Dear entrepreneurs or entrepreneurs-to-be, How long have you been struggling to seal a name for your business? Hours, days, weeks, hopefully not months!
We feel your pain and hence this blog. To conclude a brand name in just 15 minutes, hold on to the last "."
What is the Purpose of a Brand Name?
A brand name, like your name, gives brand identity to a business. Consumers recognize and recall a brand by its name. It goes without saying that a business is anonymous without create a brand name. You certainly don’t want that, do you?
Therefore, one must realize that the brand name is to accelerate acceptance among the masses and help establish a singular identity in the market. A good brand name will prove to be a fruitful asset for a company. That brings us to our next point.
What Makes a Good Brand Name?
Given the many types of brand names, many conflicting theories surface. Some may say a brand name must convey meaning, while some say it should be simple. Think of it, what does OLA convey to you, or was Xiaomi simple?
The truth is there is no magic mantra. There are some brand strategy you may consider while naming process, but the branding amplifies a conceptualized name.
Overall, a brand name should be:
A meaningful brand name does not necessarily mean looking up synonyms or translations in different languages. Remember, a difficult brand name will not bring people to your website or store. Therefore, a brand name should reflect the brand’s essence, values, tonality or nature. Consider Apple, Nike, Ola, Uber, and Blink it, among others.
Using a common brand name means your consumers will confuse you for someone else, but that is only after you can successfully register your business or get a trademark and domain.
Whether you choose to go with an abstract name or something very descriptive, make it easy to pronounce or remember. A difficult brand name will fail your marketing endeavor. People may register your marketing but will not be able to recall your brand name.
A brand name must never grow old. It is meant to last for decades. Although there are no complex rules for that, think of the long term.
Next, you must also be aware of what a brand name should not be
Be Too Revealing
A brand name should be like a headline that lures the readers to read the article but doesn’t reveal the entire story. It’s best not to overburden your brand name for the sake of marketing. A brand name should give a hint, essence or emotion that connects with the audience and need not convey everything about your business.
One of the best examples of a brand that is successful without revealing the entirety of its business is Urban Company (formerly and popularly known as Urban Clap). Their first brand name was kept simple, with Urban signifying their consumer base and Clap as a connection between professionals and consumers.
Steal the Limelight
While a boring brand name can impact the business badly, extravagant names can even affect it worst. Thus, it is essential to consider the average vocabulary level of your target audience, and if you wish to skip the lingual part, it’s best to keep it simple.
Elaborating better with an example. Names like Atelier Dsync for an architecture brand carry the risk of stealing the limelight with their complicated glossary without connecting with the audience or delivering a hint about the services they offer.
We think it’s fair to say these brands attract attention, but their situation is like "do din ki chandni phir andheri raat."
You may start with one or a few products or services, but you may want to scale your offerings in the future. If your brand name is literally your product or service name, it will become difficult to justify it with your expanded range. Therefore, it is wise to keep a flexible brand name that will justify your future expansion areas.
A good example is Cars24; at present, they are used car dealers, but with that brand name, they can scale into the automobile production sector without having to reflect on their brand name.
|A Good Brand Name Should Be||A Brand Name Should Not|
|Expressive||Be too revealing|
|Singular||Steal the limelight|
What Types of Brand Name Exist?
A brand name does not necessarily have to be made out of initials, e.g., P&G (Procter & Gamble), or with elaborative names like Mahindra & Mahindra. Don’t rush; read and learn about the different kind of brand names before concluding on one for your brand.
Generic Brand Names
We have already discussed this type, but let’s plunge into it.
To begin with, here are a few generic brand name; Apple (yes, again), Phonewale, Pizza hut, Only, Zoom, and Boost. Now, each brand name is a great success in the market. Despite being generic, they have owned their names and earned consumer recognition. So, why are that generic brand names less recommended?
The reason is these behemoths invest heavily in branding and advertising. Additionally, they do not hold back in buying domains at exorbitant costs, which is only feasible for some businesses.
Descriptive Brand Names
Descriptive brand name convey what their product or service provides to the customers. They aid in the precise positioning of the brand. Especially in B2B brands, where the buyers want to know what the brand provides, descriptive brand name come in handy. However, here are some common examples of successful B2C descriptive brand name: The Body Shop, Burger King, and Google Pay.
Random or Abstract Brand Names
Get ready to exercise your brain and let the creativity flow. That is a must when deciding on an abstract name. Now, here you need to exercise your brain muscles. To coin an abstract brand name, creative thinking is required. You may crack the code instantly or dwindle thumbs for quite some time before you reach your aha moment!
Though many successful brands like Google, Crocs, Oppo, Goibibo, Harpic, and Havells, among others, have achieved excellent brand recognition, these kind of brand names require hard work to get registered by consumers.
Suggestive or Associate Brand Names
Names that describe what your product or service does, metaphorically or analogically, fall under this category. They do not explicitly tell you what a company does but imply it with words using strong imagery or emotion.
Some very popular examples of such types of brands are Amazon and Twitter. While the name Amazon does not describe the product it sells, it suggests a vast catalog and a massive variety of products it can offer. Similarly, Twitter symbolizes a communication platform, just like a flock of birds tweeting at each other.
Using suggestive names is a creative way to position your brand by focusing on concepts your customers already comprehend.
What are Some Common Strategies for Choosing a Brand Name?
When it comes to choosing a brand name for your business, you need to escalate the following steps:
Define Core Values
Steve Jobs said in a speech, "Marketing is about values." With that, he introduced to the world their all-new marketing campaign Think Different, which honors those who dared to change the world.
Likewise, you need to think of the core values of your brand. Write down your brand’s purpose, vision, mission, beliefs, etc. It will help you narrow down to that one thing you believe in and thrive for. It will be your cue to find your brand name.
Determine the Buyer’s Persona
A brand name should ‘speak with your consumers’ and not ‘to them.’ For that, you must be well aware of your target market. You may begin with creating one or more abstract buyer’s personas and label them with different attributes such as age, gender, location, and other demographics. By now, you’ll have a good view of your anticipated target market and the attributes they may possess.
Exercise some Brand Names
You have come to the most thrilling part. Squeeze some creative juices out of your brain. You ask your team, partners, friends, and family to pitch in for ideas. They must know your core values, value proposition, products or services, and everything your business is about. Also, try to think of different names that fall into the four kind of brand names we mentioned before. It will give you a different perspective on your brand image.
Shrink Your List
Finally, prepare a generous list for review. It will allow you to look at various perspectives reflected by different brand names. Strike out the ones you disagree with or raise a poll. Try to cut short your list or narrow it down to the most favorable ones. Try to sketch your logo or brand name fonts so you can get some visualization of what the name may look like. Remember not to consolidate your list too short because the next part is checking the availability of domains and registration, which may further shrink your list.
The biggest challenge is not coming up with the name but getting the availability of the name for business registration, trademark, and domain. Let us look into each of these areas.
Business registration: There are seven business structures in India: Private Limited Company, Limited Liability Partnership, Partnership Firm, Proprietorship Firm, and more. Unless you are establishing a proprietorship firm, you need to check the availability of your brand name in your category to register your business as Pvt. Ltd., Llp. Ltd., or a Partnership firm. You can consult a legal advisor or a Chartered Accountant for the process or may refer to the Ministry of Corporate Affairs website.
Trademark: Your brand name and logo are crucial assets of identity. No business can afford to lose it to other competitors. It is therefore important to get that little "™" aka. Trademark. It gives you the power to secure your name, design, font, color, etc. You get a unique identity that no one in your business category can replicate. You can file offline or online at the Controller General of Patents, Designs, and Trademarks’ official website.
Domain: It doesn’t end at registration. In this digital world, not having an online presence is like being non-existent. Talking of it, a website is fundamental for which you’ll need to buy a domain. Now, competition is no less intense here. Check out sites like GoDaddy to see the availability of your preferred brand name. It is easier to get a domain if your name is unique or abstract. Regular names are hardly available. Once you clear this stage, you are sure to have sealed your brand name, but it is wise to scrutinize competition on Google as well.
Google: Lastly, surf the web. You may think you have a unique name for your brand, but as you search the web, you may be surprised. Music bands, flower shops, or other entities may use the same or similar names. It may not fulfill your goal of having a distinguished name, so giving this final check is wise.
What if I Cannot Conclude a Brand Name in 15 Minutes?
Fret not! We know it may not be easy for all, so we are here to help. Just reach out to us with your business vision, and we’ll do the name-storming, logo design, brand design, and everything your brand needs to get started.
How to Know If I Have Picked Up the Right Brand Name for My Business?
There is no rulebook for brand naming. You know your business the best. Hence, you must trust your vision and instincts. You can take the opinion of your near ones or your audience, but ultimately it is your gut.
Will a Great Brand Name Help My Business? How?
Most certainly. A great brand name is the cornerstone of effective branding. Your business will benefit from customer recognition, recall, and loyalty by having a great brand name. However, they’ll only love you if you’ll stay true to your brand promises.
Naming your brand is just the first step of branding. Establishing a people’s brand entails a lot of strategic branding activities that we undertake under our roof at Brand Board Media! After all, what good would a good brand name do if it is not taken to the masses? That’s where branding and advertising follow. Lastly, we hope this blog helps you conclude. Otherwise, we are just a call away!