I grew up two blocks from the Eastman Kodak Company in Rochester, NY. As a child I was well aware of the Eastman name—Eastman School of Music, the George Eastman Museum of Photography—but who was Kodak? I learned the answer while taking a field trip to the company in grade school. Kodak was a name made up by Eastman in 1888. He took the first letter of his mother's maiden name—Kilborn—and put it at the beginning and end of a five-letter word. After trial and error, he filled in the blanks with the letters o, d, and a, and a brand was born.
Not long after Eastman trademarked the name Kodak, another Rochester photography business began operation as the Haloid Company. Ever heard of it? Probably not. But in 1961, that company changed its name to Xerox. Knowing the background of the Kodak name, I always assumed that Haloid executives chose the letter X and like Eastman tried to fill in the blanks, finally arriving at Xerox. In reality, the Xerox name came from a process of printing patented in 1938—xerography, which was a word developed from two Greek words meaning dry printing.
There was never any question as to how another Rochester business got its name. In 1853, John Jacob Bausch and Henry Lomb partnered to begin a lens company. Today, Bausch & Lomb is the recognized leader in developing new materials and new technologies to help people see better.
Although these three strong brands used different approaches to naming their organizations, they share the common characteristics of what today's marketers would consider an excellent name. So if you are about to start an organization or rename an existing one, consider the following criteria for good names.
Is it distinctive? If your name doesn't separate you from the competition, no one will remember it.
Is it short and sweet? It's much easier to remember five syllables or less than an epic novel. Plus, a short name prevents employees and customers from creating confusing acronyms for your name.
Does it tell a story? Branding is all about storytelling. Does your name tell any story about your organization?
Can you spell it? A company name should not be a spelling test. Make it easy for people to spell your name. This is especially helpful when they do a Google search.
Will people use it? Some names are hard to pronounce. Some names are not appropriate for certain target markets. Will your customers embrace the name and feel comfortable using it?
Is it legal? Your name is one of your most valuable assets. Make certain it can be trademarked. You may also want to make certain that name and possible variations are available as URLs.
George Eastman summed it up best when explaining how he came up with the name Kodak—"The word Kodak was devised after a considerable search for a word that would be short, unique, easy to spell and meet the requirements of trademark law. Most importantly, there is commercial value in having a peculiar name; it cannot be imitated or counterfeited."
What's in a name? Everything—your past, present and future. So take the time to make certain the name you choose will accelerate your brand-building process.