Coming up with a brand name is quite a deal; it involves more than just coming up with a clever name. In this article, I will take you through everything from Brand Identity Development, Brand Positioning, Brand Goals, Target Markets, and we will try to understand how Demographic Interests affect the naming process.
Crafting a name for your brand requires a lot of research; your brand name shouldn’t just relate to your product or service, it should convey at a glance, deeper contextual associations that embodies the quintessential nature of the very business that it projects.
A brand name must accentuate the overarching message of the business, and it needs to be easily recognized, easy to remember and trigger the right positive emotional response in the mind of your target market
Contents
What is in A Brand Name
According to Brandfolder – Your brand name is a critical starting point in building a brand image for your product. There are 5 key elements in selecting a good brand name:
- Is it meaningful
- Is it memorable and does it stand out from the competition
- Is it ownable
- Can it grow alongside your business
- Does it resonate in a favorable manner with you and your audience.
Brands pay heavily to create a memorable brand identity. As a startup owner, it doesn’t matter if you’re building a tech brand or creating a profitable tailoring brand from a corner in your room. The first step to avoid pitfalls in branding is in picking a good name.
A name defines a purpose; it’s the first point of contact people make with your business. It’s key to selling effectively in a crowded market.
A good name brings clarity of vision even to employees, and it keeps everyone motivated.
Are you aware that there are 43,248 registered companies around the globe? You want your brand to be recognized globally and stand out from 43,248 names.
You want a name that tells people what your business represents. The best brand name resonates with the public.
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How To Pick The Right Brand Name
“I’ll know it when I hear it” is quite a common expression with founders. However, picking a name is now more tedious than ever. It’s not a day’s job! It requires brainstorming. Don’t forget to enlist team members and friends. Sometimes they help you think outside the box.
As a result of globalization and recent advancements in communication, a brand can go anywhere in minutes. When a name is translated into other languages on the internet, it can become a joke. You do not want that for your brand.
The Rules of Great Brand Identity.
Keep it short, easy to remember and easy to brand in logos and other merchandise. The best brands are often adopted into vocabulary and take on an immense meaning for a particular kind of experience which the brand represents.
When I think of Disney, I feel happy. Disney does not transcribe to mean happy, but that’s what the brand evokes with its content. The dictionary has adopted it as a word that denotes a non-custodial parent who, when spending time with their child or children, indulges them with gifts, special outings, and other treats, leaving disciplinary responsibilities to the custodial parent.
Your audience will take on the brand identity when they associate with your brand.
I find that the highest number of syllables to go by for a brand is four. Anything more is turning into a song.
Take Uber, Apple, Amazon, Tyler Perry, Disney, Tommy Hilfiger, the list goes on.
Your brand name must not be in English, provided it’s easy to pronounce. The fewer syllables, the better.
Now it’s probably okay if your brand is your identity and it goes above the four-syllable rule. Authors, actors, musicians and other celebrities fall in this category.
You can ignore these things if you’re satisfied with your local market. I wrote this article for people who dream of touching a global space.
Founders Name
Naming a brand after the CEO seems like an easy option, and it has its sentimental value. However, there’s a downside to attaching your name to your brand.
First, if you have a common name, finding a handle on social media might be difficult. You don’t want your brand name on Instagram to be @Mabel123456. Oh, I shudder at the thought of it.
Think about when your business takes on partners or when you possibly sell the company. What if the new owners don’t uphold your values, and it falls into some grey areas? Your identity, in a way, would always be tied to that business.
Descriptive Names
These names take on descriptive qualities. They describe the actions of the brand.
For example:
Face + Book = Facebook
What’s Up + App = WhatsApp
The best descriptive name summarizes the vision of the brand in one word. They could be common words in the dictionary.
Example: Canvas, a material for painting. By dropping the last letter, you get Canva.
Uber; an outstanding example of a particular person or thing. Today the taxi brand Uber has become an exceptional example for online taxi services.
Or Airbnb, the founders had three air mattresses and were offering a bed to sleep and breakfast.
Word Formation
In grammar, there are rules to word-formation. You can play around with these rules to create a formidable brand identity.
- Translations from other languages
- Abbreviation
- Acronyms
- Suffix and Prefix
- Mixing
- Fabrication
- Metaphor
Tools for Searching Brand Name Availability
Almost all business ideas need an online presence to thrive in this era, apart from increasing global identity. An original name becomes a digital footprint.
How do you proceed with building an online business? One option is to type your brand name in your browser and see what pops up. The second option is using any of these online tools to search the availability of a web address and social media handles.
Lastly, don’t forget to check with the local business registry for trademarks and business names. Check and register business names on CAC for all Nigerian based businesses.
Building a successful business brand is much work, and I applaud you for taking a step in this direction. There’s a lot you can learn here at ExpertNG; from fundamental differences between sales, marketing and business development to the necessary steps to take to avoid pitfalls for your startup.
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