The importance of naming is underrated
Various factors lead to business success. First of all a great idea, top quality products or services, a clear positioning, high performing sales and marketing departments, suitable strategies, perfect after sales services, strong innovation spirits, highly motivated employees, a perfect customer relation management system and processes and many more. But there is one area that very seldom seems to be considered as being very important as well. It is what name you give to your company, products or services. Naming is one of the first and most important business decisions that have to be made. Leaders and top management rarely focus on this topic since it just doesn’t seem to be important enough. Probably because the impact of a name cannot be measured in figures and because of the unawareness of the importance good naming is. So naming does not appear as very relevant. But it is a fact that names do have an impact and provide their share in a brand’s value and therefore in a company’s longterm success. Even big corporations that have their successful products on the market launch new products again and again, and at the end the company’s success relies on the two, three hero products, whereas other products fail. There are various reasons for product failure. It is seldom or never seen as being the result of weak naming. But often such products are given trendy or me-too names, or they are not distinctive enough or they just don’t meet some of the most important naming criteria. In addition the naming of products/services is not always prefessional. And the decision makers within a company are not necessarily the right people to create a name. Naming should be put in the hands of specialists in order to avoid weak naming. Of course, naming is very sensitive since everybody wants to name his/her own ‘baby’ themselves. However, when it comes to business it should be handled in a different way. We strongly suggest you not make naming your next product a brainstorming event with drinks and snacks. You may find a name you like, but it may not be one that meets the essential criteria of good (right) naming. Why not try and contact us!