One of the first things startups grapple with is what to name their company. And next, should they have a company slogan or Tag Line to help further explain what they do? How about a logo?
All valid questions. The basic rule of thumb is to create a company name that lets’ customers know what you do, especially if you’re in a new category or just starting. It obviously doesn’t matter whether McDonald’s changed their name, since they have spent decades building up the brand. Same as United Airlines – “The Friendly Skies” slogan had withstood the test of time, as has the Gershwin music that has been a trademark of their advertising in many different forms – both animated and live action.
If you’re starting out in a new category, it may be best to come up with a completely new spelling. For example, instead of naming an Apple Watch strap company something usual, we called it Strapley. Or a clothing line made specifically for exercise and to dry out quickly due to special fabric, we called DRIRUN.
Spelling, especially these days, for company names is much more unconventional. The key is to get people to remember the name, and be able to go look the company up on the Internet when they get to a place they can do so.
After personally naming more than 100 companies and products, we can help with a branding and messaging strategy that will create a name and slogan, and help get it publicized.
The bottom line – what’s in a name? Everything.
Rob Rappaport, CEO, Canalco Consulting