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 It's been said, "A good name is more desirable than great riches" (Book of Proverbs). I firmly believe that. While a company reputation means a lot, having a good name can help move a company into a more competitive position.
Of course there are many businesses who do well despite being saddled with a poor name. The regional bank BB&T, though successful, in my opinion has a confusing name. Most people don't know that it stands for Branch Banking & Trust. The acronym BB&T could stand for anything, and Branch Banking & Trust is too generic to be memorable.
On the other hand, the smaller regional financial institution, Bank of Granite has a great name. It has meaning on several levels. When I think of granite, I think of something rock solid. In my mind I envision a granite encased vault inside the bank. My money is safe and secure with this bank.
Good company names are memorable and often have double meanings or invoke the right imagery. Poor names are confusing and generic.
A good name for a plastic surgery clinic: Genesis Anti-Aging & Cosmetic Surgery
Poor name: Piedmont Plastic Surgery
When I think of Genesis, I think of new beginnings, when I think of Piedmont, I think of a region in North Carolina. What does that have to do with physical beauty? Also there's plenty of Piedmont companies out there: Piedmont Manufacturing, Piedmont Painting, etc. In the final logo, Piedmont Plastic Surgery had to compensate for the poor name by coming up with an elegant swan illustration to precede the name.
Upstream is the name of a high-end seafood restaurant in the Charlotte area. It's a wonderful label, since it has levels of meaning: upscale plus the imagery of stream, perfect for a fish & seafood restaurant.
In my experience working with business people, I have observed that many form their company names with their own initials-JCB Accounting, RTL Capital. That may mean something to the owner, but the customers are left with a company name that has little meaning to them.
When launching a company, it's so important to get the name right from the start. It can be changed later, but why go through all that hassle and expense? It's better to start out strong in people's minds. Here's the bottom line:
Memorable and levels of meaning-good. Confusing and generic-bad.
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"Vonéi"
By: John Brandenburg on January 23, 2010