Just so you know, that your company’s name plays a monumental role in the way you want to shape the brand further. Simply putting, it can make or break your business and hence it can’t be cherry-picked from hundreds of different names you come across. Your brand name is your story. It signifies what you stand for in the market.
Branding is important because not only is it what makes a memorable impression on consumers but it allows your customers and clients to know what to expect from your company. It depicts your products or services. It conveys your business ethics, values, and goals. It is a way of distinguishing yourself from the competitors and clarifying what it is you offer that makes you the better choice.
Hence, one of the most essential parts of good branding is choosing the right name for your business. A memorable, catchy or intriguing name captures the attention of customers, and makes them want to learn more about you. It makes your company stand out. So that’s why you need a good brand name. Now, how to come up with a brand name?
What Factors to Consider when choosing a Brand Name?
1. Identify your Brand Identity, then pick a Name
Even with a properly executed brand development strategy, your brand won’t become a household sensation overnight. You’ll want to draft a brand name that provides a hint to your target audience about what your business actually does. Choosing a brand name for your startup is a crucial decision. This property will not only give a clear definition but also could make your business easier to find. It will set the tone for the way people perceive your company.
Here, you can find how to register your Trademark in India.
2. The Message that it Conveys
When you understand who your audience is and what is at the heart of your brand, you can begin to develop a meaningful narrative which can resonate through all communications materials. The name of the company is inextricably connected with the identity of the company. Remember, the name will appear everywhere from business cards, websites, letterheads to promotional materials. Hence, it should effectively tie your brand to the quality of your services.
3. Create Something Short and Unique
Forget descriptive names. Short, unique names are easier to remember, better for social media and SEO winners. Twitter limits character count and most descriptive names will already be taken as handles, but a new and unusual name will be available. Descriptive names also bury you in Google searches, where they’ll already be your competitors’ keywords. So get weird — or at least a little funky. – Diana Wolff, LRG Marketing
4. Foster Positive Brand Connection
Choose your words carefully during this phase of your brand development strategy. Different words can have different connotations to different people. You’ll want to make certain that your brand name is composed of strong, positive or descriptive words that won’t trigger any types of negative emotion. Your business doesn’t want that type of association. Be sure to check the meaning of the name in the languages and regions you intend to do business in.
5. Be aware of the Value an appropriate Trademark creates
As the business develops and expands, so its name will increase in value, and evoke a reaction in its target consumer which then enables the brand to charge a premium for its product or service. For example, people are willing to pay significantly more for an item of clothing made by Louis Vuitton than they would pay for a similar-looking item made by an unknown designer. The value of one item of clothing over the other is purely down to the name and so the brand is what adds that extra value.
Remember, above all, that branding is crucial work that requires commitment. Brand names are an important way in which the law protects a business against various unfair practices that tend to arise when a business succeeds. Your brand name will only be one part of the long-term development of your brand.
So, make sure the name in which you have invested so much time and effort and around which you have built your good reputation, is one that can remain exclusively yours. We would suggest you to seriously consider the above factors if you are still wondering how to choose a brand name.