end.
Everything needs to be done at the same time, if you create a good casino with a lackluster name the casino can still become incredibly successful, however it is known that a great deal of the value of a company comes from its brand name, what it means is that since such a name is already recognized by the public then this holds value as you do not need such a heavy marketing campaign to raise the awareness of your brand.
Which means you need to try to give to your casino the best name possible from the beginning otherwise you will need to go through a rebranding campaign, which is always a messy process.