How to Name a Business That Sells

Would you hop into a car called RushToDie? Sounds crazy, right? But what if I told you that you already have?

When Mercedes-Benz entered the Chinese market, they used the brand name "Bensi." In Chinese, this translates to "rush to die."

Ouch. That unfortunate name scared off many customers and forced Mercedes to rebrand, costing them millions.

We don’t just see with our eyes. Our brains paint vivid pictures of objects, people, and companies based on names and phrases. Words in any language do more than describe - they evoke feelings.

Some words sound beautiful; others can be rude, pretentious, or just plain ugly. The right name can make you smile or even cry. The power of naming can make or break a business.

The Power of a Great Business Name

Your brand name shapes the perception of clients, partners, and employees. It’s the first impression. How excited are you to wear headphones from a company called Tokyo Tsushin Kogyo? That was Sony's previous name. Now, "Sony" is a sleek, four-letter brand name that screams innovation and global tech.

Here are 7 key business elements directly influenced by your brand name from day one. Make sure your selected choice ticks all of them!

? First Impression - the first thoughts people would have match your vision

? Personality - does the character of the company matches the name

? Memorability - catchy + easy to pronounce + unique

? Cultural & Emotional Connection - market dependency

? Brand Extension and Evolution - leave some room for growth

? Legal and Online Presence - the boring part which we should never ignore

? Differentiation - when everyone zigs, zag!

At least 1 in 3 clients ask us on the first call, "Why did you name your agency 'Pony'?" We tell them the story, they laugh, and then say, "Love it, that makes sense." No one has ever said they came because of the name, but I'm 100% sure the value we've gained from it is enormous.

Over the past few years, we have named quite a few tech companies, and it’s an amazing feeling to see a mass of people using that name to refer to an organisation or a product. It’s like giving birth to another entity.

Roll your sleeves and let’s help you name your baby now.

Step 1: Define who you are

Before exploring potential names, you need to establish a solid foundation that clearly defines your company and the culture you want to create. Ideally, you should collaborate with a branding agency to help you pinpoint or refine your brand strategy. For those taking the bootstrapping route, focus on defining and documenting the following:

1. Mission - purpose and goals guiding the company's strategic decisions. ("Organize the world's information" for Google)
2. Brand Values - core principles and ethics the brand stands for. (sustainability for Patagonia)
3. Tone of Voice - consistent personality expressed in brand communication. (playful for Innocent Drinks)
4. Target Audience - specific consumers the brand aims to reach. (ambitious professionals for LinkedIn)
5. Competitor Analysis - try to find patterns and gaps in the names competitors use.

Step 2: Brainstorm and Explore Name Ideas

It’s time to move on to idea generation. But before that, you can add some focus to your research by identifying the types of names you will potentially consider. Taking a more structured approach like this can also direct your thinking in ways that are more time-efficient.

1. Descriptive Naming - directly states product or service value. (Whole Foods, American Airlines)
2. Metaphor Naming - uses metaphors to imply qualities. (Apple for innovation, Nike for speed)
3. Evocative Naming - evokes specific emotions or experiences. (Coca-Cola for happiness, Netflix for entertainment)
4. Inventive Naming - creates or combines words for uniqueness. (Google, Xerox)
5. Acronym Naming - uses initials for brevity and recall. (IBM, ESPN)
6. Geographic Naming - reflects origin or heritage. (Nissan, New York Times)
7. Experiential Naming - suggests an experience or sensation. (Red Bull for energy, Tide for cleanliness)
8. Abbreviated Naming - shortens words for memorability. (FedEx, Walmart)
9. Pun Naming - employs humour or wordplay. (Piggly Wiggly, Ben & Jerry’s)
10. Alliteration Naming - uses repeated sounds for catchiness. (Dunkin' Donuts, Best Buy)
11. Foreign Word Naming - borrows from other languages for uniqueness. (Adidas, Fendi)
12. Functional Naming - describes the function or service offered. (Zipcar, PayPal)

Mark the categories you like and focus on them, aiming to limit yourself to three. Then find examples within these categories and stick them on your virtual or physical desk.

Now it’s time for some brainstorming. Start with mind mapping, where you place your central concept (your product or service) in the centre and branch out with related words, feelings, and ideas. Use visuals like colours and images to stimulate creativity and explore connections between different concepts. Miro and FigJam are great tools for this. The generated words can serve as a great starting point.

A few of the “keywords” we used for Pony.

Based on these words, keep exploring and going down the rabbit hole. Merge and combine words as needed. You can use a variety of AI tools to generate further ideas. Shortlist your options, aiming to come up with at least 20 that are acceptable to you.

Step 3: Evaluate and Refine Your Options

You have a good list of options now. It’s time to filter them out and aim for at least 2-5 names that pass this stage. Place them in a spreadsheet and score them on a scale of 1-5 based on the following:

1. Memorability - how easily can the name be remembered? Consider pronunciation and spelling.
2. Distinctiveness - does it stand out from competitors? Does it leave a lasting impression?
3. Relevance and Meaning - does the name align with the brand's identity and values? It doesn’t need to be descriptive of your services or products. For example, we are called Pony, but we don’t breed ponies. For now.
4. Availability and Legality - I always do quick research using the following sources: USA - here UK - here EU - here This is just a preliminary search to detect any obvious conflicts with active companies in the same industry. Once you pick your name, use trademark solicitors to move forward with the procedure. I usually use Trama (no affiliation) because it’s a convenient, quick solution with decent pricing. Their platform is straightforward, and they handle all the boring logistical stuff.
5. Future Growth Potential - Consider how the name would adapt if you expand markets. Don’t keep it too restrictive.
6. Domain Name and Social Media Availability - I use Namechk to search 90+ social handles in seconds and iwantmyname for quick domain searches. If the desired one is not available, check Name.com - there’s a high probability it may be for sale by the current owner there. If it’s a premium domain name, negotiate - I usually manage to drop the price by around 30%, sometimes even more.

Step 4: Test and Finalize Your Choice

Great job getting this far! Now, it's time to test your options.

• Run Ads - run some low-budget Facebook or Instagram ads using the same creative, titles, etc., but different product names. Filter the audience by gender, location, age, etc., to target your potential customers.
• Use LinkedIn polls - they're powerful and get good exposure. LinkedIn loves polls from some reason.
• Ask friends and family for feedback. It's more qualitative research. Start a conversation.
• Write down the names and domains in a minimal typeface (Helvetica) with your slogan underneath. Look at them for a few days.

• Create a wallpaper with your favourite names and set it as your phone home screen for a week. The average person is checking their phone 110 times a day. You'll see the names over 700 times, helping you gauge your feelings about them.
• Trademark overview - use Trama to check how difficult it would be to trademark the selected names. You can do it for free.

Congrats! You should now feel confident moving forward. If not, grab a beer, and hire a branding agency. Use what you learned here to understand their approach better.

Step 5: Launching with Your New Name

Now is the moment to unveil your new brand name. The approach varies significantly depending on whether you are introducing a name to an established audience during a rebranding or launching a fresh identity for a new venture.

Regardless of your situation, the key is to craft a compelling narrative around your brand name. Explain the inspiration behind the choice and how it reflects your company's values and vision. Engage your audience with a story that resonates, making them feel a part of your brand's journey and evolution. This connection fosters a deeper understanding and appreciation of your brand, enhancing loyalty and interest.

Summary

To recap the process ?

And here are the key lessons:

• Understand the Impact - a poorly chosen name can harm brand perception and cost financially.
• First Impressions Count - names shape initial perceptions, influencing how clients, partners, and employees view the brand.
• Reflect Your Identity - ensure the name aligns with your brand's values, mission, and personality for authenticity and resonance.
• Research Thoroughly - conduct competitor analysis to identify naming trends and avoid overlaps, ensuring differentiation.
• Explore Creatively - utilise a variety of naming styles and brainstorming tools to generate diverse and innovative name options.
• Evaluate Systematically - assess potential names based on memorability, distinctiveness, relevance, and legality.
• Test Effectively - use social media, surveys, and visual aids to gauge public and personal reaction to different names.
• Finalize with Confidence - after thorough testing and legal checks, choose a name that best represents your brand and has growth potential.
• Tell Your Story - when launching, create a compelling narrative that connects the new name to your brand's journey and values.
• Good vs Bad Names - good names stick. They evoke emotions and make you stop and think. Often, they may sound ridiculous at first. Bad names are bland. They aren't obviously bad choices, but they aren't amazing either. They are okay and acceptable, blending in easily with the rest.

This article was first published on F*NORM.com, where I write about building brands that thrive in times of rapid globalisation, AI, and digital noise. Features are easier than ever to build - brand equity is bloody hard! 18+ years of experience working with tech teams backed by YC, TechStars, and others.

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Stef.