What’s in a name? | Breakthrough Funding

Thursday, August 17, 2017

What’s in a name?

A stylish moniker can make your product stand out from the crowd – but not forever

 

Every new product or service needs to sell itself as being special; as having a USP that makes it truly original and game-changing. After all, if it’s not fresh and exciting, why should anyone pay attention? 

But sometimes the best new products aren’t really that new in themselves – they’re just a much better version of a previous idea. Apple didn’t invent the mobile phone or the wireless internet device; but they did change the industry forever by putting the two together in an intuitive and attractive way with the iPhone.

Sadly, most SMEs don’t have the might of a global corporation behind them when they launch a new product. This means having to perhaps be more creative in order to get your idea in front of the right consumers. It’s also where the old ‘style over substance’ debate really comes into play.

Choosing the right name for your creation is a huge decision that can elevate a mediocre product to starry heights, or sink a brilliant product before it’s seen the light of day. Not only does the name need to adequately describe what the product offers in just a few syllables, it also needs to sum up an ethos, a lifestyle, a culture – whatever you think will most appeal to your target market.

No mean feat, huh? In the early 2000s, sticking ‘I’ in front of anything was a pretty sure-fire way to ride into techie glory on Apple’s coattails. This can lead to trouble for people who are cavalier with trademark law, of course. But there are brilliant David and Goliath stories even in the world of copyright. 

A few years ago, the creator of trumpet simulator iTrump fought the now-President of the US over the app’s name – and won. Smelling blood, the developer went back for more. Last week, the Trump Organisation lost the exclusive right to use the name for entertainment projects.

Once you can’t rely on a catchy or famous name to secure sales – either because it’s taken away or falls out of fashion – any flaws in the actual product can become dangerously exposed. Quality stands the test of time and true innovation, which adds value to people’s lives or businesses, will survive a rebrand if it needs to.

How did you manage to convey your product’s awesomeness through its name? If you’re innovating and have a story to tell, give our team a call on 0800 772 0800 – we’d love to hear about it.

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