What’s in a Name?
Seven tips for finding the perfect company name
We think, there’s a lot that should go in the process of developing a name for a company or a product. It’s not a task to take lightly, nor is it wise to rush to a decision because business cards need to be printed or the website is ready to launch.
1. DON’T DESCRIBE — DIFFERENTIATE
The biggest mistake companies make is being too literal with their names. A name should not attempt to simply describe; it should have the ability to suggest the essence or values of a company. Also, what’s important is, to always look at a name with your customer’s eyes. They may perceive a name differently than you do. Customers tend to respond more to emotional clues than dry descriptive terms. Ask yourself, would you rather buy a computer from “Jobs Computer Systems” or from “Apple”?
2. AVOID XYZ
Names that are composed of initials are difficult to establish. They tend to get lost in the marketplace clutter without having a legacy like GE or IBM.
“A no-name name is the corporate equivalent of a disguise.” — Jack Trout
3. RESEARCH, RESEARCH, RESEARCH
The more data is available, the more likely you will be able to avoid the bias-trap. In early stages of the naming process, it happens quite often that a favorite name gets tossed around which then leads to tunnel vision. Data allows keeping the focus on the larger picture.
4. IF IT’S TOO OBVIOUS — FORGET IT
The most successful names over the long-term are often those that are initially the most polarizing (think Google, Amazon, Apple, Starbucks). A name that is too obvious will only support the category but not the brand itself. When you select a name, you are looking for something to punch through the media clutter, not add to it. The objective is to stand out, not to blend in.
5. BREVITY IS KEY
One word brands are most effective. The shorter the better. Lengthy, multiple word names lead to truncation. When people mess with your name, you lose control over your brand.
6. CONSUMER OR EMPLOYEE TESTING NEVER WORKS
While they are often well-meaning, they do not result in names that are based on the appropriate strategic rationale. To quote Henry Ford: “If I had asked people what they wanted, they would have said faster horses.”
7. IT’S A GLOBAL ECONOMY
Make sure the name also works in other languages. Nothing can be more embarrassing if your hot new company name spells something weird in Chinese or Spanish. Remember “Rolls Royce Silver Mist”? They had to rename it to “Silver Cloud” once they found out that “mist” means garbage in German. An expensive adventure.
Thanks for reading. Yours, Marc Posch
At Opus Creative Group — with partners in Munich and Paris — we offer the combined expertise and firepower of a well-calibrated team of experts, and with it a broad spectrum of creative services, from Brand Consulting to Brand Development and Digital Branding. With 20+ years of experience in the tech and manufacturing sectors, we help our clients define their brand story, and we help them achieve success.
Feel free to contact me if you want to learn more about us or discuss a new project. A 30-minute consultation is always free, coffee included.
Contact +1.213.446.7986. Or visit opuscreativegroup.com Thank you.
