What is your framework for naming a product?
Naming and pricing are always the two most controversial decisions! Everyone comes to naming with their own strong preferences, and it can sometimes be an emotionally charged discussion.
There are a few different axes you can consider for naming strategy:
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Fanciful versus descriptive? Most features don't even need names (I know, boo). You can describe the functionality it provides without giving it a formal name. If you are going with a name, especially a fanciful one, you'll need to devote significant resources to building awareness and understanding of what that feature does.
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How close does this name need to be associated with your company? For instance, "Vanta [X]" links a new product back to our master brand much more closely than "[X] by Vanta" or just "[X]".
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What do others call it? This is a double edged sword - of course, you want to explain why your product is different than other competitive solutions in the market. But if there is an industry standard term, you should strongly consider using it, both for recognition and for SEO/performance.
How future proofed is this name? I have seen this mistake a lot with more fanciful AI-suites that are rolling out. If you assume that AI is becoming the norm, and the default expectation, why does your solution need some outrageous name?
Ultimately, though, naming is an art not a science. Good luck!
Here's a simple 6-step process you can follow:
Write the brief: Write the brief for what you want your name to accomplish. This should include a description of what the product is, all your positioning work (audience, problem to be solved, key differentiators, proof points etc.), and the goal your product is trying to achieve. This should be widely socialized with everyone involved in the naming process.
Define naming categories: The next step is to structure your creativity. There are many different types of names, and you want to come up with options in a range of different categories. These may vary based on the business and your brand guidelines, but some categories include abstract (e.g. Asana), functional (e.g. Marketing Cloud), descriptive (e.g. Photoshop Express), evocative (e.g. OneNote), branded (e.g. GSuite). Having a range of categories will allow you to generate many different outputs and provide guardrails.
Have a 'namestorm': This is the fun part! Work with a group to come up with a long list of names in every category until your creativity runs dry.
Vet the names: Go through the names and see where common themes are arising. Come up with a shortlist.
Go through necessary checks: Go through various checks: trademark, legal, cultural sensitivity etc. Think about SEO and domain names if necessary. Present the final contenders to key internal stakeholders.
Finalize & flesh out: Decide on your final name and the full package that goes with it, e.g. logo, tagline, brand guidelines.