Getting it right when naming and branding your business propels the business to success. Nevertheless, it is a challenge and most people bypass by naming their businesses after their parents, children or their selves. Though it is the product quality that matter, the truth is about 77 percent of consumers purchase high-quality products based on the name of a brand, thus a great name makes a difference.
Business names are really powerful and every word in a name is incredibly important. That’s why when you get it right, branding comes as an offshoot. Here are 5 essential tips on naming and branding your business:
1. Come up with a naming brief
Naming brief is one important document used to determine the desired business identity as well as positioning, which as a result outlines your planned objective. Corporate identity firms and branding agencies use certain parameters to create names for businesses. A naming brief answers essential questions like:
- What emotion do you wish to bring to mind?
- What brand image, personality and associations do you want?
- Are you looking for mass-market name or a refined niche-market name?
- What is your target segment?
2. Always keep it short and simple
An extremely long business name makes no sense and loses meaning before you can read the whole of it. That’s why your business name must be short and clear, a name that can be remembered and pronounced easily. Acronyms and short forms are wrong to use as customers cannot know the meaning if not explained.
3. Choose a name that sound good when said aloud
You never know alliteration might sound good to your customers. This is about using words starting with same consonant, for instance, Jimmy John’s or Coca-Cola. Try to say it aloud repeatedly and it should be something everyone can easily say. Avoid tongue twisters as your customers will need to say this name in their conversations.
4. Try it out on Google AdWords
One great feature the AdWords “find keywords” tool has is that it lists comparable or similar search phrases, as well as statistics showing how many searches each get global and local every monthly. Other AdWords searches ‘your business name’ can ensure there is a considerably different name that might get even more attention over the Internet. Searching your desired business name on AdWords also ensures you are not using the same name as your competitors.
5. Ask your employees
Involve your employees in the process of naming the business. This is becoming increasingly common especially for existing businesses that want to change name and rebrand.
Accenture is a consultancy firm (a portmanteau of “accent” and “future”), was previously called Andersen Consulting. It was renamed when an employee gave a suggestion in an internal naming competition. Therefore, make your employees proud of your business, by involving them in the naming as well as logo designing. This is important as the employees are able to explain better what the business name means and also why it is named so.