Let’s pull our name out of a hat.
What’s in a name? “We’ve got pedigree and limitless funds it doesn’t matter what our new company is called. We’ll market the hell out of it and raise awareness quickly. Let’s put our favourite names in a hat and take it from there.”
Not investing in creating the right name for your business is tantamount to taking a multi-million-pound product, wrapping it in a remnant of last year’s Christmas wrapping paper and posting it in July to a hot prospect in the hope that they (or their PA) share your love of Christmas/recycling/the obscure. (Not forgetting the overly zealous office security guard who considers it their duty to destroy suspect packages.) You just wouldn’t.
Your business name is a valuable asset. Ignoring this is negligent at best - missing an opportunity to turbocharge a proposition. At worst it’s reckless - putting a business in needless jeopardy.
Signals your point of view & difference
(Apple, Starling, RobinHood)
Identifies your sector expertise
(Virgin Galactic, Space X)
Builds trust using your heritage
(Unilever)
Highlights customer benefit
(Instagram, PayPal, Linkedin)
Describes what you do
(OpenAI, SoundHound)
Difficult to pronounce in your target markets – “sorry, who??”
Unmemorable – which is especially problematic if you don’t have a big marketing budget or direct access to your target audience.
Culturally inappropriate – equivalent of sending Christmas packaging to a Hindu customer
Conjures up the wrong associations – Risskey (safety equipment co.)
Confuses – “oh I thought you were a FinTech”
Limits growth potential – Dollar Shave Club
Leads to expensive lawsuits – copyright infringement and emergency re-brands
We do understand that the naming process can be daunting, especially if you’re global, but partnering the right expert will minimise the risks and maximise the returns.
If your Board are insistent on using a hat, then make sure they pull out a rabbit by following our guide.
How to create the right name for your business - coming soon.
Strategy
Sharpen your proposition using intelligence, insight and intuition.
Research & insights
Positioning, purpose & values
Architecture & naming
Messaging
Stakeholder engagement
Engagement
Empower and inspire by making the brand meaningful to those that matter most.
Strategic planning
Workshops
Launch events
Staff communications
Training/coaching
Direction
Keep strategy front and centre so your brand is always relevant and distinctive.
Brand reviews
Agency workshops
Pitch management
Implementation planning
Strategic consultancy