Should You Outsource?
It can be challenging to find a good name that’s available. Do you have the resources to do it in-‐house, or should you use a professional naming or branding firm? With a good process and strategy, you can probably develop a good name on your own; however, you may not have the resources or desire to handle such a project internally. While it’s no guarantee that a firm or consultant will develop a better name, they may do it more quickly and objectively than you could have otherwise. If you’re not sure whether to try it yourself or to outsource, here are factors to consider:
Y N
CONSIDERATION Are the stakes very high for the name? Ex: Your company is investing heavily in a new product with a large market and established competition. Can you afford to outsource? A very small agency or consultant may charge less than $10,000, but midsize to large agencies on substantial projects can charge in the mid-‐five figures and up. Are you concerned that you don’t have the resources to brainstorm, evaluate & research potential names? Are you concerned that your team may not have the creative fire to come up with possible names that meet your criteria? Do you need to generate a name very quickly (in less than a month?) Are you concerned about objectivity or your ability to agree on a final name?
Tally the number of checks in each column: MORE YES = CONSIDER OUTSOURCING. NEXT STEPS:
Complete Exercise 182 to outline your naming strategy. This will help you define your internal criteria for the name before you hire anyone to develop it. Develop your outsourcing criteria and evaluate prospective vendors. [Vendor Selection can help]
Naming Should You Outsource?
page 1 of 2
MORE NO = HANDLE IN-‐HOUSE. NEXT STEPS: COMPLETE THE REST OF THIS SECTION. Define specific criteria for the name to accomplish. Use a thorough brainstorming process to come up with candidates. Measure how well each name meets those criteria. If you’re evenly split between Yes and No, the budget issue may force you to go one direction over the other. You can also consider trying to develop the name in-‐house first, then hire someone if you feel that you need it.
Naming Should You Outsource?
page 2 of 2