6 Recommendations For Choosing a
Name For The Company
The word “naming” has recently entered our vocabulary. And even then it is mainly used by those who are considering how to name their company, project, trademark, or startup. And it comes from English to name – “name”.
So, naming is the process of developing a name for a particular product. It would seem that there is nothing easier than to choose the one you like most from a huge number of words. But when it comes down to business, it turns out that this is far from easy. And there are a lot of nuances that pop up only when we begin to do this closely.
It’s like wanting to buy, for example, new shoes. Theoretically, it is simple, and it seems that the main thing is to have the right amount. But when we start practicing and go to the shoe store, it turns out that: there is no our size, the color you want, the shoes that we fell on, an uncomfortable shoe, we want casual shoes for a business suit, and we are offered evening options. And as a result, we spend a lot more time on the purchase than we initially expected.
The process of choosing the right name for a startup or company is slow, painstaking, and complicated. Employees with a creative approach to business are working on many ideas in order to choose the one and only one.
True, sometimes the developers are not philosophical and, choosing a name for their startup, are guided by the old belief: “As you name the ship, it will sail”, according to which “Swift”, “Clever” and “Reliable” sailed across the seas.
Those who called their companies, retail chains and establishments “Vstrecha”, “Chamomile”, “Melody”, “Products”, “Fabrics”, “Do-it-yourself”, etc. did not think too much. These uninteresting identical names have recently met in almost every city, and in general, they pursued one goal: to indicate where you can buy a particular product or get a certain service. And since there was no particular choice, there was no competition. This means that there was no need to strain, trying to attract buyers or customers to your product.
Now, the founders of companies, start-ups, etc., understand very well that a wrong name will cost them too much: time and money spent on advertising and product promotion will be thrown to the wind. In addition, new costs for changing the name and its promotion will be inevitable.
What is the purpose of naming?
The successful name of a company, startup, or trademark contributes to a considerable degree to the promotion of a product in the market of goods and services and sometimes provides half the success. Conversely, failure can push consumers away, forcing the brand to leave the market.
An example is the French brand Bledina, under which baby food was produced. It was successfully delivered to Europe, but when promoting the Russian market, the brand failed: sales were low, as the name of the product caused negative associations among Russian mothers. Thus, an unsuccessful or inconsistent name may well become an anti-advertising project.
The competent developers of the startup’s name understand that it is an important marketing tool, and not just a beautiful word or a combination of words.
- come up with a name that would be unique, memorable and at the same time reflecting the specifics of a startup ;
- to attract a specific target audience and cause the necessary associations in it;
- focus her attention on the advantages of her startup over competitors.
At the same time, in order to avoid legal misunderstandings, the name should not be repeated or be similar to existing trademarks, brands, startups.
The decision to name a startup is often made through brainstorming – a brainstorming session involving a group of creative employees who generate a large number of ideas.
True, some business founders think otherwise. In their opinion, everything is much simpler – the main thing is that the project is successful and profitable. And in this case, whatever you call it, it will fill any word with meaning.
An example is Apple, the name that was chosen very quickly: it had to start with the letter A in order to immediately attract attention in the phone book. (True, the choice turned out to be successful also because the bitten apple symbolizes the fruit of knowledge.)
The names of such large companies as, for example, Samsung or Nokia can serve as an example – the average buyer prefers their products because of their quality, rather than some meaning inherent in the name.
Thus, a good name can serve both good and bad service, but the quality of the proposed product is no less important. If it is no good, then the beautiful name will not save.
What are The Main Principles To Be Observed When Naming?
The title should be:
1. Readable and easy to pronounce
Ideally, it should consist of one or two short words. It must be borne in mind that it will be reflected in the trademark, logo, letterhead, etc. In addition, in long words, it is easier to make a mistake.
It is desirable that the name of, for example, a store coincides with the domain name. Unfortunately, this does not always happen, which greatly complicates the search, causes confusion, and annoys customers.
An easily pronounced word is easier to integrate into colloquial speech. For example, it’s much easier to say, “Bought on Amazon,” than “Bought on Eichendem.” (True, the unpronounceable name of the latter does not make this brand less popular.)
The founder of one of the naming companies, N. Javed, in the article “Psychoanalysis of the company name” wrote: “In business, as a rule, the name consists of one word. Of the two – it is doubtful, of the three – it is difficult. Out of four? Why don’t you stop the business first? ”.
2. To convey the essence of a startup
The name may indicate what the developer does or what offers, what he seeks to become, or what he wants to see his customers. It can talk about the benefits that the project encompasses, its relevance and importance to consumers, or call them to action. For example, “Instant loan”, “Reliable transport”, “Cerberus” (security agency);
3. Arouse positive emotions or associations
Or not cause negative ones. For example, the well-known Amazon online service was first called Abracadabra but then changed to Amazon, since the lawyer of the company’s founder heard Cadaver (“corpse”) at the end of Cadabra. Positive emotions and associations evoke such names as “Three Fat Men”, “Beloved Home”, Twitter (from “Twitter”), Intel (“intelligence”), etc .;
4. Be bright and memorable
Often, the names of their founders are used as project names. According to statistics, almost half of the most expensive brands in the world are associated with their name: Davidoff, Ford, Adidas, Disney, Tinkoff, etc.
And the founders of Blue Ribbon Sports, who planned to launch a new line of soccer shoes in search of a creative name for her, settled on the name of the winged Greek goddess of victory, Nika. As a result, they changed the name of the entire business from the boring Blue Ribbon Sports to the vibrant Nike.
There is an opinion that the success of the online service Amazon.com is to a large extent ensured by its name, which implies that the company solves all problems from A to Z and indicates the scale of the project. In addition, Amazon is an unusually full-flowing and longest river in the world, and the slogan Amazon: “The largest book store on Earth.” Who knows, if the store was named Bookshop, would it become so popular?
5. Take into account The Peculiarities of International or Interethnic Use.
For example, it would be a mistake in a Muslim country to promote a startup called “Three Little Pigs” or “Wild Boar”.
In cooperation with foreign partners, it is worth considering how the name will sound in another language, whether it will have indecent meaning or subtext and whether it will become a cause for funny things.
For example, in the late 90s, large-scale advertising of bottled water Blue Water (“Blue Water”) was launched as the cleanest water in the world. Enjoying popularity on the domestic market of Germany, this clear water provoked the opposite reaction among Russian consumers due to the unsuccessful sounding of its name in Russian: “I bleat vote”.
Coca-Cola Company, whose name we pronounce as “Coca-Cola”, changed it to “Coca-Cola” in the Chinese market, because in Chinese it sounded like “bite the tadpole”. The second, new, means “happiness in the mouth”;
6. Do Not Repeat Existing Names
It is clear that this is fraught with the fact that the founders of the company, the startup, the brand will be accused of plagiarism, customer withdrawal, and other sins, for which, in the event of a loss of the trial, they face considerable fines.