Banks name their products. Funding sources name their products. Brokers may have the best reason to name their products - because it is too easy for vendors and lessees to commoditize lease financing products. But, most brokerages do not distinguish between their company brand and their products' names or brands. Vendors and lessees are quick to boil down lease providers to their credit window, financing types and rates. Brokers need every angle possible to separate themselves from the hundreds of options available to potential and existing vendor partners and lessees.

Choosing the name you use in the market is often cited by marketing experts as the most important business decision you will make. That's a heavy statement. While there are easy methods to naming your products, they usually do not result in the best names. To choose a name for a product, there are a few guidelines to follow:

• Convey the product's benefit to the customer, not what the product is or does. You probably want to avoid words like "lease" and "credit" and instead consider options that convey speed, ease, low payments, wide approval range, professionalism, service, etc.
• Make it unique and memorable, not similar to existing products and not generic. Don't be afraid to focus on one primary benefit or one niche market with each of your products. Equipment leasing is a multi-billion dollar industry, any one product needs to capture a fraction of a percentage of the market to be a hit.
• Keep it short, or at least make sure it has good initials
• Bonus points: it is easy to spell, easy to pronounce and the URL is available with a dot-com extension.
• Examples: "QuikEquip" or "EasyPay Program". (At the time of publication, both URLs were available with a dot-com extension.)

Your product name should be the two or three words that stick in the memories of end-users who visit your site or vendors who you cold-call. A good place to start when considering product brands/names is with your overall marketing and sales strategy. What do you offer better than anyone else? Why do your current vendors and lessees choose you? Why do they come back again and again?

Once you have chosen a name, bounce it off lots of people. Google it. Google variations of it. And then buy all related URLs. Consider registering or trademarking your product name. Once you make your product famous, you don't want other financiers siphoning your success!