Strategies for choosing a successful brand name
The name of a product is a crucial element in determining the success or failure of a business. This is why the creation of a brand name is one of the first things you must think of when starting a particular business. What name do you want people to identify your product with. While choosing a brand name, what you must have at the back of your mind is that the name of your product can mar or make your business.
This is why you must go for the perfect name for your product. And in doing this, you have to carefully consider the kind of business you are into and the goods and services you are providing before choosing a brand name. Brand names like Maggi, Microsoft, Omo, Apple that have become generic names were carefully chosen.
Below are some of the important things you have to consider while choosing a brand name your products:
It must be web-friendly
We are presently in an internet age. If you want to make impact with your product, you must embrace the internet. So, when you are using a brand name for your product, it has to be “web-friendly“.
The brand name should be “web-friendly” in the sense that the name can be put on the web with Internet users having few issues finding and accessing it to gain information about the business.
If you are going to utilize the net for your business, youneed an official website to serve as a one-stop station for anyone interested to find out more about it. This means getting a domain name that is distinctly associated with your business.
Therefore, you should choose a brand name that people could easily remember rather than something complex and meaningless.
It has to also be social media friendly. Social media is presently the in-thing in marketing. One thing you should thus check is that there are no pages created with the same name as your brand.
This will prevent the dilution of your branding and easily allow people to find the exclusive page of your business and gather more information about it.
Another thing you also bear in mind while picking a name for your product is simplicity. You must know that the easier it is for the brand name to be pronounced, the better it can be spread through word-of-mouth. Similarly, the fewer the number of words for the brand, the easier it is to be remembered.
Sometimes words are not spelt out the way it sounds, and people may have difficulties searching for the company on the net. For example, although “Xerox” has become an effective brand name that became synonymous with “photocopy“, it probably had some pronunciation issues when it first existed.
Beside simplicity aside, brand names need to be memorable as well in order to create a buzz and generate an interest in what is it that your business provides. Making your brand name too descriptive and straightforward may kill the curiosity that is needed to sustain the interest.
Before coming up with a few potential brand names, it would be a good idea to do some research on the ones that your competitors have come out with. Identify what are the similarities across the different brand names. Subsequently, when you generate some potential brand names for your company, resolve not to come up with something similar to them.
In other words, your brand name should stand out from the crowd, by which I’m referring to your closest competitors. After all, a large part of your business concerns will revolve around these few.
Have the Logo in Mind
Brand name and logo must go hand-in-hand. If you want to have a strong branding for your business, make sure that people can identify the logo with the brand name. The brand “Apple“, for instance, has a pretty straightforward logo in the shape of an apple.
This makes it simple for people to recall your business. Instead of relying on solely the linguistic memory for the brand name, they are now also able to store the visual memory of the brand by associating it with the logo.
Now that you know how significant the connection between the name and the logo is to your branding, it’s necessary to think of a name that affords you more freedom in the creative process of your logo.
Note that an “image” logo is stronger than a “word” logo, because a picture they say conveys message that a thousand words. So, it is advisable you go a brand name that can be symbolized as an object or something.
Convey the Essence of Business
The way your business should have a unique selling preposition to distinguish yourself from your competitors, your brand name should also manifest that which is distinct from the others.
It can also be used to reflect the strength of your business. For instance, the brand name Airtel shows clearly that it is a telecommunication company.