algoreg reveals new product names (and meet Mathis, our Head of Marketing)
What would awesome products be without a great brand new name?
For the last months, we wanted something great, something unique where we could identify ourselves into our vision and project. We brainstormed and came up with a new set of product names. We needed to reflect our products and our mindset to the public
Still, this process is not easy and requires a lot of time, imagination, unsuccessful attempts and a bit of craziness.
Meet Mathis Ries, he’s the Head of Marketing at algoreg.
Q: Hi Matt, could you please tell us a bit more about yourself?
Sure, I’m originally coming from Luxembourg but I spent most of my time studying abroad in Strasbourg, Paris, Budapest, New York City… and graduated from my MBA back in July 2017, with 2 degrees in Marketing and Communication that I got in 2015 from ISEG/ISG and the Baruch College.
I previously worked in European FinTechs, IoT (Internet of Things) companies, Communication Agencies, Chatbots… each time as Marketer or Business Developer. Finally, I got hired by algoreg in April and it started out really quickly with all the Marketing needs they had at the time.
Q: Could you tell us a bit about the importance of naming for a company?
Most people don’t even realize the workload it has behind each and every name. They don’t even notice what it means, why and how. For instance, you’ll never question the origin of the word “Coca-Cola” or “Instagram”.
Fact is, when naming a product or a company, you’ll face several challenges and you have to take into account each one of them before releasing it to the public or else you’ll pay the consequences way too fast. Way too many companies do not think everything through and have to change afterwards the naming, which costs obviously money and is time-consuming. Finally, and that’s the big challenge, the product name should speak for itself.
People should understand what you’re offering without you even telling them.
Q: And how about the process itself?
Well it starts simply by identifying the company and its values. Basically it’s putting together a bunch of words that everyone in the company can relate to. Then it’s time to research and test each universe of each word you found earlier. Once you found a catchy result, test it, Google it to make sure it’s available from a legal point of view and not meaning something totally different in another language for instance and finally ask for feedback from everyone you know. Each person thinks different and understands differently so having all the feedback you have, the more “unwanted” and “unexpected” results you’ll get and you can still correct the shot before somebody else notices it later.
Q: The new product names are: go!vid, go!pic, go!scan and go!score. Could you please explain briefly the choice of the “go!-”?
To be honest, “go!-” seems really like an easy choice but it matches so many naming criterias and benefits for our company. First of all, “Go” symbolizes movement, action and the ability of doing something. It’s modern and dynamic, short and can be remembered easily: that’s crucial. In addition to that, it’s punchy and understandable by everyone around the globe.
The exclamation mark points out even more action and dynamism. I like to think of it as a shout towards freedom and liberty.
Q: Now that the product naming is done, what’s next on your plate?
Well, having a great name for a product is only the start. Now it’s time to show our work to the public. In a nutshell, we need to market it correctly all over Luxembourg first and then Europe and even abroad. People may have heard of algoreg, but let’s make sure they now know our products and our end-to-end and qualitative solutions.
We just started making something great, there’s a lot of cool stuff coming up next. Let’s amaze everyone now.
Head of Marketing