Sunday, January 11, 2015

How to choose good company name

Knowledge Sharing:
1. When "people are paying you to advertise your brand that's the ultimate in a good name."
2.  According to Cecil, a powerful name must instantly communicate what customers should expect to feel.
3.  The most important requirement of modern-day naming is to rise above the level of what the company makes and does, pushing past the product functionality or mere service offering and transcending into the realm of what the (intended) brand experience is like—or as—to the user
4.  A typical naming assignment takes Cecil between two and three weeks, during which he delivers around 300 names. He begins by conducting an in-depth marketplace survey to examine opportunities for new brand archetypes. He then takes four to five hours to fully digest everything he has learned from his research, client conversations, and planning sessions.
5.  During this first creative session, he generates approximately one name per minute. During the second creative session, he types up his notes in search of additional channels worth pursuing. Once he’s generated a full list of names, he sends the list to his client.
6.  “The best way to come up with a great name often involves first coming up with a great number of bad names,” Cecil said. “You have to work through the first couple (hundred) obvious ideas before you get to the brilliant-but-not-obvious connections that are truly memorable and marketable.”
7.  A name has value beyond basic branding, and the process is more complex than just choosing the one you like. Legal compliance and search engine compatibility must also be taken into consideration.
8.  Before you even start ideating, prioritize the criteria you’ll use to evaluate the names. Naming is subjective, so try to quantify your bias,” he noted. “Answer this question as many times as you can, in order to capture everyone’s expectations: ‘I want a name that . . .
9.  What's a winning business name? A business name that draws business in itself.
10. Business is an organization or economic system where goods and services are exchanged for one another or for money.
11.  So choosing a business name such as “Crychalwellyn” is a bad idea. Unique is good but difficult spellings are a bad idea.
12.  Many words have both denotation (literal meaning) and connotation (emotional meaning).
14.  A word’s connotation can be positive, neutral or negative, depending on the emotional associations that people generally make. The classic example is the difference between “Mom” (which has a very positive connotation) and “Mother” (which has a neutral connotation). Now you know why they called them “Dad’s” cookies, rather than “Father’s”!
15.  You want a business name that conveys strength and reliability. A choice such as “Stone Creek Trucking” would be much better. Notice how all these names have a strong visual element.
16.  So you need to be sure that your new business name at least gives your potential customers or clients some clues about what you actually do. That’s why you see so many landscaping businesses that have the word “landscaping” in their name, and hair styling businesses that include words such as “salon” or even “hair designs” in their names.
17.  Including information about what your business does in your business name also makes it easier for potential customers and/or clients to find your business in phone books and directories (both off and online).
18.  Swap is natural, not a god name.
19.  Color symbolism is the use of color to represent traditional, cultural, or religious ideas, concepts, or feelings or to evoke physical reactions.
20.  Colors are more than a combination of red and blue or yellow and black. They are non-verbal communication. They have meaning that goes beyond ink.
21.  

Considerations:
1. Branding
2. Legal Compliance
3. Search Engine Compatibility





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