How to apply naming strategies to effectively define and extend your brand
by Paula Satow, Satow Strategies, LLC

Clients often come to me asking for help in naming a new company or re-naming an existing company. In the course of exploring their strategic requirements, we often discover that there are actually a lot more “name-worthy” elements to their offerings than meet the eye. I find that the more effective we can be in discovering and leveraging these hidden areas, the better it is for their brand in the long run. This holistic approach to naming may cost a little more upfront but translates into higher brand valuation in the long run.

Here’s a list of focus areas you should consider when it comes to building effective name strategies for your business:

Company: Naming the company is obviously the single-most important aspect in any business naming process. Referred to as the “Corporate Umbrella Name,” the company name needs to work well in any context or brand hierarchy -- whether it is integrated in product and service names, i.e. – “Microsoft® Office®” or whether it serves more in the role of a corporate name only, in the background like “Post-It Notes®” (“from 3M”).

Category: If your company is drowning in a crowded sea of competitors and you’re having difficulty keeping your product or service afloat, consider re-positioning your offering by creating a new category, poising your unique value as central to the market. For instance, if you’re in the office furniture business but you’re products are all uniquely made of sustainable woods and materials designed in pre-made sections for cost effectiveness, be bold and stake a claim in a new market category you’ve dubbed, “natural modules.” This sounds a lot more unique and interesting than “office furniture.”

Offering: Product and/or service offerings can be ripe with brand name opportunities. While you should never err on the side of “branding everything” – such a shotgun approach can be a brand-diluting, market-confusing and budget-depleting proposition. It’s a good idea to start with a brand hierarchy that clearly conveys how your products and services fit in relation to your corporate umbrella brand. They may be worthy of their own product brands or sub-brands to convey their significance in the market as well as in your company’s portfolio.

Technology/Unique Capability: If you have unique intellectual property (IP) that you have either patented or have a patent pending, it is worth considering a trademark name that effectively positions its unique value in the market. You may even consider an ingredient brand strategy. While this type of program can be expensive and complex to manage, the payoff can be tremendous if your customers want to tap into the power and panache of your “secret sauce” for their own products.

No matter which naming projects you need to tackle, Satow Strategies is here to help – from company re-naming to ingredient brand strategies, we can help you build effective strategies, programs and implementation tactics.

Contact us at 602-481-1942 or at info@satowstrategies.com to learn more about how effective naming strategies can boost your corporate value.

© 2007 Satow Strategies LLC
Other names and brands are the property of their respective owners.