For this week, another common naming mistake.
4. Confusing the need for information with the need for differentiation
When choosing a name, companies often fall back on descriptive terms - based on the belief that they are easier to sell and require less marketing investment, or thinking that the more overt the name, the more likely to be understood - and so picked - by customers. Or simply because these types of names feel safer.
But descriptive names aren’t always the answer, particularly because they can be limiting as your brand promise evolves. To effectively decide, it’s important to define the role the name needs to play: whether it’s to describe a function, signal a departure from where you are today, or to position something new and different.
Neither approach is right or wrong. Strong brands and mindshare can be built on both. Think of names like The Container Store or Bed, Bath and Beyond, versus names like Target or Ikea. All successful brands, each with a different name approach.
Spend time deciding on the best approach for you, and don’t always settle for safe. It’s the difference between creating a name that is easy to remember, versus a name that’s hard to forget.
