Marketing Mistakes to Avoid When Selecting a Business Name
Mistake #1: The Committee (Getting all your clients, employees and family members involved)...
Mistake #2: The Train Wreck (Taking two words and colliding them head on)...The problem with this approach is that it’s simply forced – and it sounds that way...
Mistake #3: Where's Waldo? (Names so plain they'll never stand out in a crowd)...
Mistake #4: The Atlas Approach (Using a map to name your company)...
Mistake #5: Cliché you say? (A good name is worth a thousand words)
Once past the literal, descriptive stage, the thought process usually turns to metaphors. These can be great if they are not overly used to the point of trite. Since many companies think of themselves as the top in their industry, the world is full of names like Summit, Apex, Pinnacle, Peak, etc. While there is nothing inherently wrong with these names, they are just overworked. Look for combinations of positive words and metaphors and you will be much better served. A good example is the Fortune 1000 data storage company Iron Mountain, which conveys strength and security without sounding commonplace.
Mistake #6: Hide the Meaning (Make it so obscure, the customer will never know!)...
Mistake #7: The Campbell’s Approach (Using alphabet soup to name your firm)...It’s not that coined or invented names cannot work, they often do. Take for example, Xerox or Kodak. But keep it mind, names like these have no intrinsic or linguistic meaning, so they rely heavily on advertising – and that gets expensive. Many of the companies that use this approach were either first in category, or had large marketing budgets. Verizon spent millions on their rebranding effort. So did Accenture. So check your pocketbook before you check into these type of names.
Mistake #8: Sit On It. (When in doubt, make no change at all)
Many business owners know they have a problem with their name and just hope it will somehow magically resolve itself...
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