Name Game: The Importance Of Strategy And Process
Naming is one of the top challenges in B2B marketing today. While there are no universal truths, there are strategies and processes that should be applied in order to optimize the names and naming systems that are among the key brand assets for every company.
Published on: Mar 3, 2016
Transcripts - Name Game: The Importance Of Strategy And Process
By Marianne Moore, Partner, Strategic Services, Stein + Partners Brand ActivationName Game: The Importance Of Strategy And ProcessNaming is one of the top challenges in B2B marketing today. While there are nouniversal truths, there are strategies and processes that should be applied in order tooptimize the names and naming systems that are among the key brand assets for everycompany.Names have the power to differentiate, establish emotional connection, and ignite theimagination and interest of customers. Conversely, they have the power to obfuscate andalienate.Per the above, I am always struck by the fact that while major B2B companies haveproduct strategies, pricing strategies, messaging strategies, and go-to-market strategies,they often lack the discipline to establish viable naming strategies. Even companies thatestablish a strategic framework are sometimes hindered by their lack of creative vision orability to see outside of their self-styled box in order to create memorable, iconic names.Being a Diva of Process, I believe this is where naming excellence starts. I’m not talkingabout a “sit-in-a-room-and-come-up-with-ideas” process, or an “invite-all-the-employees-to-submit-name-ideas” process. I’m suggesting a process that is rooted in thefundamental mission/vision of the company and the benefits that a customer derives froma product or service. Such a process has a far greater likelihood to lead not only to betternames, but also to an efficient framework for naming moving forward.There are four coresteps in the science part of this process: 1. Establish a strategic framework as defined by both the company’s purpose and the company/product benefit(s). 1
2. Develop a clear understanding of the target audience’s sensibilities–the key to “connecting” with a name. 3. Undertake a competitive audit. What is the competition doing or not doing?. 4. If working within an existing portfolio, conduct brand equity research to understand what value, if any, existing names have.Once the due diligence and strategic framework have been established, you have a solidroad map for creative development.In future posts, I’ll explore each of these four points in greater depth.Read more: http://www.cmo.com/branding/name-game-importance-strategy-process#ixzz27bz5OZFG 2