Branding is an important part of any corporate strategy. The first thing you need to do is determine what your brand will represent, as this will give you a good idea about the type of name that would be appropriate for your company. This seems like a no-brainer, but it’s surprising how many great companies have lackluster names that don’t even attempt to reflect what they provide their clients.
A good brand name is one of the most important assets a company can have. It is the first thing customers see, and it can make or break a business. A strong brand name can help a company to attract new customers, boost sales, and create loyalty among consumers. There are many factors to consider when choosing a brand name. The following are eight of the most important segments you should consider and incorporate into your idea.
Make it memorable
One of the most important things a brand name can do is make a lasting impression on consumers. A memorable company name should be easy to say, spell and remember. It should also reflect the quality of your products or services, while at the same time giving potential customers an accurate idea about what you do. While starting a preliminary brand naming research, it is a good idea to consult with professionals. They can do the research needed, saving you time and providing you with valuable data you can use in your business and marketing strategy down the road.
Make it unique
A good brand name will stand out from the competition and give your business an advantage over others within your industry. The ideal choice will have no obvious connection with other well-known brands that operate in similar markets. If possible, try to find a way to work uniquely into your company’s mission statement or slogan, as this will help to reinforce its distinctiveness when consumers see it printed alongside other marketing collateral such as advertisements and brochures.
It is important to choose a brand name that has some connection with your business and its industry. This will help you increase consumer awareness, especially if your company is just starting. Customers will recognize the name instantly when they see it again in your marketing materials or on your website. It also helps them understand what you do, which can be especially helpful for new companies with limited resources for advertising and promotion.
Don’t use numbers or hyphens
Your brand name should stand-alone; no need to tack on words like “Inc.” at the end of it or include long strings of numbers that serve no purpose other than to make your name difficult to read and remember. A good business name says everything you need it to say. There’s no reason why you should have to use extra words or symbols that don’t help your customers relate to what you do and only add confusion and difficulty in understanding the purpose of your company.
Make it flexible
A great brand name offers flexibility, which means you can alter it slightly without losing any of its appeal. A dynamic name will allow you to expand into new markets while keeping the same name, but adding on additional descriptive details if necessary. For example, the popular beverage brand Snapple used this strategy by adding more information about their product with names like Snapple Lemon Tea, instead of changing the entire brand every time they wanted to sell a new flavor or variety of their drink.
Be consistent with style and spelling
Your brand name should be consistent across all of your marketing materials. For example, you might come up with a great name, but it will lose its effectiveness if the spelling changes on every business card or promotional piece. This can happen when someone else deals with the designs instead of working directly with you to maintain consistency. You also need to ensure that any logo or font associated with your business has the same general appearance as well.
Avoid using legal words
Keep away from common words like “de” (of), “and”, “the”, etc., unless they are meant to be used in some alternative manner. Think twice before including words like “Corporation” or “Inc.” Don’t use anything too fancy, either, as this can cause your company name to lose its natural flow and read awkwardly.
Don’t use generic words
Generic words like “idea” or “concept” may give you a short-term advantage, but they will not serve you well in the long run. Think ahead about how businesses operating in other industries might want to take advantage of those names as well. The last thing you need is another company gaining the rights to your brand name because they were the first to file for legal protection. Only choose generic words that are appropriate for your industry and which truly reflect what you do.
Your brand name should be instantly recognizable and easy to remember; something your customers will love saying out loud (or having their friends say as they point to your logo). It should be simple enough for your customers to understand and relate to, but unique enough so it stands out from the crowd.
Slang and personal pronouns
This seems obvious, but people tend to get overly creative when coming up with brand names. Keep things short and sweet by avoiding slang terms that are too casual or using personal pronouns like “I” or “we” in company names. There are exceptions, but you need to carefully consider whether or not these words will cause problems for you in the future before adding them to your business name.
Coming up with the perfect brand name can be a daunting task, but if you follow these eight tips, you’ll be well on your way to finding something that’s both memorable and representative of your company. Keep in mind that a good business name should be flexible, so you can expand into new markets down the road. It should also be consistent across all of your marketing materials and easy to remember. Avoid using slang or personal pronouns in your brand name to make sure it’s appropriate for your industry. If you’re still struggling to come up with a good name, consider hiring a professional branding agency to help you out.