Product Naming for B2B markets
In B2B markets too, a product’s name guides perception and memory. This guide explains why product naming matters, what makes a name effective and how the final choice is reached, methodically.
~5 min read
BRAND AND NAMING
After spending weeks, months or even years perfecting the ideal product, in business-to-business markets time is not always spent finding a convincing name.
This often stems from the idea that, when addressing other businesses, and therefore experienced buyers and leads, it is not necessary to find a name able to attract attention and be remembered.
However, this logic overlooks the fact that, behind even the largest multinational, the final decision makers are still people.
The importance of product naming in B2B sectors
Just as we analyzed for brand naming, for products too the name is one of the most important elements. In fact, it makes it possible to:
- Simplify the sale of products;
- Promote the product;
- Increase awareness of the brand.
Getting the right name is essential. For example, it is one of the elements that makes possible and contributes to achieving the established business objectives, which are not reached by 50% of new product launches, according to a study by McKinsey. Product naming can make or break a product launch, even in B2B.
It does not matter how innovative a product is: a confusing or inappropriate name can be discouraging, at best.
Or, it can make selling difficult in other countries or cultures, because it is easy to misinterpret or hard to pronounce in another language.
In fact, according to a study published in the Journal of Consumer Psychology, naming a product increases the likelihood of purchase.
These are only examples, but they are useful to convey the importance of product naming in B2B.
Some tips on how to choose the right name for a product in B2B
To set up a good product naming strategy, even in B2B, it is important to know what the right name can do. For example, it can:
- Make the product memorable;
- Provide information about its features and benefits;
- Generate a positive feeling toward the brand;
- Help the brand distinguish its products from those of the competition;
- Create a platform that can be used to further develop and expand the range of products offered.
Precisely because this is a crucial decision, choosing a name on instinct is not advisable. The search for the right name (product naming) is not a matter of luck or taste, but of strategy.
Brainstorming, a very useful tool in product naming
There are various ways to brainstorm, all useful for creating a list of possible names for a product.
The important thing is to identify as many name ideas as possible, without getting distracted from the main goal (the product naming activity!) and without criticism or debate, at least at this stage.
To find inspiration and generate as many proposals as possible, it helps to focus on the various features of the product or service, on the problems it aims to solve, on the names already used within the range, on the names used by competitors, on the results it makes possible to achieve… the options really are many!
Of course, brainstorming is a valid strategy, but not the only one: some professionals prefer to use mind maps or concept maps, and more. Each of these techniques can be carried out by a single individual or by a team.
Selecting the perfect shortlist of names
After analyzing the various features of the product, the brand, the competition and so on, generating many eligible names, the time comes to select.
At this stage, inappropriate names must be discarded, using the criteria identified below:
The characteristics of a good product name
There are many elements to consider during product naming. Every time a possible name is analyzed, for example one of those that emerged in the brainstorming phase, it is worth checking whether it is:
After identifying the most appropriate names, it is possible to move on to a second selection in the process of product naming in B2B.
The analysis of sentiment, preferences and purchase likelihood.
Ideally, at this point what is needed is a study of the proposals. This should involve several people, to gather insights such as the images the identified names evoke, their appeal and the feelings that can be associated with them, and more. The goal here is to gather information about preferences, a ranking of the most appreciated names and, why not, other proposals not yet identified.
Moreover, this stage should also include the analysis of the likelihood that a client will buy or consider the product based on the chosen name.
The final phase of the product naming process.
Once the names have been selected among the many identified in brainstorming and insights have been generated in the study of the proposals, it is time to complete the product naming activity in B2B with the analysis of the responses obtained in the previous phase.
This analysis can be done through software or even manually, depending on the number of questions and answers, and it should aim to:
- Eliminate uncertainties and speculation about the product’s naming;
- Be able to identify the perfect name for launching the product on the market.
Even if product naming is not always considered essential in B2B markets, the right product name can truly make the difference. It is a complex process, which begins with identifying many alternatives and continues with the increasingly specific selection of only the plausible names, until reaching the best product name.
In this process, factors such as intellectual property, linguistics and semiotics are analyzed, as well as the ability of certain names to generate positive feelings and to increase the likelihood of purchase. Because product naming makes it possible to find a name that is simple, catchy, exportable, original and target-oriented, and therefore increases the chance of reaching the established business objectives. We have also written an article on Brand Naming >
Frequently asked questions
What is product naming in B2B?
It is the strategic activity of searching for the name of a product intended for business-to-business markets. It starts from the data and features of the product to arrive at a name that is simple, memorable and recognizable, because business decision makers are people too.
Why does a product’s name matter in B2B too?
Because the right name makes the product memorable, communicates its features and benefits, generates a positive feeling toward the brand and helps it stand out from the competition. A confusing name, or one that is hard to pronounce in other languages, can instead hold back a launch, even of an innovative product.
What characteristics does a good product name have?
An effective name is simple, easy to understand, able to generate positive associations, original also from a legal standpoint and target-oriented. Simplicity should be checked in your own language and in the languages of the markets where there is a presence or which one aims to enter.
How does the product naming process work?
It starts from brainstorming to gather as many ideas as possible, then the shortlist of names is selected with defined criteria, preferences and feelings associated with the proposals are studied and the collected responses are analyzed, until the name best suited to the market launch is identified.
Let’s work on your product naming.
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