For the right branding strategy, it is important to get your brand story right. And the best way to do that is to keep a brand name that highlights your brand identity. For example, how many times have you asked for a Kleenex when you really mean a tissue? Or have you noticed how people mostly refer to a tablet as an iPad?
Some companies brand their products so well that consumers start to associate products with brand names. As such, your brand name is the single most important part of your brand that can make customers identify, remember and discuss your products.
According to the Global Banking and Finance Review, 82% of investors say that brand name recognition is one of the most important factors in guiding their investment decisions. Additionally, 71% of consumers are more likely to buy a product from a brand that they recognize.
As branding consultant, Marty Neumeier says in his book The Brand Gap, “The right brand name can be the most valuable asset for your company.”
However, even experienced entrepreneurs face difficulty when it comes to coming up with the right brand name. How do you find a name that suits your business and is also catchy to read? A name that is easy to remember and can be easily searched on the web? Or should you just use a name-generator tool?
There’s nothing to worry about though. Choosing the right brand name might be difficult, but it isn’t impossible.
We have compiled a short guide that is going to cover all the important tips and tricks to keep in mind when thinking of a brand name.
Without further ado, let’s move forward.
What’s In A Name?
Your brand’s name is the core identity of your brand. It’s how your customers recognize your brand and differentiate it from competitors.
What makes your brand better than others in the industry?
Now think about how this exclusivity can benefit your audience. Remember, you’re not just looking for a great name, but one that showcases your brand’s personality.
For example, we decided on the name Sunbirch because of the symbolic value of the words ‘sun’ and ‘birch’. Sun gives an essence of warmth, energy and light which reflects on our aim to shed light onto our client’s ideas, help them overcome any challenges and innovate their projects with renewed ideas and opportunities.
Similarly, when you think of Amazon, the first thing that comes to your mind is the world’s largest e-commerce store, right? But how was this world-wide recognition made possible?
Amazon’s brand consultant chose a name and logo that would highlight Amazon’s features. The arrow which is pointed from A to Z represents Amazon’s ability to showcase a variety of products, and the arrow is shaped liked a smiley, depicting customer satisfaction.
How To Select The Right The Brand Name For You
There are plenty of different ways in which brands have arrived on their chosen names, so there is no defined singular approach of keeping a name.
However, just remember that whatever brand name you choose, it should be selected according to the business’s practices and needs and one that remains memorable for your customers.
Storytelling in marketing is one of the most powerful ways to hook the audience towards your product or service. People love to know the “great story” behind your business, who came up with the name and the mystique surrounding the idea of it.
People remember stories, not statistics.
Suppose your brand has taken inspiration from a mythology, a famous character or has a historical background that customers can connect to. In that case, chances are they are going to be more interested in your brand.
Take Nike, for example. The name ‘Nike’ comes from the magnetic and powerful Greek Goddess of Victory, Nike. The “swoosh” symbol, therefore, symbolizes movement, speed, agility and motivation. Its logo, name, tagline and mission – all are aligned with Nike’s business goals and customer’s demands. This much can be seen by its ever-increasing popularity.
Another example of symbolism and a powerful background story is of the personal care brand, Dove. This white bird is known for its beauty and elegance and legend says that it is the offspring of the Greek goddess of love and beauty, Aphrodite.
Dove uses Aphrodite’s symbol of a bird across all its soaps, shampoo and care products and has been successful in more than 150 countries.
The First Impression You Want
Many companies build a name for their brand through visual associations and phonetic symbolism. They want the brand’s reputation to be the first impression of the quality of the products that they’re leaning towards.
For example, you might recognize the word ‘Puma” from one of the leading athletic and sportswear brand, Puma. But did you know that Puma is actually another word for a cougar, a panther or a mountain lion that can hunt both day and night and is known for 20 ft. high jumps?
The sportswear brand, Puma, features its logo with the image of a leaping puma that highlights one of the core features of the brand: to stay active and leap high!
Similarly, once again SunBirch Consulting serves as the perfect example for a brand that creates the right first impression. While ‘sun’ conveys the idea of light, ‘birch’ like a birch tree conveys the idea of hope and regeneration.
Combined together, this means that Sunbirch consultancy provides our clients with ideas, creative and guidance that can help their business grow to even more successful ventures. It is essentially a promise of what is to come in the future for all the clients!
Marketing Managers are aware of the fact that brands that connect emotionally with consumers are usually the most successful. According to research, appealing to positive emotions generates greater engagement because customers feel like they have a relationship with the brand. Of the study, 44% of consumers endorse and recommend a product solely based on emotional criteria.
Many brand names are centered on feelings to convey a collective experience that is shared by millions around the globe. For example, take Coca-Cola. It connects with people all around the world, based on the sharing of happy memories, experiences and having dinners with loved ones.
Today, millions of people serve Coca-Cola on dinner tables as an essential part of their festivities.
You should ideally opt for a simple brand name – one that can easily stick in your audience’s mind. This could either be two rhyming words that can flow easily or be a fusion of two words that describe your brand. Research also shows that 72% of the best brand names are made of acronyms, made-up terms or mixing of words.
For example, Silicon Valley’s favorite meal-replacement drink, Soylent, takes its name from the famous science fiction book, “Make Room! Make Room!” In the book, Soylent is a mixture of soybeans and lentils – which is exactly what this meal replacement drink is all about! It is made of soy protein and is popular among vegetarians, vegans and environmentally-conscious eaters; therefore, combining the words soy and lentils.
Brainstorming about your brand with people who share a similar vision for your brand, like your employees or your friends, may end up being really helpful…and fun!
Companies like Google and Starbucks wouldn’t have gotten their names if it wasn’t for useful discussions and brainstorming sessions. Gordon Bowker, the co-founder of Starbucks, asked his friends to help him come up with a name for his beloved coffee chain that would be recognizable far and wide. One of his friends who owned an advertising agency suggested that words containing the prefix “st” were usually popular. And this reminded him of the character, Starbucks, from Melville’s novel Moby Dick.
Similarly, Google’s name emerged due to a misspelling by a student at the Stanford University brainstorming session. It was initially supposed to be “googolplex” meaning infinite numbers but the name Google just stuck!
Your brand name is the first step to creating a strong, memorable brand that leaves an impression on your customers. Once you have a strong name, you can then start working on other strategies like your logo, a tagline and your marketing campaign.
While there is no magic formula for choosing a brand name, there are a few things that you should be aware of like your target audience, your brand values and your business needs. Keep these tenets of brand name selection in mind, and you’ll find one that’s perfect for you, in no time at all.