While your consulting firm’s name is, ideally, memorable, it’s even more important to ensure your consulting firm’s offerings are mentally sticky.
Imagine if your consulting firm owned an offering as widely known as Net Promoter Score (Bain & Company, Fred Reichheld) or the Magic Quadrant (Gartner).
Sure, your consulting firm’s named offering and my company’s Firm Growth Lab may not have quite as much renown as McKinsey’s Organizational Health Index (yet), however, our branded offerings reap multitude of benefits, including:
- Credibility – A name implies your consulting firm’s offering is concrete, fully-developed and robust. The Chocolate Assessment Program is, implicitly, well thought through. In contrast, a generic, unlabeled series of steps in a proposal looks more like an approach you just developed; i.e., untested and unproven.
- Shorthand – It’s useful for your team and for your clients to agree on a common term to describe a well-defined a set of activities and/or outputs. When you ask your team to “work on the wafer CAP,” they know you’re referring to the Chocolate Assessment Program. Quick and confusion-free.
- Memorability – A crisp name makes your offering easy to remember and, just as important, easy for clients and prospects to mention to each other. When you receive an inquiry stating, “I heard about your Chocolate Assessment Program and would like that implemented at my company,” then you know your offering and offering name are working for you.
- Equity – Your named offerings could become valuable, sellable assets. With years of practice, benchmarks and public recognition attached to your Chocolate Assessment Program, a larger consulting firm may pay a premium to acquire your offering.
Names apply to all manner of consulting firm offerings, including frameworks, services, reports, deliverables, approaches and more. A few helpful rules for naming products are outlined in this post.
Other well known consulting offerings include Gallup’s CliftonStrengths Assessment, the Edelman Trust Barometer, and Tower Watson’s Global Workforce Study.
What’s the best consulting firm offering name of all time? Maybe we can answer that collectively.
Post in the comments some of your favorite, named offerings. (Feel free to include your firm’s named offerings on the list, but do not include links—those will be rejected by my team.)
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