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I met a banker this week with the first name Carnarri (pronounced Canary – as in the bird). My first conversation with Carnarri was over the phone. I had all sorts of images of this banker. I never met a Carnarri before. Would he be tall and blond like Sesame Street’s Big Bird? With a profession as a banker (who I believe should be somewhat reserved and conservative), why didn’t he use his middle name? Could a banker with such a name be proficient in finances?
When I met Carnarri the following day, I realized the name suited him beautifully. He is tall, handsome and possesses an engaging brilliant smile. He is not however, flighty like a bird; instead he is graceful, had excellent manners and impeccably groomed.
As we chatted, he told me his mother arrived at the name while giving birth. After five minutes I was reminded about the power of a name in branding a company. Numerous persons have changed their names in order to become more accepting to the public. Actors and singers are perhaps the most well-known persons for changing their names.
| Examples of Actors Who Changed Their Names | |
| Birth name | New Name |
| Walden Robert Cassotto | Bobby Darin |
| Marion Michael Morrison | John Wayne |
| Dana Owens | Queen Latifah |
| Alan Alda | Alphonso D’Abruzzo |
| Cherilyn Sarkisian | Cher |
| William Michael Albert Broad | Billy Idol |
Actors and singers are the only persons who understand that names can attract or detract customers. Ralph Lifshitz didn’t think his name had enough panache for a business. He changed his name to Ralph Lauren. This master marketing maven (try saying that three time really fast) has transformed the way products are branded. His Polo brand has revolutionized global marketing. Consumers wear his logo with pride. Why? Because his products are superior and he built an outstanding brand. It all started with the company name – Ralph Lauren.
As we look at the fashion industry, some names were preordained to succeed. Gloria Vanderbilt made her fortune dressing women. The Vanderbilt name has international star quality for wealth, power, and brains. Her designs and talents took her empire straight to the fashion eclipse.
There isn’t a man, woman, teen or tween that doesn’t know about Victoria’s Secret. The store title brings up images of hidden dreams. The lingerie retailer fulfills the secret desires of men and women alike. The runway shows, catalogs, website and stores have transformed men and women’s purchasing patterns of lingerie.
The following is a list of guidelines when developing business names. These guidelines will work when naming a company, brand, label, or product.
- Make it brief: Think about the speed in which you drive past a business, click through a webpage, or walk down a street. Customers need to be able to read your company sign in a matter of seconds (not minutes). Long names may look pretty on the marquee but they are difficult to remember. For example, some of the most successful retailers have brief names. These include: Tiffany’s, Bloomingdales, Macy’s, Neiman Marcus, Chanel, Target, Kohl’s. A consumer could be speeding down the street or playing dodge car in a taxi and still have time to read these company signs.
- Create a positive image: Positive images can be created through a word, a font, colors, and/or backgrounds. The following is the name of an actual company: “Anything Joe’s Barefoot” What do they sell? Any guesses? They sell personalized gifts for kids.
- Create visual appeal: Imagine your company sign above your building doorway. Does it look visually appealing from afar? Does it represent your desired image? If not, the company name needs to be rebranded. Visual appeal is definitely a subjective topic. Top considerations include the location, target market, and merchandise products carried.
- Be consistent: Spread the news that your company is conducting business. In other words, the company name should be on everything. The number one rule to this marketing tip is to be consistent. Use of the same font, color, and style is critical. Train your customers to readily point out every time they see your company logo, brand or name. For example, the Gucci name and logo are used on all signs, packaging, websites and promotional materials. Consumers interested in fashion can spot a Gucci product with a blink of the eye.
- Be unique: Avoid using a name that is used by another company. A name that even similar to another company can cause legal difficulties. At the very least, consumers may become confused and patronize your competition. For example, I collaborate for a company called BIGresearch. The company collects nationwide consumer data each month. The data is used to help retailers better understand consumers purchasing intentions. The name (BIGresearch) clearly says what they company offers – - a lot of research. The name is also unique. No other company in the world has a name even remotely similar to this name.
Think long term: A company name and its brand should last the test of time. Consumers like consistency in companies, brands, and products. Oh sure, they say they like new products and features. But in actuality, they flock toward companies that are steeped in history. Don’t believe me. Go to any website and look at retail giants. They feature a portion of their website to the company’s history. Consumers crave information about how a company started, progressed, and what the company is doing today to make consumers even happier by purchasing more of its products. Teaching consumers why the company chose a particular color or name will go a long way to selling merchandise.
