Branding is more than just a logo. It’s the combination of visuals, messaging and reputation that differentiates you from the competition. Branding is vital in building a successful business. To thrive, consider how your brand will affect your customers’ perceptions of your company.
Brand naming is vital in building brand identity, and your business name must be unique to avoid confusion with others. A strong brand can give your business an edge against competitors. It sets you apart from other enterprises in your industry and can help you stand out from the crowd.
We'll try not to bore you with the details, but the information here may save your business, or at least save you a lot of money. So keep reading.
What is Brand Naming?
The name of your business is the first thing people will see, hear, and remember. So, choosing a name that accurately describes what your company does and conveys an image you want to project to customers is essential.
Your chosen name can help you stand out from the crowd, and it can help you develop a loyal customer base. Remember, a strong brand can help your business grow, but a weak one can lead to stagnation or even failure.
There are many considerations to be made when choosing a name. It can be challenging because it's a lot like choosing the perfect name for your child. You want it to be unique and memorable so everyone can remember it.
Here are a few tips to help you select the right brand name:
Identify your target audience
Who is your target customer? What do they care about? What problems do they have? What are their values? Knowing this will help you develop ideas for names that resonate with them.
Research your competitors
Find similar businesses in your industry or category and see how they've named themselves. This will give you an idea of what works well and what doesn't when choosing a name.
Make sure your selected brand name isn't already taken by another company or, even worse, a competitor. An easy way to check name availability is by checking domain name registrars like GoDaddy.
Archetypes are models of people, behaviors, and personalities that play a role in influencing human behavior. Knowing your or your business' archetype is incredibly useful in figuring out the perfect brand name.
Here are some examples:
- The Explorer: The Explorer archetype is energetic and creative. It's an excellent choice for start-ups or small businesses that want to stand out from the crowd. This archetype also works well for companies that want to position themselves as being on the cutting edge of technology or design.
- The Hero: The Hero archetype is strong and bold. It's a good choice for brands that want to appear reliable and trustworthy, such as banks or insurance companies, or for those looking for an authoritative voice in their industry, such as legal firms.
- The Sage: The Sage archetype is wise and authentic. This archetype works well with brands that want to appear trustworthy, such as financial institutions or medical services providers.
Make it short and easy to pronounce
Google. Apple. Amazon. Tesla. Most of the top companies in the world have names that are short and easy to say. When naming a new business or product, it's important to choose a name that is easy for others to remember and pronounce.
Make it unique and memorable
Your brand name should be easy to remember, so customers can easily refer to you when telling others about your product.
Using regular words like Tuesday or Work may seem like a good idea, but it would be more difficult for you to rank in search engines due to how commonly these words are used. And also, some people may have had negative experiences with those words(maybe he got dumped on a Tuesday) and you don't want to be quickly associated with those events. Best to start fresh.
123 Solutions anyone? Or XYZ Services? Yuck. When you speak in generic terms, your message can get lost in the shuffle of all the other companies who are using similar language to attract customers. A generic pitch will cause people to overlook you, no matter how good what you do is. Be original and stand out from the crowd by getting at the heart of who you are as a business.
It doesn't need to be descriptive
It is not necessary that your brand should describe what you do. Apple does not produce apples, Amazon does not have a staff full of Amazonians; nor are they based deep in the jungles of the Amazon. Don't be afraid to explore.
Try to pick a name that will be popular for many years. Many catchy phrases get overused and annoying within a few years. Keep your name selection simple and timeless. Avoid trendy names that quickly become annoying to others.
While businesses can influence trends, they don't have complete control over them. Trends frequently develop associations with certain groups or stereotypes—but those stereotypes aren't always relevant to your intended target audience.
Secure your domain name
When selecting a domain name, a good practice would be to not select a long one. Generally, the shorter the name is, the better. More on that here: LINK
Also, keep in mind that domain names have no space in-between words. If your chosen name is Speed of Art for example, speedofart.com would not be a good domain name choice, and might generate more laughter than intended. Here are some other ill-advised domain names that deserve a good chuckle:
Protect your intellectual property
After searching for the name availability, a good next step is to secure your company's intellectual property. Register and trademark your brand name. You may file a separate application for each country, or file an application under the Madrid Protocol: https://www.ipaustralia.gov.au/international-ip/international-cooperation/international-trade-mark-system
So, now what?
In the end, your brand will be all about you, your audience, and your vision of the future. In other words, there is no magic brand name formula that works for everyone. What matters most is that you remain true to yourself while giving a nod to what makes brands work to begin with. You have to balance all of these things if you want to develop a memorable brand name that will help people remember you and understand who you are. And in today's increasingly competitive business world, it's also important to choose a name that will distinguish you from your peers. Given all this, we tend to think that "you can't go wrong" with any of these strategies above—not exactly groundbreaking revelations perhaps, but they're all solid and nuanced suggestions worth putting into practice.
Go have fun!