A name worth sharing...

Finding the right name for your business is a delicate balance of creativity and people management. Naming expert Sam Russell of Reed Words explains how to make it happen. 

Choosing a name for your business is a big moment. Get it right, and you can instantly tell your audience why you’re worth their attention. 

Take Bulb, for example, the UK’s fastest growing energy supplier. Launched in 2016, Bulb settled on a name that’s simple, friendly, and suggests power and bright ideas – perfect for a sparky start-up taking on the Big Six. But getting your name wrong? That can waste time and money, and risk serious damage to your reputation (just ask the Post Office about their Consignia episode). At Reed Words, we’ve named everything from travel websites to new sports. Over the years, we’ve learned that naming isn’t just a creative challenge, but a political one, too. When it comes to finding the name for a corporate brand, the challenge gets even trickier.

Finding your name

Let’s start with the creative side. Contrary to popular opinion, naming is not just about brainstorming. It’s an art and a science, and demands a considered process.

1. Decide what kind of name you need

Start with a clear idea of who you are. Whether that comes from your brand position or business plan, knowing where you’re going will focus the brief for your name.Take one of our recent projects: Exotix Capital started out as a traditional investment firm, specialising in developing markets. Two decades on, Exotix had evolved a new business model, as a platform to connect investors working in developing markets. They needed a new name to match. Enter ‘Tellimer’ – a different kind of name for a different kind of business. It’s a made-up word, with echoes of ‘intelligence’ and ‘emerging’ to hint at what Tellimer does. It’s got an established feel, almost like a surname, to reassure its audience. But place it next to competitors like ‘Renaissance Capital’, and it’s clear that Tellimer is moving into a different space.

2. Examine the context

No brand name exists in isolation. Check out your competitors’ names, and what else is going on in your target sector. Decide whether you want to fit in (and feel established and safe), or stand out (and feel fresh and disruptive). When HSBC wanted to launch a new kind of high-street bank, they chose ‘First Direct’ – and immediately set themselves apart from humdrum names like Halifax and Nationwide. But when Jordan Belfort (‘The Wolf of Wall Street’) set up a brokerage firm, what name did he choose? ‘Stratton Oakmont’ – a name so blandly corporate that it could sidle up alongside the Merrill Lynches of this world without anyone blinking an eye. 

3. Keep an open mind

Who would name a computer company after a fruit? Or call a mobile company ‘Everything Everywhere’? Or run any major company under the name ‘Virgin’? The strongest names can come in the most surprising shapes. In the early stages, it’s important to keep an open mind – and keep everything on the table.  What about a made-up name, like ‘Monzo’? Or a name that brings two words together, like ‘Netflix’ (flicks you can watch on the internet)? Or a name that uses a metaphor, like ‘Alphabet’?

Sharing your name

You’re finding your names. You’re building your shortlist. And meanwhile, along comes the really tricky bit: the internal politics. 

1. Set expectations

“We’re looking for a name that conveys our heritage, innovation, global capabilities, local expertise…” If that’s your stakeholders’ ambition, they’re going to be disappointed. Because if you’re a large organisation with lots of different services and expertise, no name can possibly capture everything you do (or might do in the future). And that’s before you start asking questions such as: “Can we trademark this?” (fingers crossed), “Can we get the .com?” (probably not), “Does this mean something weird in another language?” (looking at you, Ford Pinto – or Ford Small Genitals, as it’s affectionately known in Brazil).Discovering reasons an idea won’t work is an inevitable part of naming. Flagging this at the start means people are ready for it, and less likely to get disheartened. 

2. Keep your team small 

Choosing a name is hard. It’s a process that evokes strong opinions and passionate arguments. The more people you add to the conversation, the harder it gets to reach a decision. In the past, we’ve attended naming workshops where 40 people are expected to agree on one name. That’s unlikely to happen, and risks eroding faith in the process. This doesn’t mean you shouldn’t go out to a wider group for ideas and feedback. (Online tools like Google Docs or SurveyMonkey can be a useful way to manage this.)  But the more people you enlist, the more careful you need to be. Make it clear what kind of contribution you’re looking for, and who has final say. That way, you’ll soften the disappointment colleagues will feel if (and when) their ideas don’t seem to have made it into the final name.

3. Tell the story

A name is a really difficult thing to assess objectively, especially in isolation. So people tend to respond with their gut. “It doesn’t feel right.” “I can’t imagine saying it out loud.” That’s why it’s important to tell the story of how you arrived at your name, and show how it’s going to work for the organisation. Put each favoured name into context. Show how it’s going to look on your website, or how your colleagues will use it in conversation.  “I work for Sesame – we’re a one hundred year-old bank that’s working out what the next hundred years look like…”

It matters – but it’s not everything 

And finally, a confession. Your name can be a useful tool for your business. It’s worth spending time over. But it’s not the be-all and end-all – and you shouldn’t let your organisation become bogged down in workshop after workshop. 

After all, many of the world’s most successful corporate brands have completely obscure names. How many people know that Sony comes from the Latin word ‘sonus’ (meaning ‘sound’) and the 1950s US slang word ‘sonny’ (used to address a young male)? Or that Accenture comes from ‘Accent on the future’? Or that Bluetooth is named after Harald Bluetooth, the tenth-century king who united the warring tribes of Denmark?

To start, these names didn’t mean much at all. But over time, they’ve gained layers of brand-specific meaning – and they’ve become invaluable. 

The Luminous view

Naming can be one of the trickiest jobs in brand development. It can also be relatively straightforward – if you have the right building blocks in place first. Establishing a clear brand architecture not only provides guidance on how to structure your customer offering, it also offers direction on how to name divisions, sub-brands and products/services across your organisation. This, in turn, helps oil the wheels going forward as you can politely ask your marketing and comms colleagues to defer to your company’s naming rules and guidelines should they ever appear to be neglecting them. 

Sam Russell
Reed Words

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