First, God told Abram who He is. By this name El Shaddai, He revealed His Person and character to Abram. I am God all-sufficient; “Almighty,” the “One who has His hand on everything.”
God literally breathed His Spirit (grace) into Abraham and Sarah. Likewise, God gives us many names – saint, righteous, chosen, royal priesthood, sons of God, and so forth), and He knows He will accomplish the meaning of the name in us.