Naming a new product, service, or business may seem straightforward—just brainstorm, test a few ideas, and pick one. However, doing it effectively involves a bit more effort. Here are three key factors to consider when naming new products or services.
1. Does the name clearly convey what the product or service is?
If you don’t have a massive budget for marketing an abstract name like Google, choosing a name that immediately communicates the nature of your product or service is smarter. For instance, names like PayPal and OkCupid work because they give an instant sense of what they’re about. They’re also short, catchy, and memorable.
2. Does it have any unintended meanings?
Be cautious about potential unintended meanings, especially slang. A name that seems harmless might have different connotations you’re unaware of. Urban Dictionary is a handy resource to check. Also, ensure the name doesn’t sound too similar to another product or become a source of jokes.
3. Is it already in use or trademarked?
After finding a name you love, check if it’s already being used. Start with a Google search for exact matches. If it’s already in use, understand how it’s being used. Additionally, run the name through the Trademark database to ensure it’s not trademarked. If unsure, consulting an attorney is a wise decision, though this isn’t legal advice.
So, how do you come up with a name?
Sometimes, hiring a specialist in naming and verbal branding can be a worthwhile investment, saving your business time and money. If you need to tackle the naming in-house, here’s a guide to help you:
1. Analyze the market: Understand the names your competitors are using and the discussions happening within your industry. Platforms like Quora or Reddit offer real-time, free insights.
2. Consider all features and benefits: Make comprehensive lists of every detail about your product or service. Ensure everyone involved in the naming process fully understands it.
3. Know your audience: Create buyer personas to understand why your target market needs your product or service, the problems it solves, and any potential objections.
4. Brainstorm emotions: Make a list of feelings and emotions you want the name to evoke in your audience—helpful, safety, peace of mind, fun, etc.
5. Start brainstorming names: In the beginning, don’t censor yourself. Use tools like Namify to expand your list with AI-generated ideas. Be prepared to ruthlessly trim the list, discarding names that don’t make sense, even if you like them.
6. Check availability: Once you have a shortlisted set of names, run them through Google and the Trademark Database. Also, check if the domain name is available.
7. Test the names: Use focus groups or informal groups of employees and customers to gather feedback. This phase helps narrow down your list further.
Consider factors like the coolness factor, staying power, and how well the name works in different formats (like logos). While coming up with a catchy name might seem simple, choosing the right one requires careful consideration. A great name should clearly convey its purpose, avoid unintended associations, and be unique enough to stand out in the market.
