NAMING

Forbes says that when starting a business, “choosing the right name is one of the most important decisions you can make.” The Hayden Group team has experience naming spin-off companies from major corporations, and consulting with startups naming their companies.

Corporate Naming


From a marketing perspective:

• It is important to carry-over brand equity.
• Explore opportunities for a major marketing event if you have substantive news.

From an employee perspective:

• Involve employees in the process for faster employee adoption.
• Effective employee communications programs are critical.
• Positive employee benefit changes will optimize adoption.


Naming Startups


Here’s the bottom line. You can name your company anything you want to. It’s your company. The more challenging your name is for your customer to pronounce, remember and understand, the more dollars you will need to spend on marketing—just to promote your name. If you are thinking: "what about "Google? They had an unusual name and now everyone knows it." If you have a product like Google, a delivery system that reinforces your name like Google, and early days press kudos like Google...go for it.


Naming Products


Naming products is equally strategic:

• Product names should reflect, extend, and complement brand positioning.
• A new product name should be synergistic with your existing product line.
• Consider future product plans so product line naming architectures can be mapped.