Many companies come to us asking how we can help reinvent their brand. This is especially an issue in the technology sector, where being linked to legacy software can hamper your chances of positioning yourself at the cutting edge.
In some cases, this means going right back to the drawing board and finding a new name.
But how do you go about deciding on a great company name?
Having recently gone through a number of renaming exercises for large technology clients here are some quick tips we would give:
1. Avoid common words
‘Key’, ‘Global’, ‘Top’ – all strong, powerful words. But what happens to great words? They get used a lot. By everyone. If you want to make your name memorable, searchable and digitally marketable, then stick to less common words.
2. Don’t make it personal
Choosing a name is a process of solid, business logic. Many senior company executives have a personal stake in their business – and take the naming of their ‘baby’ to heart. In order to achieve a name that delivers your business messages, you might just have to sacrifice beauty for practicality.
3. Get legal
If you’re going to the effort of re-inventing yourself, you need to make sure that you futureproof your investment. We always recommend that clients trademark their new name – it’s a cost now, but it’ll save you a lot of energy dealing with any infringements in the future.
Maybe most importantly of all; your new name should always be the result of a thorough process of audience research and form part of a broader branding strategy. If you truly understand what you’re trying to communicate and who you’re communicating it to, then summing it up in a name can be a (relatively) pain-free process.