What’s in a name? When it comes to your enterprise, the response is… quite a bit, according to specialists.
“You have a very brief window to capture a potential customer’s interest and address crucial questions regarding what your enterprise offers,” states Mark Joyner, author of a book focused on naming businesses called The Irresistible Offer: How to Sell Your Product or Service in 3 Seconds or Less. “This is particularly relevant for small enterprises that lack the millions required for extensive branding campaigns.”
The objective is to create a name and tagline pairing “that strikes you immediately,” Joyner explains. The name must be catchy, while the tagline should provide answers to the queries potential customers ponder: What products are you offering? What’s the cost (not just in price, but also in time)? Why should I trust you? What benefits do I get from this?
To determine what name and tagline would work best, consider these questions posed by Cheryl Isen, CMO and founder of Isen and Co., a firm providing on-demand chief marketing officers:
- What characteristics and personality does the company embody? Are you a serious authority? Amusing and quirky? Forceful and impactful?
- Who is your target audience?
- Analyze the competition. What can you do differently or better? How can you distinguish yourself? Be cautious not to select a name too akin to an existing firm.
Think about the kind of name you want. Large corporations with substantial marketing budgets can consider abstract names (like Amazon or Bluetooth—names that convey no actual product details). “It’s considerably cheaper to label a company with a descriptive name and tagline,” Isen suggests.
Some tools for brainstorming your name include:
- Web-based business-naming services like Wordoid.com can assist in generating ideas.
- Utilize a dictionary and thesaurus to kick-start your brainstorming session.
- Enumerate qualities, services, or commitments you aim to communicate to your customer.
During this process, it’s vital to check prospective names using a site like GoDaddy.com, which provides free checks to see if a URL is available. Isen emphasizes the importance of securing a business name that also has an available website address closely linked to your company.
For instance, if someone considers the term “synergy” for their healthcare consultancy, it might be wise to rethink that choice. A quick Internet search reveals numerous top results like SynergyHealthConcepts.com, TheSynergyCompany.com, SynergyHealthCare.org, SynergyHealthPLC.com, and so forth. How could a potential client locate you on the web?
When brainstorming for original, digitally appealing names, think about repurposed actual words (like Amazon), cleverly misspelled words (like Flickr, Digg), compounds (like Facebook), blends (like Pinterest), short phrases (like MySpace), suffixes or prefixes (like Mashable), or entirely invented terms (like Meebo).
Isen provides this evaluation for any prospective names:
- Is it short and straightforward? “You don’t want an 11-letter title,” she remarks. “The market will inherently shorten or misspell it, leading to a loss of brand control.”
- Is it distinctive and memorable?
- Is it easy to pronounce? Experiment with rhymes and alliteration (like Dunkin’ Donuts). It should glide off the tongue.
- Is it legally available? Beyond checking for a usable URL, search the U.S. Trademark Database at USPTO.gov to ensure the name isn’t already trademarked. Consider working with a lawyer to confirm that the name is free for use.
Mercedita Roxas-Murray
Former Executive Vice President
Business: RedPeg Marketing, Washington, D.C.
Why this name? Drawing inspiration from the classic game Battleship, the name reflects the company’s commitment to strategizing, influence, and results. It’s designed to be intuitively understood and provoke curiosity.
Results: One of the few independent marketing agencies that has thrived and expanded since its inception 27 years ago.
We launched in 1995 as Momentum Marketing, but encountered a much larger, well-established marketing firm with the same name. For years, we found ourselves benefiting from “Big Mo” (as we referred to them). When meeting with significant companies, they often noted, “Oh, we recognize you and your work,” but were actually referencing our competitor.
Eventually, the mix-up began to impact us negatively. We were at a pivotal growth stage, evolving from a transaction-focused business to a comprehensive marketing agency. We needed to establish our own identity and thrive or fail under it.
Finding a new name was a significant task that took five years of dedicated effort. A dedicated internal team met monthly to brainstorm and assess potential names. We encouraged our employees to dig deep into the core of who we are, what sets us apart, and how we could visually express these traits. We evaluated hundreds of suggestions, secured 20 domain names, and registered numerous trademarks along the way. We sought input from customers, clients, and partners regarding various names before narrowing it to three options. Our creative team then designed logos for these final three names, which were presented to our executive committee.
In the end, we settled on RedPeg, alluding to the game Battleship. The team member who proposed the name elaborated: “You target, you strike directly, you create impact, and you insert a red peg to symbolize the hit and success.” That encapsulates the essence of our brand. We publicly introduced it in 2004.
Approximately half of the individuals who hear the name grasp its meaning right away. The other half understand it shortly after we explain. This balance provides us with a great mix of immediate recognition and an opportunity to engage in dialogue during presentations. There’s an “aha” moment, and the name’s nostalgic quality ensures it sticks in people’s minds.
This new identity allowed us to step out from the shadow of “Big Mo” and define who we truly are while building our own brand equity.
William Lau
Digital Marketing Manager
Business: CanvasPaintings.com, Brooklyn, New York
Why this name? The SEO potential is enormous, and it accurately depicts what the company provides.
Results: 20% of web traffic comes from the keywords embedded in the company’s name: “Canvas” and “Paintings.” Sales increased by 23% in 2012.
As an online retailer, SEO was pivotal in our name selection. When we initiated our venture in 2007, we immediately analyzed the terms customers were using to search for our offerings—affordable wall art, handcrafted and sold exclusively online. We quickly focused on the terms canvas and paintings. CanvasPaintings.com was an ideal choice—the SEO benefits were significant, and the name clearly communicates our business model, including the “.com,” which is an integral part of the company name.
Choosing a clear, familiar term was advantageous for us due to budget constraints. We lacked the funds to construct a brand around an eccentric name and logo. At that time, a small retail art shop owned CanvasPaintings.com, and we were able to easily acquire it for a five-figure price.
The selection of our name has been vital for our success: One-fifth of our website traffic—which doubles as our storefront—originates from individuals searching our top two keywords, which happen to be our name.
Having a comprehensible name also has additional marketing advantages. We experience high engagement through Facebook initiatives, as well as click-throughs on Google AdWords and email marketing. Potential customers instantly grasp what we do, ensuring that when they visit our site, they know what to expect. This increases our sales and reduces our bounce rate. If we had opted for a more abstract name, that wouldn’t hold true.
