At Retail’s Big Show 2010, presented by the National Retail Federation in New York City earlier this week, one booth that drew attention belonged to a company called Swagg. Swagg, owned by Qualcomm, wasn’t trying to attract people with its offerings, solutions, or technology. It drew them with an open bar and lounge. What the company actually does remained a mystery. Something with mobile?

One of Swagg’s booth attendants told us they were “trying to get the name out.” Presumably, the idea is to pique people’s interest in the brand before revealing a much-anticipated product or service.  

On its website, the company’s entire “About” story says: “Swagg is brilliant, ingenious, revolutionary, and awesome. It lives on your phone and acts like your best friend. Trade gift cards, share points and get hooked-up everywhere you go.” That’s it. The only tangible takeaway is that somehow it helps you trade gift cards and share (loyalty) points. 

Some companies hesitate to say what it is they do in a clear way. They fear that if they do, they will box themselves in and lose potential customers. In actuality, a company loses potential customers when its offerings are not clear. If customers don’t know how you can help them, they won’t ask you for help.

Today, people are more discerning with how and where they spend their money. Most customers are not going to spend on sheer hype. People are distrustful of advertising, no matter how much a product “acts like your best friend.”

As a new company, Swagg is presented with an opportunity. The brand has a lot of energy and drive. But, it is easier starting with a clearly defined idea, rather than reverse-engineering one further down the road.

The risk of not defining yourself is that someone else might provide a definition for you.

According to The San Diego Union-Tribune: “Qualcomm’s Swagg is a software application. It allows the bar code for a gift card to pop up on a cell phone screen so it can be scanned by retailers.” Maybe Swagg doesn’t think that’s “brilliant, ingenious, revolutionary, and awesome” enough.