When naming a business you are not only giving it a name, you are building a future for your company. Check out some great times for naming here.
Naming a Business or Building a Brand, Which would you like to do?
In the past I have posted several blogs about naming a business, naming a restaurant, naming a fashion company and naming a technology company. These blogs discussed some pitfalls to be avoided (e.g. regional naming if you are looking to expand) and some places to look for inspiration (e.g. classic literature or ancient gods and goddesses) and sources for great company name ideas.
Naming your company should not be looked at through the prism of problem solving rather it should be looked at as a conversation — a conversation where you are conveying your core goals, values and purpose.
Let Brandings help you in that initial conversation. If you have any questions about this blog or about what we do and how we do it, please contact the Brandings Team.
Our guest columnist today is Phillip Davis, CEO of Tungsten Branding, one of the truly great naming architecture firms.
And, in honor of the World Cup finals — here are some of our available football or soccer business names:
Do You Want to Create a Company Name Or Build a Brand?
By Phillip Davis
When confronted with naming a company, most business owners fall into one of two groups…
- Those trying to solve a naming problem
- Those trying to convey their company image
The first group views company naming as a set of hurdles (i.e. clearing trademarks, obtaining a matching domain name, finding a name that’s short, finding a name that can’t be mispronounced, finding a name that begins high in the alphabet, etc.). In other words, it’s more about a fix than a process. It also tends to be short term focused.
The second group is less concerned (initially) about the name. They are more concerned about capturing the essence of their company, and then translating that message through a viable brand name. This group typically takes a long-range approach, looking at a variety of concerns, and how to prioritize them.
The first group focuses on the solution, the second group focuses on the process.
This also explains the wide range of pricing when it comes to name development. For someone simply wanting a handle for their business, it seems ludicrous to pay tens of thousands for something anyone with a dictionary can (supposedly) do. This type of customer might be better served by simply shopping some of the domain name market places, such as BuyDomains.com, Afternic.com or Sedo.com. They can look up potential names by category and search available choices.
The second group is not so much in search of a name as they are a brand. More than just a moniker, they want the name to mean something. They want it to convey an emotion, capture a position or create further intrigue. In other words, the name serves as the beginning of the conversation, an introduction, which segues effortlessly into a deeper discussion of the company’s products and services.
This often requires first digging deeper into the company’s core strengths and finding its “pivot point,” or that common thread that runs throughout the organization. It might be service excellence, superior quality, dependability, innovation, etc. Ideally it should be based on the company’s attributes vs. its products (which tend to come and go over time.)
Creating a company name can get a business owner out of a temporary bind, but leave him or her with little or no story to build upon. It often creates a “huh?” response (or no response at all.) Building a company brand can provide a firm with not only a compelling name, but also a future platform that will accommodate continued growth and expansion. It creates interest and often leads to a “tell me more!” response.
So before sending out requests for company naming proposals, first determine if your objective is simply a short-term workable name or a long-term build-able brand. The first is functional, while the second is foundational.
- Phil Davis is president and owner of Tungsten Branding, company naming consultants specializing in brand creation, product naming, tag line development, corporate identity and comprehensive brand repositioning. Phil’s client list includes PODS, Team Logic IT and Sea Of Diamonds to name a few. His complete client list and company naming philosophy can be viewed at PureTungsten.com Article Source: EzineArticles Expert = Phillip Davis
Do you have any questions or comments about this or any other blog, well please let us know. Send us an e-mail and let us know!
Update: We can not agree more with the idea of digging deep into your companies core goals, strategy and services to find the perfect name. Since this article was posted several years ago Brandings has grown into one of the large naming companies for small and mid-sized business on the web and we would love to share some of our knowledge with you.
With our Custom Company Naming we give everyone a naming questionnaire that asks specific questions about your company that everyone should be able to answer. Some of the questions include:
1. Briefly describe your business concept to someone who has no knowledge of your company:
2. Describe the need being addressed by your business:
3. Describe your target market — gender, age, geography, and other demographic characteristics:
4. Identify 10 or more words that you would like to communicate to your consumer about your company:
To check out the entire Custom Company Naming Questionnaire just follow the link and if you have any question please let us know by posting them below.