3 Keys of Selecting a Unique Brand Name
If there’s one thing that entrepreneurs have learned the hard way it’s that one must never underestimate the power of a name. Hold on a second, isn’t doing business all about innovative products and dynamic networking? Well, not quite. All of those technicalities are of extreme importance, but they come to the party much later. The first objective of laying the foundation for a successful business is creating a unique brand name.
Selecting the name of your brand is a task that must be approached with caution and thoughtfulness. This is because, the way you name your brand, can have a lasting impact on receptive customers. Simply put the more effective and exclusive the name is, the better are the chances of your brand becoming a major hit among the customers.
Name selection sounds like a pretty easy job. I mean it doesn’t take a rocket scientist to figure out a name for a brand. However, a person or people of great wisdom to come up with a brand name that leaves a mark on anyone and everyone who hears it. So how can you come up with an effective and inimitable name? Take a look at the 3 keys listed below.
1) Has to be Functional
The functionality of a brand name refers to how well the name can describe the nature of your business. When you are going to name a business, you must select a word that has a strong connection with the function of your business or product.
This stands true for branding as well. Each brand has its own motives. When you name the brand, the name must represent those motives of the brand. In short the name has to speak for itself. It has to be self-explanatory, and should not require you to get into elaborate explanations about what your business does. Let the name do the talking for you.
The obvious advantage of selecting a functional brand name is its self-descriptive nature. In this way, you are being able to save hours of time which would have otherwise been spent on providing others with details about your business, product, service or brand.
A functional name clears the air of confusion. It also bridges the communication gap between the consumer and the business owner in certain ways. The moment the consumer hears the name of the brand, they instantly acquire a clear idea about what they are dealing with. Some examples of functional names include Facebook, YouTube, SoundCloud, Burger King, General Electric, United Parcel Services (UPS) etc.
2) Has to be Memorable
Besides conveying a clear message about what your business is, the name of your brand should be catchy. Once people hear your brand name, you want them to keep thinking about it. The name has to be so impressive that it is worth their remembrance. This can be achieved by intentionally stringing together a group of words that are a perfect match.
Unlike the previous key, where the focus was of self-description, the goal here is to attain self-imagination of what your business is. You want the customers to ponder over the name and guess its meaning or significance. Functional and self-descriptive names make it easier to understand your business, while impressive and memorable names make your business interesting.
The idea is to make the customers as curious as you can with the name. You don’t want to give the whole story away. In a way, such names defeat the purpose of a functional name. They may not get to know the complete details, but they sure will have a raging eagerness to dig out more information. This is how you hook their attention and stir the pot.
Google, Sony, Yahoo!, Twitter, Coca-Cola, Wikipedia and Pixar are examples of some memorable names.
3) Has to be Simple
The third and final key deals with how not to overcomplicate the name of your brand. Flamboyant, charismatic and witty names are always welcome unless they are too complex to be comprehended by the casual customers. The name of your brand has to cater for every type of client, and not just the smart marks.
One must also realize that the more complicated a name is, the easier it is to forget it. Also, complex names tend to have difficult pronunciations that end up being a tongue twister for many. Complex names also lead to increased spelling mistakes that may turn out to be quite embarrassing for your business.
Regardless of whether you go for a functional name or a memorable name, you cannot ignore the aspect of simplicity. This is the one factor that will either make or break your brand. You will often see companies resorting to acronyms to name their brands in an effort to keep everything as simple as possible. Examples of simple names include Apple, Amazon, Nike, Shell and eBay.
At the end of the day, you must remember that the name is the business, and the business is the name.