Everybody has an idea about how to name a new company or even a new product. But when we are talking about naming a new service, things are getting a little bit complicated.
The biggest challenges in naming a new service are the following:
- “Why do I need to name a new service? It’s enough just to describe the service.” This is a resistance factor.
- Differentiating the service naming process and the product naming process.
- Finding the strategic tactics for defining a suitable service name
Why do you need to name a new service?
Let’s say that you are planning to install a security system in your house. You are interested in finding a good supplier and you have chosen two of them. You call both companies and you request for a visit and a personalized security solution. You receive the following two answers:
“Yes, sure. A guy from our company will pass by your house tomorrow evening and will start checking, planning and figure out which will be the best security solution for you. Then you will receive our quotation after he will do a complete report.”
“Tomorrow evening a team will come to you and it will make the Home Security Audit. After that you will receive a Security Audit Report and a personalized Home Protect Quotation.”
Which of the two companies sounds more professional?
In most of the cases, service naming helps you to empower the preciousness of your services. If you are playing in the premium sector, if your services aren’t cheap at all, then you must simply take into consideration to name them.
3 main criteria for naming a new service:
- The name positions your service as a premium, original and different than what your competitors are offering
- The name inspires a potential customer to take action
- The name makes the target audience feel privileged, special and part of a special community if it chooses to buy your service.