Archive for the ‘Company Naming’ Category

Do you want to create a company name or build a brand?

February 13, 2010

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 seem 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 it’s “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.

Radio Shack - The Problem With Product Identified Brand Names

August 7, 2009

The irony of naming a new company is that the quickest fix (giving the company a literal/descriptive name) creates the most enduring problem. Witness the latest iteration in “fixing” the Radio Shack brand. To bring it current, make it relevant, and shed its legacy image of radio/transistor/gadgetry, it’s now going to advertise itself as simply “The Shack.” This is similar to Pizza Hut’s attempts at rebranding itself as “The Hut.” The problem is systemic… the whole positioning itself is based on a product (radios) and a place (a “shack”) neither of which reflects well on the brand. This is the same problem encountered by CompUSA and Books-A-Million. They based their brand on a specific narrow product channel, and then spent years (and millions of marketing dollars) trying to break out of a self defined box.

This is one of those “live by the sword, die by the sword” types of branding decisions. Product specific names are great for gaining initial traction when first starting a business. Customers know exactly what you do (i.e. sell radios in small strip mall stores, sell computers in the United States, sell a million books, etc.) But when the company grows and expand its product offerings, (as they so often do,) the very name that helped define them now restrains them. The pain killer becomes the pain maker.

The solution? Look at companies that defined themselves by an attribute, such as Best Buy. Or ones that use a metaphor, such as Target or Amazon. These names provide a more lasting base to build upon. They allow the context to identify their products (i.e. their web page, their ad, their brochure, etc.) so the name can be freed up to evoke a bigger message.

So before you name your business The DVD Barn, be sure that is the only product you will ever sell.

We Let The DAWGS Out! (Naming a Business So It Gets Noticed)

July 6, 2009

Door and Window Guard Systems

When Jim Heagney came to us with a great new product, we knew he needed a great new name to match. Jim and partners manufacture metal security panels that bolt into the windows and doorways of empty, abandoned or foreclosed homes, as well as new construction and properties undergoing rehab. This type of home protection can save tens of thousands of dollars from break-ins, theft and vandalism. With foreclosures at an all time high, there was never a better time to launch… but what to call them? The few competitors in the field had bland, generic names for their companies, and no real brand name for their actual products.

Jim was a big admirer of one of our other company names… PODS, an acronym name (Portable On Demand Storage) that also works as a stand alone word. PODS has become the “Kleenex” of the movable storage industry, and Jim felt that with the right name, he could accomplish the same goal in his industry. So instead of calling them panels, or screens, or grids, we called them…

D.A.W.G.S. (Door And Window Guard Systems)

Like PODS, the name DAWGS works on several levels. It serves a literal function when needed, by providing a built in descriptor phrase (i.e. when asked, they can simply reply “We sell door and window guard systems!”) It also provides a memorable metaphor, a rough, tough, house-protecting “Dawg!” This conjures up a sense of vigilence, protection, guarding, protecting, and defending — without having to invoke all those words. Hence the proverbial mental picture being worth a thousand words. The name also gives the product a “handle” with an imaginative name that aids recall. Getting DAWGS to protect a house is much easier to communicate than “ordering some of those internally bolted metal door and window security panels.”

The word DAWGS, like any good brand name, then acts as a mental computer macro — setting off a whole list of associations that don’t require explanation. (For more on this subject, see “Monster, Amazon, Crocs — Why Creative Brand Names Work Best.”) So if you need a brand name that’s “off the chain” just call the bright minds at Tungsten!

The pitfalls of using a family name for your business name

April 14, 2009

I took a call from Jason Del Rey a few weeks back about an interesting branding story he was working for Inc. Magazine, for which he needed an expert opinion. Skinner Baking Company had long supplied regional grocery store chains with an unbranded pastry for their bakeries. Now the owner wanted to “brand” the product by putting the family name on the label. This would be a smart move if…

1. Their current customers didn’t care (it seems that the non branded pastries give the appearance of being made fresh on site… something the stores would lose with a branded label)

2. They went to their customers with a proactive marketing campaign, talking about how the publicity around the new brand name would drive more business (otherwise what’s in it for the stores?)

3. They chose a meaningful brand name and message.

In this case, there was little to no research into the idea, even with existing customers. The desire was to create a legacy brand using the owner’s name Skinner (again unresearched and untested.) It’s not to say it won’t work, but there needs to be more thought when it comes to branding than just putting your family moniker on your products. For instance…

• Does this fit with your overall business model/strategy? (In this case, the company had made a name for itself in the industry as a supplier… now it was also going to try and be a consumer brand. Would that disrupt their current business with other customers?)

• Are legacy/family names the best ones for branding purposes? Is there any inherent value in the name Skinner if it’s never been advertised or promoted? Could there be a better name that highlights some aspect of the brand? (i.e. Wonder Bread, Nature’s Pride, etc.)

• Will the brand message be supported with marketing and advertising dollars? Or is it assumed that shelf exposure will do the trick?

Many successful products have legacy/family names, but that is generally due to their longevity in the marketplace. In other words, they have gradually become known over a long expanse of time. The family name didn’t do the trick, it was the quality of the product or service. Otherwise we could all slap our names on companies and they would do well. What we don’t hear about are the thousands of companies that use family names and go nowhere… because a surname by itself is meaningless (in much the same way as acronym names are meaningless… i.e. ZQW Group and JXU Consulting.)

So unless your last name is Trump or Rockefeller (again, names that have acquired meaning over time) it might be wise to brand your company with something more meaningful, something that will give you a head start with your brand messaging, something that will provide a powerful marketing platform. Amazon provided a strong metaphor for a company that supplies a deep and diverse range of products. It’s unlikely that The Jeff Bezos Company would have been a better name. Outback Steakhouse is much more engaging, memorable and inviting than Ruth’s Chris Steakhouse.

The moral of the story? When starting a new business, sometimes the best thing to do with the family name is to simply keep it in the family.

Naming Your Consulting Company - Four Key Questions

April 9, 2009

With the economy on the skids, many experienced mid and upper level professionals are striking out on their own, leveraging their expertise to build their own future and control their own destiny. For many of these aspiring entrepreneurs, creating a compelling brand name is new territory, a complete and utter mystery. They know it’s an important part of the equation, and they may have even had a full time marketing department at their previous firm. But now it’s “do-it-yourself-time,” and there’s a dearth of information on how to brand a new consulting company successfully.

Fear no more.

The first step in branding a consulting company is to know your objectives. Here are four key questions to clarify your goals…

1. Do you want your company name to stand out, or fit in?

This may seem like a trick question, but there is not a right or wrong answer. Some new consultants are so concerned with gaining acceptance in their industry, they are much more comfortable with a name that sounds established and credible, right from the outset. If that’s the case, try looking up a list of others in your industry on sites such as dmoz.org. You will then gain a sense of the nomenclature used in your field. You may be able to emulate the feel, much like other industries have done (i.e. Microsoft’s Outlook, Apple’s Safari, Netscape’s Navigator, etc.)
If want to gain notice, then do just the opposite. Look at the company names in your field and use interpretive naming strategies. For example, if nearly everyone in your category uses proper names (sometimes known as “legacy” names) then go with a metaphor (i.e. Jaguar, Caterpillar, Amazon, Monster, etc.) to convey your company’s attributes. Or try positive connotation words to create an entirely new identity (i.e. RedHat, OnStar, FireDog, etc.) Just make sure you have a rationale that can explain why you chose that name, and one that leads to a deeper dialog about your company.

2. Have you explored all the possibilities?

Frequently, new business owners become frustrated and discouraged when naming their new businesses, simply because they’ve attempted only one or two naming strategies. Many times they’ve created a list of literal/functional names, (i.e. Custom Software Consulting) only to find the domain names are gone. Or they’ve attempted some obvious metaphors (i.e. Summit, Pinnacle, etc.) and found dozens of companies with similar names. The trick is to employ several methods. These include…

• Key attributes — For an example, we named one staffing company BrightHire.com based on their desire to attract the most intelligent candidates. You can see this employed with company names such as SirSpeedy, EconoLodge, Priceline and Smart Cuts. Is there an overarching benefit you provide that you can incorporate into your name?

• Invented names — This is a favorite with consultants but proceed with caution. It’s easy to get caught up in with the chase of a new name and gradual twist the spelling and message until it’s unintelligible. It’s okay to use Latin word parts and obscure references if the name can still be spoken and spelled easily. Small firms have the advantage of conveying part of the brand message in person, over the phone, or at a trade conference. But don’t push it. If you find yourself having to constantly spell or correct the spelling, then it’s a miss. And keep in mind the name can be invented and still carry a sense of meaning. We named one company Claricent, because they were able to provide clear insight and direction to their client base. So you can still convey an attribute, even in an invented name. (i.e Verizon = Horizon, Agilent =Agile, etc.)

• Descriptive Hybrid Names — These names combine an industry descriptor word and marry it with an evocative word. Examples include companies such as Emisstar, consultants in the emissions control industry. Big brand examples include JetBlue and CarMax. If you use this approach, just be sure that your industry descriptor is one that won’t change over time.

• Metaphors — Since the proverbial “picture paints a thousand words”, then metaphors are a great way to convey multiple company attributes with a single image. FourBridges Capital, for example, expresses this investment banking firm’s ability to “bridge the gap” and “connect business with capital,” etc. With four major partners and four major bridges in Chattanooga, TN, the story gains even more traction.

3. Have you prioritized your wants?

Starting a new consultancy provides a beautiful blank page upon which to craft your story. Take time to determine what is most important in that story.

• Do you want a name that’s memorable?
• Do you want a name that’s easy to say and spell?
• Are you most concerned with trademark?
• Are you adamant that to have the exact matching .com domain name?

Figure out the key driver(s) behind your naming challenge, so that when you come down to a final list, you can look back and pick the one that meets your top criteria. Often the process can get foggy and unfocused after a prolonged search for a name, and all the words start sounding alike. So be sure you know what you want before you begin. That way it will help you when it’s 3 a.m., your eyes start to cross, and your spouse no longer wants to be your sounding board.

4. Are you seeing the big picture?

Create a short list of your favorite names, and then test them out. Make sure you choose people who are either in your potential market,
or who understand good branding. Rather than randomly tossing names around, create some context for each name, so that when the name is said, it falls into place. You may even want to invest in some quick logo treatments to help visualize the brand. Many major brand names would ring hallow if only spoken. Judge the whole package… name, rough tagline, sketch of logo, to get the real feel. A consulting name such as BearingPoint gains traction once it has a logo, tag line, and a story line.

Decide if you want to fit in or stand out, utilize multiple naming strategies, prioritize your “wants” list, and test your ideas, and you’ll be well on your way to a great consulting company brand name. Once you make your selection, be sure to run it by your trademark attorney and to acquire the matching, or closely matching, com domain name. Continue to integrate your brand message throughout your web site, corporate identity, collateral materials and advertising to further strengthen your presence. If done properly, you will have a company name that serves you well, both now and for years to come.

Succeeding in the '09 Economy

March 9, 2009

In dealing with business owners worldwide this past year, one trend stands out sharply. The successful firms are ones moving forward, but doing so prudently. Rather than shuttering the windows and drawing the shades they’ve decided to simply slow down, make adjustments, but still advance. In our case, we have clients utilizing our naming and branding services by the hour rather than by the project. In other cases we provide feedback on internally generated brand names, or we provide overarching themes for new product lines, allowing their in-house staff to generate the individual brand names.

In other words these companies may not be sprinting out of the gate, but they are putting one foot in front of the other. They are looking at the changing landscape in their industry and across their customer base, and making smart decisions. Perhaps it’s an acquisition of a former competitor, or a merger. Or it might be the opportunity to provide a new service or product line based on shifts in customer attitudes.

Bethel Farms is developing more drought tolerant grass varieties rather than simply selling sod.

TrickleStar is committed to eliminating useless electrical consumption.

Green Peg is helping companies better connect with their customers.

10 Connects is transforming into an interactive community news portal vs. a “TV station”

All of these changes come at a time when these companies could easily opt out and “wait out” the economy. And it’s not because they are loaded with money. It’s because they know their mission and are concentrating their efforts on what matters most. They’ve identified what their customers want and they are taking steps to provide it.

So rather than focusing on the news, the Dow, the economy, etc., ask yourself what one step would most move your company forward. And then “just do it.”

Naming A Company Is Child's Play

March 2, 2009

If you’ve tried your hand at creating a new company name, you may have found it a bit daunting — brainstorming hundreds of ideas, developing a meaningful brand message, obtaining the matching .com domain, passing trademark, etc. — but it doesn’t have to be so dreary! That’s why Sandvik Publishing turned to Tungsten Branding for some bright (and fun) ideas for their early childhood reading portal. They needed a name that resonated with parents, underscored the importance of good reading habits, and communicated the value of the parent/child bond.

The final result… Early Moments

This particular name captures the essense of those first few fleeting years, when a parent puts the world on pause, and takes the time to connect with what’s most important. Some naming consultants call these evocative names, because they work on an emotional level to convey the feeling of the brand rather than trying to describe it (i.e. Young Childhood Reading Development Associates, etc.) This from their web site…

“Early Moments may be a new name to you, but we’ve been publishing children’s book clubs for more than 45 years. We’re proud to support some of America’s most prestigious brands, including Dr. Seuss™, Disney, and Baby Einstein®. The people who founded Early Moments are not just editors and publishers; they’re parents like you and me. In addition to having backgrounds in education, many of us have been in the field of children’s publishing for years. We’re deeply committed to providing you and your children with the highest-quality, most enjoyable reading experiences possible.”

The lesson here is that a creative company name provides a way to connect with your core audience, generate interest and start a meaningful dialogue. It provides a solid platform to grow, build and play upon. (And that’s when good branding becomes great fun!)

The Most Expensive Word In All Of Branding

February 17, 2009

When speaking with potential clients about their naming and branding needs, one word in particular raises the proverbial red flag higher than any other — and it might surprise you.

That word is “educate.”

Yes, you read it correctly, educate, as in “We just need to educate the public that we provide xzy products and services.” In other words, it’s the silly public out there that doesn’t understand. It’s not us, or our lack of clarity, or our ambiguous and conflicted messages. It’s the public, our consumers, who “just don’t get it.” Here are a few variations on the theme…

“We’ve been here for nearly twenty years, and people still think we just sell ______.”

“We’re the best kept secret in the entire county/city/state.”

“What people really need to know is that we __________.”

The unanimous agreement after commiserating, is the need to “educate” the consumer. This usually takes the form of adding on to the phone message, taking out more ads, doing more speaking engagements, adding additional tag lines, adding bullet points to existing ads and signage. Education is inherently expensive, both in time and money. It takes 13 years just to get a basic public education. Do you have 13 years to inform and educate your audience? Instead of educating, what if you spent that time on clarifying ? By clarifying, I don’t mean making your name, tag line and copy all 100% literal such as Toys R Us and Linens & Things. I mean clarifying as in creating a clear, concise and compelling message and identity that will have customers leaning in and asking for more. Ideally the name should naturally segue into a deeper conversation about the company.

A great example of this is a New York based fitness chain called Crunch. Crunch conjures up all things work out related… abdominal crunch, six pack abs, fitness, exercise, etc. and yet it doesn’t commit the brand to a physical location or set of activities.

The flip side of that is a company in Florida I worked with called The Exercise Experience. They were not a gym. They sold very high end fitness equipment to high income individuals in their 40’s and 50s. The name proved terribly misleading and our job as an ad agency back then, was to “educate” the public about who they really were. This took up about half of the commercial air time, singing a jingle, explaining the equipment was for sale, mentioning price points. Still we had people walking into the stores with gym bags in hand, asking how much for a membership. Eventually the chain went under.

That’s the high price of education.

One of the reasons I shifted to naming and branding was to help business owners get clear on their message and avoid the costly mistakes I had seen made again and again. If you find yourself wanting to correct, inform, or worse yet, educate your customers, it might be time to look at your brand image. Take an honest look at your name, logo, tag line, web site, collateral. Does it speak for itself? Does it convey the right image, feeling, attributes, industry? Or does it take additional, in-person explanation? Are you the “best kept secret?” Then it might be time to quit spending on education and start investing in clarity.

The Best (And Worst) Company Names of All Time

January 5, 2009

Inc.com today announced their list of the top ten best and worst company names of all time, based on feedback of top naming experts nationwide. Tungsten Branding’s recommendations comprised two of the top ten names (Amazon and JetBlue) as well as three of the ten worst names (Books-A-Million, Ruth’s Chris Steak House, CompUSA.) Naming is always a subjective art, so read over the list and weigh in with your thoughts and opinions. Poor company names are not just the ones that sound bad, they are the ones that confuse potential customers, box in a company, and limit its growth and opportunities. A special thanks to Inc. magazine Senior Reporter Ryan McCarthy for this insightful showcase of naming do’s and don’ts. For even more insight, read our post “Is Your Company Identity Killing You?”

Is Your Company Identity Killing You?

January 4, 2009

Central to the business of naming and branding is the core issue of identity. And never has this issue been more relevant than in the past several months. Most of the time we give our identity, both corporately and personally, very little thought. We offer a product or service, people buy it, and we move on.

But what happens when people quit buying? What happens when the products, goods and services we are tethered to begin to falter? What happens to our sense of self worth and value when our claim to fame begins to fade away?

For some it means a slow death. For others it’s more immediate.

Ben Stein shared today on CBS Sunday Morning that a friend of his committed suicide over the loss of value in his stock portfolio. Another had a stroke. That’s how deeply the sense of identity gets tied to externals. For most people the consequences are less immediate but still significant… loss of sleep, anxiety, high blood pressure, depression. All of this angst because we are identified with something, a thought, an idea, a notion, a concept, an identity. And companies are simply extensions of people. They suffer the same killer stress as people when they lose their sense of “self.” Here are some examples…

• Suddenly the “number one” news channel is not number one and bleeding viewers to the internet and other media outlets.

• The number one volume luxury home builder becomes an oxymoron.

• The hot shot financial planner who’s never had a losing year, loses 30% of his client’s money.

When these things happen, they expose the underpinnings, the very foundation of our identity. As they say in some recovery meetings, “the pain killer becomes the pain maker.” The very things we use to boost our image now degrades and threatens it.

What to do?

The first step back to sanity is the realization that you are none of these things you thought you were. They were and always will be simply concepts. They have as much weight as you give them. And you are the one giving them the weight… no one else. So what if you are not number one? So one if you were wrong, imperfect, underperformed, misjudged, took the “wrong” path, etc. Maybe your value never was in any of these concepts. Maybe it’s time to re-evaluate your standard of measure. Perhaps it’s not so much about what you do as it is about how you do it. Why? One simple reason.

You can control your intentions, but you can’t control outcomes.

That’s why companies (and people) who associate themselves with attributes, do better than companies that identity themselves by their products. Apple has all but died on several occasions, only to re-emerge as a dominant force in a new category. That’s because they are rooted in innovation, and innovation doesn’t go out of demand. They didn’t stubbornly hold on to the idea that they were a computer company and ram their heads against the wall. Minnesota Mining and Manufacturing (3M) makes millions on Post-It Notes and Scotchguard. Wal-Mart doesn’t focus on their products, they focus on their pricing. Innovation, ingenuity, affordability… these are more enduring and timeless qualities.

So let’s revisit our three corporate examples companies in the throws of despair.

• The number one news channel could realize their real value was in connecting people with local information, and find new ways to do just that. (WTSP in Tampa, Florida did just that and went from a TV news channel to 10Connects, a multi-media company)

• The number one volume luxury home builder could forget about the volume claim and focus on one or two super high end projects.

• The expert financial planner could shift the focus from past performance to highly customized service.

The above companies can always deliver on “connecting,” “quality,” and “customization.” In fact, they can even expand those attributes into new products, services and revenue.

What is your company identity based on? Is it enduring and timeless? Is it open and flexible? Is it helping you during this time or hurting you? If you don’t take the time to examine these issues, you might start feeling the effects of a truly killer reputation.