Naming your business is not easier than naming your child. The right name is easy to say and timeless. It might not mean something deep, but it is memorable.
I like to introduce or recommend brands and products to my friends. But when the name is unpronounceable (to an English as a second language person) I either have to describe this product based on how I remember the packaging or I have to say “Never mind”. Needless to say how important a name is – if you value word-of-mouth marketing.
The weirdest name that I’ve seen (so far) is Godaddy. I don’t understand why it uses Daddy but it works. I do remember it. Looking forward to another brand that names ComeMommy.
Danny Altman – Founder and Creative Director, A Hundred Monkeys says “The right name captures the imagination and connects with the people you want to reach.” So I wonder if Godaddy attracts stay-at-home dads too? Having said that, Apple isn’t selling apples either. So there really isn’t a clear line, is there?
To be a good name for a business, it needs to have these qualities:
1. Is it meaningful?
It should communicate the essence of the brand or the service it provides.
2. Is it easy to remember, pronounce and spell?
I still don’t think I can properly pronounce Fage my favorite yogurt brand after 5years. Hoegaarden, is it pronounce hoe-garden? Apple, however, I think many people can remember, pronounce and spell.
3. Is it easy to share on social networks?
Imagine you want to share a brand on social but you just can’t figure out how to spell that word because it spells like Zjoiuhkkjgr.
4. Does it give the company opportunities for future brand extensions?
Having a name that doesn’t allow for any extensions is like having a pair of beautiful shoes that don’t go with any of your clothes.
5. Can it be owned and trademarked?
Obvious, isn’t it?
6. Is the domain available?
You might not need a website for now. But I trust one of your goals is to expand your business and when you do, you will need a website. It can be troublesome when your customers type in your name on Google and the top results are other brands or services.
7. Does it have positive connotations in the markets served?
I have witnessed many foreign brands that translated to the Chinese market become funny words or have negative meanings, and vice versa. It’s important to know the market you serve and the location’s culture.
8. Is it visually developable?
Having a name that’s easily developed and designed gives it a better chance to stand out in the market.
Types of names
– Taken from Designing Brand Identity by Alina Wheeler
1. Founder
Many companies are named after founders: Tory Burch, Ben & Jerry’s, Martha Stewart, Ralph Lauren, Mrs. Fields. It might be easier to protect. It satisfies an ego. The downside is that it is inextricably tied to a real human being.
2. Descriptive
These names convey the nature of the business. Good examples are YouSendIt, E*TRADE, Find Great People, and Toys “R” Us. The benefit of a descriptive name is that it clearly communicates the intent of the company. The potential disadvantage is that as a company grows and diversifies, the name may become limiting.
3. Fabricated
A made-up name, like Pinterest, Kodak, or TiVo, is distinctive and might be easier to copyright. However, a company must invest a significant amount of capital into educating its market as to the nature of the business, service, or product. Häagen-Dazs is a fabricated foreign name that has been extremely effective in the consumer market.
4. Metaphor
Things, places, people, animals, processes, mythological names, or foreign words are used in to allude to a quality of a company. Good examples are Nike, Patagonia, Monocle, Quartz, Zappos, and Amazon.com.
5. Acronym
These names are difficult to remember and difficult to copyright. IBM and GE became well-known only after the companies established themselves with the full spelling of their names. Acronyms are difficult to learn and require a substantial investment in advertising. Good examples are USAA, AARP, DKNY, CNN, and MoMA.
6. Magic spell
Some names alter a word’s spelling in order to create a distinctive, protectable name, like Flickr, Tumblr, and Netflix.
7. Combinations of the above
Some of the best names combine name types. Some good examples are Citibank, and Hope’s Cookies. Customers and investors like names that they can understand.
Have fun creating a name for your business to get started and preparing for many challenges to come. Drop an email or a comment if you need help with your naming.
Recommend reading:
Designing Brand Identity -an essential guide for the whole branding team by Alina Wheeler
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