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Naming Company

Why you need a naming company & how to choose one

No other aspect within the realm of branding evokes stronger feelings about importance of branding than naming a company, service or product. Some say it’s top of the list. A small minority don’t give brand names much thought, however the naming of brands, products and services and companies is important. Let’s pretend that names like Coca-Cola, Xerox and Downy are worth something and that simply naming these products “Curiously-flavored brown soda,” “Plain Paper Copy Company” and “Bluish Fabric Softener” wouldn’t have led to the same sort of success these brands have enjoyed.

Okay, maybe we’re not pretending. When done well, the value of a great brand name is plainly obvious. But how are these winning names conceived? Are there people in the world who actually sit around all day brainstorming names for new products and services? The short answer: yes. The long answer: not all brand naming companies are created equal. And certainly, trying to come up with a name for a fantastic new product or service within the vacuum of your own organization is, in nearly every case, a recipe for disaster.

Why? A good naming company has competencies that transcend mediums, cultures and geography. They are equal parts research, science, linguistics, competitive positioning, art, creative, marketing, branding, intellectual property, and most importantly experience and talent. And unless your company possesses all of these competencies in house—and even if it does — you’re still better off hiring a naming company because it’s simply easier and less expensive to get things right the first time. Imagine the cost of trying to inject life into an ill-conceived brand name that’s already in the market or paying for legal defense of an infringement on someone else’s trademarked name? When you consider that companies with such vast internal resources such as Disney, Proctor & Gamble and Apple Computer contract naming companies to name their new products and services, it may be a good idea that you do, too.

If you do, here are a few guidelines to keep in mind in your search for a naming company:

1. Determine the type of naming company you need: Are you looking for someone to come up with a straightforward descriptive name or something a bit more human? There are plenty of naming companies out there that fit both camps. Unsure of which kind of name you need? See point #2.
2. Be more creative for more commoditized markets: Many businesses out there are trying to carve a very small piece out of a huge pie. Cases in point: real estate agencies, mortgage brokers, financial advisors, Italian restaurants…you get the picture. In these cases, names as “Bob’s Insurance” probably aren’t going to rise above the fray of the competition. You need something that is going to be disruptive in the marketplace and change the tone of the business-as-usual humdrum. For this type of effort, you might consider going with a naming company that is a bit off the wall and isn’t afraid to suggest verbiage from another universe.
3. The newer the category, the more cutting-edge your name should be: Say your company just invented a car that can run on stale beer and old French fries. That’s one hell of a new category! Such a product should have an equally innovative name. In this case, going with a naming company that has serious creative muscle is a good idea again. Catching a theme here? Well, read on, because a great naming company isn’t just creative.
4. Check for strategic backbone: Whatever naming company you choose should be able to give you a well-thought rationale for any name they create. Ask them about the research they put into the effort. See if they considered the naming of similar products and services and how they thought this name needed to contrast with those already in the marketplace. Only a naming company who can provide real answers to these types of questions should be considered. You’re not paying for someone to just pull any old contraption of syllables out of the air. You need a strategy behind a name as much as you need something memorable.