I co-founded a consumer finance business earlier this year that helps US consumer decrease their debt burden using innovative payment solutions. We have been live in the market for about 5 months. We would like to choose a final name for the business that we can use going forward (we have been testing several names) and want to develop a proper strategy to do this. I would love to connect with folks who have significant experience in branding for B2C companies with traditional marketing focus (and emphasis on direct mail).
Try the telephone test. Every time someone in your family or someone else at the company calls you, answer the phone with the name. How does that feel to you? Does the person at the other end understand exactly what you just said? Try the cocktail party test - imagine you're at a football game or a cocktail party or a concert, and the person next to you asks where you work. You cup your hand over your mouth and yell it to them over the noise. Did they understand what you said? Does your name sound like something you don't want to be associated with (Terrace / Terrorist)? Try a Google screening - and don't just Google the name itself - write down 15 ways the name could be misspelled. Google them all. Is one of them a competitor? An escort service? A reunited '60s rock band? Look into The Elbow Room. Technologies change all the time, business plans evolve. Does the name give you elbow room to grow, adjust, or even completely start over, either with technology or process? These are a few ways to judge between some finalists.
Answered 9 years ago