Great Names Help You Sell

I often meet entrepreneurs who struggle with naming their companies and products.

Some struggle to pick the “right” name, which is an easy fix.

Some are not sure if names even matter. 

They ask if a company named “Google” can become one of the most valuable companies in the world, does a name impact business?

Yes and occasionally no. 

On one hand, every one of your potential customers will encounter your brand name. It is the only marketing asset that is so pervasive. We don’t have to be a data scientist to know that is a big deal. 

Every one of your potential customers will encounter your brand name.

And when you take into account that most people also want to buy new products from brands that are familiar with, you would think investing in a memorable brand name would be a priority. 

On the other hand, if you are naming something with huge demand and proven effectiveness (a “cure for cancer”) you have a lot more leeway. 

For those of you who aren’t selling the cure for cancer, here are three guidelines to help you think about naming your next product or business.

1. First, do no harm.
2. Neutral names leave room to grow.
3. Great names help you sell.

1) First, do no harm.

A brand’s simplest function is to help consumers make decisions. To pick the red one or the blue one. Google or Yahoo!. Coke or RedBull.

As a crystallization of your brand, your name carries the same mandate: to help people choose (you).

The opposite is also true. 

The worst thing that a brand name can do is encourage a potential consumer to choose someone else. 

So first: do no harm. 

A harmless name doesn’t offend, embarrass or confuse your target customer. 

And certainly don’t pick a name that someone else owns.

I don’t believe anyone sets out to pick a name that hurts their brand, but ignoring the power of names and neglecting basic due diligence leads to failures in the market and in court. 

Naming fiascos happen even to large companies with huge budgets. 

Take for example the outrage that Kim Kardashian West sparked among critics (including the mayor of Kyoto). She released a shapewear line named “Kimono” in an obvious play on her own name. Her team failed to anticipate how making a claim for a name that also refers to a traditional Japanese garment might be received.

Harmful names seem to appear most often when a name translates poorly into a different cultural context.

Harmful names seem to appear most often when a name translates poorly into a different cultural context.

If you thoughtfully design your name, are confident in the cultural meanings, and ensure the ownership of your name is clear, then you at least you will avoid embarrassment and hurting your business.

Consider the cost of avoiding hurtful names the baseline level of investment.

2) Neutral names leave room to grow.

If you are going to sell anything you need a name but it doesn’t necessarily have to be a great name. 

For example, the mighty Google started out as a misspelling before eventually achieving the status of a verb in the dictionary. It took many years and a lot of investment to make a nonsense word like Google mean something, but a neutral name can transcend its humble beginnings once enough positive associations are in place.

The best thing about a neutral name is that it leaves room for growth. 

The best thing about a neutral name is that it leaves room for growth.

If you are not quite sure what your product is yet or if your business hasn’t found it’s market yet, then a neutral name won’t box you into any corners.

Neutral names also highlight the importance of considering the target audience for a brand. 

Is there a mother of a John Smith (a very common name in America) that doesn’t have great affection for that name? 

Is comet C/1695 U1 not a bit more special than every other icy solar body in space to the astronomer who discovered it? 

Neutral names might not be neutral to everyone. The neutrality a name might also offer early-adopters of certain brands the time to develop a sense of discovery, exclusivity, and cult-like ownership that can become a useful lever for growth.

Nevertheless, neutral names are like a starry-eyed actor who heads out to Hollywood with $10 and a dream. Neutral names launch into the world with little recognition and meaning. They are empty vessels waiting to be filled. In the end, a neutral name is defined more by what they are not, neither harmful nor great, than what they are.

I would suggest that many of the nonsensical names popular with tech startups, inside joke names, mad-lib style name generator names, serial numbers, product codes, things that would “make a good band name” are all examples of names that I would categorize as “neutral”. 

For example, do names like Calxeda or Berg help us understand their brand story or offer? 

Nope. 

Yet both companies raised millions of dollars of investment capital despite the apparent meaninglessness of their names. 

Would better names have helped them stay in business longer (or at least signaled a clear brand strategy)? I will leave that to you to decide.

The most basic-becky, plain-jane, middle-of-the-road, bland-as-can-be, commonplace of a name is at times enough, especially if your product and marketing are otherwise outstanding. In fact expect to hustle to make up for choosing a neutral name.

And so you can probably come up with a neutral name yourself at little cost and time. Just keep in mind you are punting and will have to invest much more later to develop your brand.

3) Great names help you sell.

You can do a lot worse than a neutral name but you are also leaving value on the table when you pick something less than great.

You can also waste too much time pursuing the perfect name. Some of my clients come to me thinking naming is an artistic endeavor. They relished the naming process as an essential creative act and wanted to express their business vision in their name perfectly. They ended up chasing their tail for far too long until I put them on a better path. Perfection is not greatness.

But also, don’t make the mistake of too quickly dismissed naming as just removing a barrier to doing the “real work”. (See above on doing harm with a name.)

So what is a great name? Let’s view it through the lens of sales.

Great names should help you sell. 

Great names help you sell by helping your target customer understand your offer more quickly (and thus making more sales, more quickly).

Great names help you sell by helping your target customer understand your offer more quickly (and thus making more sales, more quickly).

Is there any confusion what is on offer at Pizza Hut or Jiffy Lube? Do Slack, Basecamp, Dreamworks, Hagen Dazs and iPhone not all convey some essential value proposition, evoke a feeling, or suggest a grander world that you could experience? You hear these kinds of names and you are a bit further along a path to buying something.

Great names also help you sell by helping your prospect remember your brand more easily (thus there is more sales impact from your investment in marketing and also more repeat sales). 

It is clear that most people also want to buy new products from familiar brands. If you aren’t a familiar brand yet then maybe your name should be designed to feel familiar and to be memorable enough to stick with a prospect quickly. 

Finding a great name, or even a name that aspires to be great, might just fall into your lap while joking around at a bar. Naming might also be a process that takes some work and investment. 

Unlike a neutral name, which you will pay for in the future, a great name will pay you a profit down the road. 

But I am a _________  and don’t have a budget for naming!

My advice is to first take a breath and then find either some time to do it yourself or a bit of money to get some help.

Minimally set aside the time to think or hire someone to come up with some name ideas to get you started. 

Also set aside some time or funds to check you favorite naming options. Does anyone already own your favorite name. Could your names be misunderstood by some of your potential customers. 

Then ask yourself if you want to invest more than the minimum.

A name is the brand asset that every single one of your potential customers will encounter. That just seems to me like a moment you shouldn’t waste. In fact, it seems like a moment when you want to be sure your are inviting prospects into your brand world and ultimately your offer.

I don’t find it takes a lot of time to pick a better than average name either (but I have done it many times at this point). 

Many of my clients are able to find names (that don’t offend and likely help their cause) in as little as five hours of work. I don’t see why even the scrappiest startup would waste the opportunity to thoughtfully pick their most important brand asset. 

My clients are able to find names (that don’t offend and likely help their cause) in as little as five hours of work.

High return for a low cost of investment. That sounds like a good business decision to me.

So to sum up...

1. If you are going to sell anything you need a name.
2. Find the time to come up with a decent name or get some help.
3. At a minimum, don’t pick a name that will hurt your business.
4. Consider striving for a great name that helps you sell more and even more quickly. 

And when you finally have that precious new name, share it proudly. Let your name do its job of helping customers choose you.

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Erik Fabian led brand teams at Moleskine and Greenhouse Software. He has been called a “brand therapist” for his work helping organizations develop their strategy, story, and plan. He founded Upright Brand to help other entrepreneurs stand above the hustle in an age of off-the-shelf ventures. Erik is based in Brooklyn, NY and works internationally.