So, you’ve decided that you’re going to start a business. Everything is going great, you have a plan in mind, and you know what you’re going to do. But, even if everything is planned out, the most important question still remains. What will you call your new business? That’s the thing people are going to remember about your products or services.
It would be best if you had a strong brand name. That’s what’s going to separate you from your competition, and it’s going to make you stand out. But, there are a few things that you need to think about before you decide how you want it called. There are specific characteristics that you need to have in mind. In the end, some companies become synonymous with the products they’ve designed. Click here to read more.
A good example is Sharpie. Permanent markers were invented a decade before this product hit the market. But now, no one even says give me a marker, it’s become ingrained in our culture to say Sharpie. Another great example is Kleenex. There is a myriad of different wet wipe brands. But, we all remember just one. That’s what you should be striving for as well.
It must be distinctive
This should be priority number one for you. The name needs to speak for itself, and it needs to be distinctive. Of course, you’re going to have competition in your niche, but rather than differentiating your product, you can put more emphasis on your brand name. A great example is Reebok and Under Armour. Both of these companies have the same target consumers. Now, instead of putting all your money trying to look different, they focus on the personalization of the brand and making it distinctive to keep the attention of their buyers.
Another thing you should look out for is whether some other company already has it. For that, you can do a simple Google search and see if any company exists near you that has the same name. If you plan to open a bike store, you shouldn’t name it after a restaurant because that would cause a lot of confusion and harm your reputation as well. Everyone will think that you are just a copycat with no originality. You can read more on this website.
It must be authentic
For the past two years, authenticity has been as important as the product or the service. Now, your buyers are interested in doing business with you if you share the same values. You need to have a mission and represent it well. That name should fit your company and envision the essence of what you are and what you stand for. The most important questions in this area are where you come from, why you are doing what you’re doing, what makes you different, and what your values are.
It must be memorable
The best brands have short names. It makes sense when you think about it. If it’s short and sweet, it’s going to be easy to remember. Make sure that any name you think of can be easily spelled and searched online. You can even use two names to make that happen.
For example, Coca Cola, Best Buy, Dunkin Donuts, and other similar ones. This forces your audience to remember you by what you do. And no matter where they are in the buyers’ journey, you will still have the advantage because your company is already occupying space in their heads. When they need a service or a product, your name will resonate with all of the rest. Here’s some more info: http://www.marketingmo.com/creative-brand-development/how-to-choose-a-great-brand-name/
It needs to be enduring
For this, you need to think in the long run as well. Is the name going to be able to resonate with new strategies and new products? After a while, you will most likely want to expand your business. This means new ideas and new offers. Well, is the name going to be able to support all of these advancements?
What helps most is to choose something that will endure the test of time. There are a lot of notable examples, but we can take Apple as a perfectly good one. This tech giant has been around for decades, and their name still serves them today. Make sure that you come up with something uniquely your own.