Naming A Consulting Company - Four Key Steps For Successful Branding

For many of these aspiring entrepreneurs, creating a compelling brand name is new territory, a complete and utter mystery. They know it's an important part of the equation, and they may have even had a full time marketing department at their previous firm. But now it's "do-it-yourself-time," and there's a dearth of information on how to brand a new consulting company successfully.
Fear no more.

The first step in branding a consulting company is to know your objectives. Here are four key questions to clarify your goals...

1. Do you want your company name to stand out, or fit in?

This may seem like a trick question, but there is not a right or wrong answer. Some new consultants are so concerned with gaining acceptance in their industry, they are much more comfortable with a name that sounds established and credible, right from the outset. If that's the case, try looking up a list of others in your industry on sites such as dmoz.org <http://dmoz.org/>. You will then gain a sense of the nomenclature used in your field. You may be able to emulate the feel, much like other industries have done (i.e. Microsoft's Outlook, Apple's Safari, Netscape's Navigator, etc.)

If want to gain notice, then do just the opposite. Look at the comapny names in your field and use interruptive naming strategies. For example, if nearly everyone in your category use proper names (sometimes known as "legacy" names) then go with a metaphor (i.e. Jaguar, Caterpillar, Amazon, Monster, etc.) to convey your company's attributes. Or try positive connotation words to create an entirely new identity (i.e. RedHat, OnStar, FireDog, etc.) Just make sure you have a rationale that can explain why you chose that name, and one that leads to a deeper dialog about your company.

2. Have you explored all the possibilities?

Frequently, new business owners become frustrated and discouraged when naming their new businesses, simply because they've attempted only one or two naming strategies. Many times they've created a list of literal/functional names, (i.e. Custom Software Consulting) only to find the domain names are gone. Or they've attempted some obvious metaphors (i.e. Summit, Pinnacle, etc.) and found dozens of companies with similar names. The trick is to employ several methods. These include...

• Key attributes -- For an example, we named one staffing company BrightHire.com based on their desire to attract the most intelligent candidates. You can see this employed with company names such as SirSpeedy, EconoLodge, Priceline and Smart Cuts. Is there an overarching benefit you provide that you can incorporate into your name?

• Invented names -- This is a favorite with consultants but proceed with caution. It's easy to get caught up in with the chase of a new name and gradual twist the spelling and message until it's unitelligable. It's okay to use Latin word parts and obscure references if the name can still be spoken and spelled easily. Small firms have the advantage of conveying part of the brand message in person, over the phone, or at a trade conference. But don't push it. If you find yourself having to constantly spell or correct the spelling, then it's a miss. And keep in mind the name can be invented and still carry a sense of meaning. We named one company Claricent, because they were able to provide clear insight and direction to their client base. So you can still convey an attribute, even in an invented name. (i.e Verizon = Horizon, Agilent =Agile, etc.)

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Phil Davis is president and owner of Tungsten Branding, a naming firm specializing in brand creation, product naming, tag line development, corporate identity and comprehensive brand repositioning. Phil's client list includes PODS, TeamLogicIT and Coghead.com to name a few. His complete client list and company naming philosophy can be viewed at www.PureTungsten.com.