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Naming Your Company? 4 Ways to Get Unbiased Feedback

Sell your team on a new company name by following these four steps.

This article was originally published on Inc on June 10, 2015. 

Two years ago, I had an epiphany. And I did what entrepreneurs fear most after successfully being in the same business for over a decade: I made a big change. I decided to drastically reposition my design and branding business, and with that came the necessary name change.

After crafting hundreds of names, I picked the name FINIEN. The team had its doubts. The name could be reminiscent of a shark (fin) or even death (finir in French = to finish), hence no one would ever hire us again, especially as a consultancy that crafts names for a living. We might be doomed. Despite these fears, we moved forward with the name, and that decision has treated us well.

FINIEN_Naming_Feedback

Here are four key takeaways from naming companies like our own that will assist on your quest for a great company or product name. The rule above all rules: after consulting with (and hiring) professionals who derive names for a living, trust your gut and go for it. 

So you went through the checklist and you feel it is the right name for your company moving forward. If that’s the case, don’t open it up for the emotional, unproductive feedback typical of a larger group. If you ask your significant other, (s)he will likely react emotionally and might not understand the full strategy, research and context. (S)he will hear an unfamiliar name and will immediately sense danger. If you ask your co-workers, they might have similar feelings, in addition to the fear of their professional future within your company. What if the name backfires? Why does our fearless leader have to ask us, “Is it not a good name?

They should be afraid. Naming is a scary thing, but lucky for them, you already did that part for them and you’re confident that you’re on the right path. That said, sometimes you just have to ask for peace of mind and to give your key partners a feeling of ownership prior to officially taking this significant step.

As long as you present a clear case as to why a name change is necessary, tell them that you’ve narrowed it down to 1 (or 2) final name(s) through hiring a professional naming agency (if applicable) and that you have a clear favorite (and explain why). You now want their buy-in (what you will get is their opinion) just in case you forgot anything when making that decision (and make sure they’re in the know for the big announcement). If you’re about to have that meeting, here’s how to go about it the right way:

1. Define the Confidants. They Will Define The Outcome.

Who should be the two to four people who you want to gain feedback or buy-in from? Choose them based on their involvement in your company. They may be co-founders or partners, but they shouldn’t be freelancers, non-VC level employees or peers. Not to discriminate, but to keep it to a very small and influential group that you’d like to have your back during the rollout phase.

2. Be Confident. Be Assuring.

Tell them you made up your mind, even if you’re still split between two names. Explain why the change was necessary. Share how long the process took and how many names you went through to get there. If applicable, share that they’ve been professionally derived and vetted and you feel very excited about the new company/product name. It’s a new era and you’re thrilled to let them in early on.

3. Story First. Names Later.

Present them with only one or two names. Even if you’re still indecisive, sound assertive. If your presentation feels insecurely, they will feed that fire. First, tell the story of each name as well as the meaning and the keywords that have been used–only then show them the name. After sharing the backstory, say the name out loud while showing it on screen or on paper. As they familiarize themselves with the name, tell them your grand vision for how clients and co-workers will use it, how it sounds answering the phone, how great it would look visually, and how the name really tells the story of your company without limiting your future growth. Repeat for name No. 2, all while keeping the next rule in mind.

4. Leave the Past Behind: Say Hello To the Future

While looking at the new naming options, most will only associate with the past (the ‘faster horses’ syndrome). You’ll have to reiterate the idea that this new word will soon not represent any current connotations (usually only negative ones will be brought up by the group, like ‘death’ and ‘shark’), but will instead represent your company. Your mindset is already in the future; if you’re renaming, you already emotionally detached from the current and attached to the new name. It will be a big challenge for them to overcome. Remember our name, FINIEN? The (short and rather brilliant) name would have likely died by committee based on past associations. Today, you hear FINIEN and you think about branding, startups, and yours truly. It’s how it works. Brands are being built. You have to explain why it’s necessary to think of the name six months from today. Try not to associate any words with the name, but rather the image of your company.

Gaining buy-in is crucial to finding a great name. Use these points to prep for the meeting that may decide the future of your brand’s name. And, most importantly, trust your gut.


Twitter’s Periscope: What’s The Naming Scope

As you may have heard, Meerkat now has a new, serious, competitor. And no, it’s not the Minneapolis agency Periscope, which greatly enjoyed getting a lot of buzz today when Twitter launched Periscope.

Twitter did not talk to the agency by the same name, has not asked them for their Twitter handle @periscope (Wait, really? They kept @periscopeco), nor cared about the fact that they are naming their product the same way. Twitter decided to stick with the name of the startup they acquired, a very ‘speed-to-market’ move, and when it comes to naming, a highly questionable one.

FINIEN_Periscope_Branding

Twitter is 36.5 million followers larger than the agency by the same name, and the world will, after just a few days, think of Twitter’s service – and Twitter’s service alone – when hearing the name Periscope. Periscope, the agency, will not be so happy about it when confusion turns into annoyance and a dillusion of their smart brand name.

The question remains: Why stick with the name Periscope? A rather great name for a ‘full-spectrum creative agency’ that helps uncover and look at things differently, but for a live-streaming app?

Given all the red flags, they kept going with a name that stands for an apparatus consisting of a tube attached to a set of mirrors or prisms, by which an observer (typically in a submerged submarine or behind a high obstacle) can see things that are otherwise out of sight (via Google).

Leaving early adopters to adjust to a new name in order for a brand to focus on its much bigger future after having serious funding infused, or being bought by the big guys, would be the right move. Startup names are often just that, they are quick MVP’s of something that really should not be driven by lean startup methodology to start with. And definitely not go past an acquisition or merger.


Do You Embody Or Represent Your Brand?

You can establish/own/run your brand; you can represent your brand; or you can literally be and fully embody your brand.

If you create a brand that is solely based on yourself (obvious examples include a fashion brand, thought leadership brand, Etc), know that if you ever have the desire or need to re-brand and/or re-position, you will face many challenges. Sounds logical after the fact, but as you go down that path of associating your name with the brand, it is easy to let the ego, or the simplicity of finding the domain name, run the branding process and push you into the limelight for good (may that actually be for better or worse!).

 

FINIEN_BrandAsAPerson

 

The issue of personal brand re-positioning will gain public attention during the US presidential election next year as we will be faced with two very different (and different types of) personal leadership legacy brands. Who is Hillary Clinton 2016 is what I pondered in The Washington Post (read this past Sunday’s cover story here) as we are collectively trying to re-define what her brand stands for today. Is the latest Bush brand in fact what the general public would assume it being based solely on his brand inheritance? I am not in politics (and smart enough not to discuss politics as part of my professional blog), but this comparison is the easiest way for you to watch the strategy, drama, and difficulty of personal brand re-positioning unfold on the big stage.

If you decide to be your brand, like a Martha Stewart did so famously before you, the coming months might make you re-consider and opt to solely represent your brand instead.

 


“You Told Me My Company Name Sucks”

…was the subject line of an E-Mail I received a few days ago. Needless to say, I was intrigued to read on:

“I called my company “(Name Withheld)”, but you told me it was horrible. For that reason I wanted to reach out and say THANK YOU!”

He listened and he turned the page and now he is grateful for my frank advice just as much as for him listening and acting upon it. This is how I want to start off the New Brand Post for 2015 as it sums up what is key to branding a new venture, and what I want you to keep upfront and center this year.

FINIEN_Branding

When you start a new venture, or initiate a new product offering, you tend to know best. You know your product best, you know your audience best, you know your marketplace best. You know your road map best. So, naturally, you are closing off quickly. Why? Because you know best.

Truth is, you just can’t be great at everything. I am not. No one is.

The moment you let go of that notion is the moment you open up to greatness. As a person, as a founder and as a brand.

Successful brands are built in collaboration with – and powered by insights from – specialists within their domain. The ones that are great at a certain thing, just like you are at your thing. It takes money and/or time, but for the ones who ‘get it,‘ like the one who wrote me above E-Mail, it will make for a better, if not great, brand.

This year be open, listen, absorb and analyze every step along the way as it relates to tasks like naming, brand identity, online presence, brand positioning, the same way you analyze, and more often than not over-analyze, each feature of your product or service offering. Branding is the first feature your target audience will be exposed to. It better click the right way, right away.

 


The Secret Behind Big Brands And How Entrepreneurs Can Learn From It

This was one of many topics I was asked about by a croatian startup site prior to the speech I gave two nights ago at the University of Zagreb for the Founder Institute. The interview was published in croatian, which you can peruse here if you speak the language (and want to analyze and help me understand why the Backstreet Boys invaded my Brand Atmosphere), but for the rest of you, here it is:

Startups, especially the ones you will be talking to in Zagreb, are mainly in their early stages. Do they even need branding in that stage? If they do – what kind of branding do they need?

You can never start thinking about branding early enough. Branding is the DNA of your new venture. An idea is only an idea until it is generating revenue, so basically an idea without an audience is worthless and in order to connect with, and build an audience you need to brand your venture: Position your venture in a manner that connects with your audience, craft a name that reflects the positioning, then translate it into a powerful overall brand identity that sparks emotion.
Fabian Geyrhalter speaking at the University of Zagreb for the Founder Institute, October 22, 2014

Fabian Geyrhalter speaking at the University of Zagreb for the Founder Institute, October 22, 2014

How can you brand yourself online when you are still a small startup, with a very small team and a limited budget?

You brand yourself by walking the walk: by representing the positioning of your startup, by talking in the right way to the right audience. That can be done without monetary expenses, if the brand positioning has been done the right way. You can learn about the 5 ingredients to a strong brand foundation here.

When is the right time to hire someone (or a company) to help with branding?

Hire a consultant before you make decisions on the positioning and the name. After that you could bootstrap, if you truly need to, and conduct a complete re-branding/branding upon receiving funding or customer traction. Do be aware though that when you decide to go lean on branding it will be harder to find traction and funding, and that customers quickly get attached to your branding, especially as a new company, so once you decide to invest in proper branding you will have to re-educate your audience on the new ‘you,’ hence I advise to work with professionals from the get-go if at all possible.

Can you put together some sort of “emergency branding kit” for startups? What would that “kit” be made of?

Absolutely, and I provide more in-depth tips on each topic through these links:
Last but not least create only a few social media channels, only the ones that A) work for your audience and that B) you will update frequently (daily, or every other day).

It gets really difficult for a startup to choose their company name. It has to be unique, it has to be international, it needs to mean something. How do you achieve all of that and more with just one word?

It’s tough, but it’s do-able. All it takes is time and the right guidance. It’s one of the most important branding tasks, so don’t give up quickly and cheat by settling for the ‘wrong’ domain name (anything not .com as a rule of thumb – some guidance on that topic here), or a misspelled name (think ‘lyft’). You can, but it will weaken your brand’s strength, its searchability, spread by word of mouth and it often makes it more costly to purchase the .com domain later on as a recognized company.

How can a startup’s target audience help with forming a brand? What kind of feedback can that audience provide and how can a startup brand create an emotional connection with their potential customers?

Startups often have an idea, then search for an audience. That audience in turn tells the startup what they actually use that idea (product/app/service) for and the startup adjusts its offering to the new audience, and the new usage of its offering. Happens all the time. I preach to startups to be very clear about their audience from the get go. Only if you truly understand a few target ‘personas’ can you focus on them and connect with them emotionally, and emotion is what branding, and often selling, is all about. Once you connect, you tell the audience what they will love, not vice versa.

What is the secret behind those huge, well known and beloved brands and what can small startups learn from them?

Most huge brands got there because they filled a void (innovated at the right time) or had a better offering, but they all connected with their audience on a deep emotional level. So the ‘secret’ that I believe startups can adapt from the big guys is to invest in what’s most important: your audience. Most startups don’t invest in branding at all, instead they pour all their resources into product development.

Branding For Startups: Learn what matters the most in 13 minutes

A short video for startups to learn how not to screw up branding.

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Brand Naming: Guess Who ‘Blue It’? A Lot Of Them Did.

When I caught up with our long-term collaborator Matt Dandurand of Media Contour the other day he mentioned that he came across a breed of hilariously ‘mis-named’ IT companies. He had to share this phenomenon with me as it was very hilarious, yet so awfully sad at the same time, and he insisted that I dedicate a blog post to it that can turn this whole thing into something educational for my readers.

I was doubtful.

Then Matt shared how, during some research he was conducting on IT companies, he came across a company named ‘Blue IT’. He thought it was funny, especially when typing the url. A quick Google search later he found a slew of them that blew it, all the same way.

Blog_Graphic_BlueIt_Naming

Now I am not in the business of picking on a random company’s name, it seems a bit cheap, but I do feel this serves as a great pointer to the fact that naming is to be taken seriously, regardless of company size and industry. Ample time needs to be spent to ensure, yes, that you don’t blow it. This guide will help you. It focuses on what makes a great brand name, now that we know what makes an unfortunate one.

FINIEN