Choosing a company name & developing a company logo
The Motley Fool are making some improvements to their web offering, you can read about them here. In the process, I've been lucky to have been working on the launch of lovemoney.com. (It's nice to be able to talk about it, for a while there it needed to be under wraps!)
The holding site is now up, as is the blog (which I am contributing too,) plus you can follow lovemoney.com on Twitter! (Note: the site parked at http://www.lovemoney.com/ is just a holding site at the moment, it will be enhanced in the next 6 weeks. )
In this post I just want to take the chance to talk about managing the process of deciding a new company name and logo. I've talked about it a bit on the lovemoney.com blog, but here are some tips for posterity:
Choosing a name, things to consider:
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Practicality is utmost. You can go for a plethora of crazy and original names. Ask your customers, they'll tell you straight. In our case, we are a finance site, our research revealed we needed 'money' somewhere in the title.
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Be memorable. Practical doesn't necessarily mean conventional. Think about a story to go with your name. In the case of lovemoney.com, it's about having a relationship with your money.
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Is it easy to spell? It definitely should be.
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Is it easy to say? It definitely should be.
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If you are a website, a primary consideration is, is the domain available. If it is, what's it going to cost you?
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Think about context, where does the company name have to appear? Is it appropriate in all the business scenarios you have?
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Consider your brand values, is the name aligned with them? It should be.
Developing a logo, things to consider:
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Don't be too clever. It's just a logo at the end of the day. Very few logo's stand-alone and are recognisable.
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Cover all avenues. Experiment with even the most whimsical of ideas.
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Buy a logo book. Read about logo design.
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Context, context, context. Will the logo detract from anything you are trying to achieve? If it does, it's not a good idea.
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Consider your audience. Without stating the obvious, a younger audience will possibly be more open and engaged by something which is more playful (though it all depends on your product and the service you are offering really.)
Golden Rule:
Be decisive, get it wrapped up early in the evolution of the product/business. Ultimately, it’s what you DO as a business that will decide your fate.
Carl Knibbs
Reader Comments (4)
I think nowadays, One should check if the domain name is availible at the same time when he looks for a name to his company, especially if getting a website for the company is obligatory.
I agree Yopee, the trick is finding domains that are available and affordable.
wow, that's a lot of useful info, I've added it to my list so far from various sites like http://gxi.co.za/growing-your-business/197-4-rules-to-choosing-a-great-business-name.html I didn't even consider the logo part :( Isn't their a company you can pay to sort it all out for you in one big woosh?
Glad it was useful. You have various options if you have the cash. But, for small and medium sized businesses, I believe it's possible and cost effective to do things yourself. Good luck! Carl.