Branding is critical when it comes to differentiating products. As an experienced Chief Marketing Officer, I’ve heard my fair share of company names – and understand their importance. A company name needs to resonate instantly. If you need to explain it to someone, you’ve already lost half the battle with your audience regardless of whether you’re talking to media, analysts, potential investors or customers.
Often, thinking up a company or product name can be all encompassing. You start writing down words that might make a good name and the next thing you know, you’ve spent several hours on this project when other things needed your attention. When taking on the task of creating a new company name and making certain it garners the excitement and other attributes you hope to convey, there are five key factors to keep in mind:
Include Everyone
When rebranding a company, everyone needs to share the excitement and feel as though the company builds on their own personal mission. Be certain to inform the employee base that a new brand and name is coming – and of the processes being used to determine the final decision. After decisions are finalized and the new brand is announced, provide additional insight into why certain names weren’t chosen, how the process landed on the name chosen and what the company hopes to accomplish with the new brand.
Every Name Needs a Story
Before selecting a name for the company, think about what you want that name to convey, what the story behind the name is. If there is no natural fit, build a story for the name. A name should be simple both in how it is said and what it means.
Be Visual
Every company needs specific visual cues beyond its logo. Have your employee base suggest where the new logo, fonts and other elements should be used in/around the office. Give them the ability and the tools to use the new brand in everyday communications, which will help them adjust to it.
Repetition is Key
Find ways to “over use” your name at the beginning. It is not necessarily going to roll off your tongue and it really won’t for those who were not part of the naming process. Get everyone who engages with your brand using and hearing it at every company function and reading it in every correspondence. The more it’s ingrained, the easier it’ll be for them to use it.
Location, Location, Location
Where do you want to see your name? Have you considered international and cultural meanings of the name? There are the basics like your invoices, corporate collateral Powerpoint decks and payroll checks, but what about social media properties like Facebook and Twitter? Is your name taken? Add “inc” or “llc” at the end and leverage SEO to build your site’s equity in Google’s algorithm.
It’s important to remember that there will always be some people who will not love the name—and live with that. Names are very personal. Make certain that it does what your company needs it to do and don’t worry if there are a few grumblings. Before you know it, the new name will feel like “home.”