Business Naming Basics

If you’re doing business on the web – generating leads, selling product or establishing an “authority” image – then you know the importance of generating relevant traffic.

And you know that search engines are a major source of relevant traffic. But unless you already own a well-known, top-of-mind company name, people don’t search for business names using Google, Yahoo or Bing. They use generic keywords to find the product or service they are researching or purchasing.

And the way you get recognized in a search engine is to be on their first page of results when people search for the keyword(s) that best describe their need or desire. Getting on the first page requires that you optimize your site by making it relevant using a host of search engine optimization (SEO) techniques.

Name as SEO component

A major characteristic of a web site for SEO is the domain name of the site. Thus, if your site’s domain name contains the keyword your prospects are using to find businesses relevant to yours, it stands to reason your position in the search engines will be higher than if your domain name does not include the searched keyword.

But keywords are usually descriptive and generic. And business names should not be descriptive and generic. Business names should be unique and memorable; at least businesses that aren’t exclusively web-based. So there’s the predicament: how do I have a relevant, searchable domain name and a unique, compelling business name?

Naming hierarchies answer the call

We are aware of the many companies that have multiple businesses and/or products. Each of those entities has a distinct name, and some of those brands will have products – line extensions – under them. Then many products will have branded characteristics or features as well. Within these companies a naming architecture, or hierarchy, has been established which brand managers adhere to when it’s time to name a new product, corporate division or, yes, a web site.

The answer to the dilemma of the domain vs business name is to treat the domain name as an association to the business brand. The domain name should be created with the major keyword as part of the name. The business has a more “people-appealing” name that differentiates and delivers a suggestion of the brand’s promise.

Real live example

You are reading a blog post at Business Naming Basics. I chose this name after doing my keyword research and found, not the most used keyword, but one I felt I could raise to the top of the Google rankings (first page). The site name and its contents are relevant to the search term.

But my business name is Signature Strategies. The company does create names for companies, and it also helps smaller businesses with brand strategy and management; graphic standards and trade dress; name, logo and tagline creation, and brand audits and positioning research. So naming is a subset of the business.

And because I derive much of my business from Internet contacts, I wanted a domain name that would attract relevant visitors to my web-site. Signature Strategies would not be that traffic-generator for the service of naming. Now I also have a Signature Strategies web site – www.signaturestrategies.com – where I also blog, but that site is not expected to get a lot of search engine traffic. Most of its visitors are folks who have read an article I’ve posted on the web, backlinks from other branding sites and my social networking activities.

Know what you’re naming and why

That’s the real message here. Before naming your business, or your web-site, or your product, or your new subsidiary, take the time to create a naming brief, one that gives you direction based on long-range goals and missions. This goes for anything you name in the future. It’s also a good idea to establish your brand architecture structure early on because if you don’t, in all likelihood you’ll have to backtrack – rename or rebrand parts of your business that tend to confuse customers and prospects.

So it’s best to begin with a brand platform (the structure that contains the brand hierarchy). You can find help in constructing the platform at Signature Strategies web-site. Then create a naming brief for each aspect of your business that needs a name, following the brand hierarchy you’ve already established.

Yes, there’s more to business naming than a brainstorming session and trademark search.

Tags: Name Management, Naming Strategies by MartinJ
No Comments »

Business naming can be a trend-following activity.

When a lot of company names are just three letters, many think that would be a cool way to name their business. Plus it doesn’t take a lot of thought – not to even mention creativity.
  

But unless those initials already stand for something  that’s appropriate for the company (MVP, QED, ASAP), initials don’t mean a thing to prospects and customers until they have a considerable history with the company. And then the initials have no actual meaning, just an identification – like a part number.
 
Initials have no personality They don’t resonate. They don’t elicit emotion. They are hard to remember, especially for those just experiencing the name. They don’t differentiate the company. They communicate no passion, history or expertise. They are just initials.
 
So I suggest going instead with a short, active one or two word name. Even if it’s a coined word name, that’s so much better than lifeless initials.

Tags: Naming Issues, Naming Strategies by MartinJ
No Comments »

When you begin the naming process it can be helpful to break the process into four distinct components.

Those four phases in sequential order are: preparation, generation, evaluation and registration. Each is distinct, calling for different mindsets.

Preparation

Preparation is best performed by creating a naming brief. That is a document normally derived from your business plan. It sets down those considerations from a strategic point of view that will influence the next phase i.e. name candidate generation.

Preparation also includes a definition of exactly what you are naming. Quite often, an entrepreneur will look for the company name to also be the name of a product or service. At this stage, it is important to look ahead to try to determine if there will be any conflicts or confusion as new products and services are introduced. Any taboos or prejudices about names should be documented here as well. And a set of naming criteria should be included.

The point is the naming brief is to give clear direction to those involved in the name generation phase of naming. Insightful input provided at this stage will ensure more relevant name candidates.

Generation

For most folks name candidate generation is the fun part of naming. But for some it is pure hell. I believe it is essential to generate a great number of name candidates, and when you are through, develop even more. Therefore many sources and techniques for generating candidates are recommended. These range from web based word generators to common reference books; from brainstorming to mind map development.

Once you have a basic candidate list you can go over it and select certain words that could be further manipulated. Quite often the best candidates are the last ones generated. They will be found to be more innovative and unique, partially out of desperation and partially out of inspiration.

Once you have a list of at least 200 candidates, you’re ready for the next phase

Evaluation

Part of the naming brief that you created in the preparation phase should contain your name criteria. These criteria can be generic in the form (short, memorable, unique) or they can be very specific to your business. I suggest that each criterion that you invoke should be weighted. Then as you evaluate the most promising names, you apply these weighted evaluators to each name. Below is a sample of a chart which I find find valuable in evaluating candidates.

Another aspect of evaluation is determining whether or not the candidates you like are available to you. If you are planning to only do business locally, you must check your state records for your chosen name. This can normally be accomplished by going to your particular state’s website under State Department or Commerce Department. There you can enter candidate names and get feedback as to their availability. A list of those sites is available at here.

You will want to check the U.S. trademark directory as well to determine if your name candidate is registered as a trademark by someone else in your particular product classification.

Registration

Once you have chosen a name and determine that it is available for your use, you’ll want to register it. Although it is possible for you to incorporate your business without one, I suggest engaging an attorney or a company whose business is helping small businesses incorporate. There could be a lot to consider, especially if you plan to do business in more than one state.

Summary

So you begin by wearing your strategic hat while preparing your naming brief. Then you put on your creating hat to generate a large list of name candidates. Then you switch to your judgmental hat while evaluating those candidates. The last part of the evaluation phase and for the registration phase, you will want to wear your administrative hat.

There is a lot involved in each phase and I’ll be covering each subsequent posts. State tuned. You might want to subscribe to my RSS feed .

Related Blogs

Choosing your business name is a fundamental – Business Plan Help …
Corporate Identity Series :: Naming Your Business :: Corporate …
How to Name Your Company
How to check for name conflicts – Marketing MO
What Should You Name Your Company? | Small Business Marketing Blog …
CatchThis: The Company Naming and Product Naming Blog » Blog …

Tags: Naming Strategies by MartinJ
1 Comment »

Using numbers in corporate names can be powerful.

One reason: not too many do it

 

Oh, numbers are used in product names quite often, particularly for those products that are upgraded every so often (Mark 5, Version 12, III).

Using a number after the product’s original name both ties the brand into the heritage of the past success the product enjoyed, and provides a springboard for the advanced product. Since the old and new do not sit side-by-side on the shelf, the new product is not a line extension. It is a replacement. So you benefit from both the equity of the old brand and the promise of the new are enjoyed. Using the next number in sequence provided that clue to consumers.

But for a business name to contain a number is unique.

Now some numbers in and of themselves have a connotation and relevance: Lucky 7, Fifth Dimension, Catch 22, 101.

In a competitive situation, the number 1 can have significance as a rating device (Bank One or First Bank).

There are also several famous number combinations – 1776, 4-minute mile, Apollo 8 that convey positive association and reaction.

Finally, company naming using mathematical expressions and symbols might be worth investigating: The sign for infinity, a "plus" sign, a term "squared".

Perhaps not for every company, but certainly for some, you might consider numbers and math as a source for your corporate name.

(Incidentally, I’ve heard that “Googol” was the first choice of the folks at today’s “Google”, but Googol was already taken as a domain name. Googol is one to the one-hundredth power.)

Tags: Naming Strategies by MartinJ
No Comments »

According to trademark law, a trademark’s sole purpose is to identify the source of a product or service rather than identifying the company itself.

So I am not allowed to trademark my company name, Signature Strategies LLC, but I could  trademark Signature Strategies as a service.

I know that’s a little confusing so I’ll try to elaborate.

Whenever you use your corporate name followed by its legal designation (Inc., Company, LLC, Ltd or another designation that your name modifies) that is a “trade name”. In this form it does not identify the source of a product or service, rather it identifies my corporation’s entity. In my case, Signature Strategies is an adjective phrase modifying LLC.

But I could probably trademark “Signature Strategies” as a source of branding and positioning knowledge and experience. In other words, I shouldn’t say, “Signature Strategies® is a branding firm”, but I can say “Signature Strategies® services can help you profit from the power of branding”. In this way it identifies the source of a service, not the business itself.

The Coca Cola Company just happens to have a product by the same name. Thus the product is trademarked but the company name is not. If you’d look at a Coca Cola Company business card you would see that the name, Coca Cola Company is not accompanied by a registration mark. But if the product were also on the card, in its distinctive logo format and color, it would have a trademark registration behind it. That logo, if complying strictly to the trademark code, would be visually removed from the corporate name and address.

Certainly, Coca-Cola Company cannot protect its corporate name. It just that that protection will not come from a trademark.

I’m not a legal eagle. I’d say its best to get advice from an intellectual properties attorney to determine the best way to protect your corporate name.

Also, think ahead. If your company name is also the name of your first product, as in Coke’s case, your naming considerations will be slightly different than if your products or services were to be named separately from the corporate name.

This factor should be considered in your naming brief, the document that will direct your naming effort.

Tags: Naming Strategies by MartinJ
2 Comments »

I believe company naming should essentially begin with a naming brief.

If your business helps your clients name businesses, I’d like to know what you think is necessary prior to beginning the creation of name candidates.

Specifically…

Do you use some type of fill-in-the-blanks document that you request the originator of the naming project to complete for you?

Or do you request a meeting with them and then go over some pre-determined questions you wish them to answer?

What type of information do you generally believe is necessary before beginning a naming project?

What types of existing documents do you request before beginning a project?

Do you establish naming criteria before beginning an assignment?

Please use the “comments” button below to respond to my query.

Tags: Naming Strategies by MartinJ
No Comments »

I’ve done about a dozen name preference studies since 2000, and inevitably name candidates that are made up of coined words seldom win.

That’s because people don’t like the unfamiliar.

As with everything unfamiliar, the coined name is suspect, but once people get used to pronouncing the new word and get form some associations with it, then it becomes okay.

It may take a little time, but once established a coined name will carve its own notch.

It’s usually worth this period of adjustment in the long run. Remember who “funny” Google sounded when you first heard it? Now, of course its established and represents the largest, most innovative company on the Internet.

The point is to have a unique name. Because without one, there’s little to convey the difference between your offering and your competitors.

So be brave. Adopt the unfamiliar and the unique. Strongly consider a coined name and benefit in the long run.

Tags: Naming Strategies by MartinJ
No Comments »