The Secret Framework For the Best Brand Names
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There’s a secret that we’d really like to get off our chests. It’s kind of big. A foundational brick, if you will, in any company’s tower of success. Full disclosure, this is normally something that we charge for. But, since we’re a start-up friendly company, we’ve decided to give you this one, on us.
Why so much hype over a measly name? Well, that’s because every single successful company out there knows that their name is the main point of reference for any customer communication. Think press, think marketing and think sales. The only thing that ties it all up in a neat bow and brings the money and recognition back to you, is your name. Corporate behemoths have known this for decades. Take a walk down memory lane, Brad’s Drink changed to PepsiCo, BackRub to Google, Relentless to Amazon, etc., the list goes on and on.
So today, we're going to open your mind to some core concepts, factors and tips to ensure that you're 3-4-5 steps closer to reaching your perfect brand name. You ready?
The message: The most important function of your brand name is to create a connection between your audience and yourself. Your vibe attracts your tribe and the secret to increasing sales is to sell to those who buy into your values. However, your name cannot say everything and therefore prioritization is key. What message is most important? Your USP? Brand promise? What about the experience?
The future: Did you know that Dunkin’ Doughnuts changed their name to Dunkin? No, they haven’t stopped selling doughnuts. They’ve just increased their product/service base. Now, Dunkin’ is a huge brand with enough financial clout to undergo a heavy rebranding. But, if you’d rather pocket that income or use it to expand your business, consider a name that covers everything your business might do.
For example, Reliance and Tata easily enter multiple markets without having to rebrand. This is due to their all-encompassing brand names. Their original goodwill even adds to their sales when they penetrate newer markets.
Some of the other factors to keep in mind are that it should be available for trademark. This is to avoid confusion between companies of the same name. This also protects you if the other company has a similar product offering. In addition, ensure that a relevant domain is available.
- Clearly differentiate your name. It should be easy to remember, recall, relate and pronounce.
- It’s always best to create five names before narrowing it down. This will help you circumvent legal/trademark issues.
- Try and coin your own word/name like Google and Paytm.
- Look for names with a functional or an emotional connection for your audience. Nature’s Basket selling fresh produce is an excellent example of this.
There are plenty of other intricacies to the science and art which is brand naming. You have to consider archetype, legal and testing, among others. But the above basics should really help you out. It’s perfectly normal to find this process stressful and you are making a very important decision.