Apart from the provision of quality products and services for your customers, your company will need a unique representation through branding. Branding is the creation of a company’s positive impression to customers through strong logo design, mission statement, and brand name. A company with a well-developed brand name can easily attract customers, even in a highly competitive niche.
Having the right brand name is quite crucial for your business’ success. Companies like Google and Facebook have unique brand names that are trusted by their customers. If you are in the process of deciding your company’s brand name, then you need a guide on how to pick one appropriately. Below are the steps to developing the perfect brand name:
Create a Brand Development Strategy
There are different brand development strategies you could exploit. Before deciding on a brand name, you need to define your business’ purpose. This is the mission and vision statement of your business. Knowing your purpose will enable you to know how you can connect clients to your products or services. The brand strategy should include values, mission, identity, tagline and promises. Coming up with this may be difficult. Hence, it is recommended that you hire a professional brand development firm.
Know Your Competitors and Target Market
It would be best if you researched your competitors before coming up with a brand name. This research helps you identify the gaps and opportunities that need to be filled through your brand name. Also, knowing your customers will guide the brand name you will pick for your product or services. For example, women will be drawn to a feminine brand name, and it is the same for the men. Note that the name should appeal to its target market and not everyone.
Decide on the Type of Name You Want
Brand names can be picked from different categories that describe who, where, or what the business is about. They include eponymous, which could be the founders’ name or just descriptive. You may also go for what you are selling and use an acronym or an abstract name. Once you are sure of the category you want, create a shortlist of possible names to use.
Find the Message You Want the Brand Name to Communicate
The name you select should represent your company’s products and services. The brand name should also be short, easy to pronounce and indicate the benefits of your products. You can use traits that describe your products and pick a name that indicates your passion. It is advisable that you pick a name that will not be outdated. Avoid using a negative or offensive name since it will put off customers.
Choose a Unique Name
Companies trademark their brand names to protect their products. Picking a unique name will make your company stand out from your competitors. You can check if the name you selected is legally available for use through a trademark search. Alternatively, you can hire a marketing or advertising firm to conduct this name research. If the name is not available then you can devise your own brand name. Do not forget to trademark your company’s brand name.
These were some of the ideas to select the brand name. Along with this, you can also make sure that the domain name is available. Also, you should follow some standard naming and branding while selecting domain name.
Your brand name should be unique and it should represent the business you’re doing. It should also not contradict any other existing names or businesses. This will help you run the business smoothly.