A good company name defines who the company is and what it offers. The name sets the tone for the business and cues people in on what it does. Sound important? Absolutely, and that’s why it’s critical for businesses to choose a name that’s impactful and easy to remember, but also conveys what the company does. Choosing a name is a lofty task, but a company name is often the first impression of the brand and is therefore a critical consideration for success.
There are a range of methods that can be used to choose a name, but what’s most important is to approach this process systematically rather than emotionally or politically. It can be easy to become attached to a name, but business leaders must evaluate whether that name helps to tell the company story and sets them apart from the competition.
Dos & Don’ts
So where do you start? First, consider tips and pointers from the experts. In an Inc. article titled “5 Things You Should Never, Ever Do When Naming Your Company,” brand strategist Steven Mason shares his Dos & Don’ts for the naming process. Following is a paraphrased list of key considerations:
Best Practices for Naming a Company
Next, outline what’s important to convey in the name and begin the brainstorming process. We’ve played a role in helping companies craft compelling names and through our experience we’ve found the following process to be the best strategic approach to naming a company:
Understanding Different Types of Brand Names
Finally, if you’re stumped after defining the key attributes and looking for some inspiration, Lorraine Carter at branding firm Persona Design provides an overview of the top brand name creation categories in her blog post, “Brand Naming: Top Ten Methods for Brand Name Creation.” Following is a summary of types of brand names:
As mentioned previously, there are a range of methods for selecting a name, as well as various considerations to take into account. That being said, having a process for measuring names is crucial to success as it removes emotional or political bias that too often comes with such processes. What tips do you have for crafting a compelling name?Tags: Branding, Naming a Company, Naming Methods, Systematic Approach