Most companies put quite a bit of thought into what their brand name will be. If the business succeeds, the name will represent more than just the company. Thoughts, feelings, images, and ideas will all be associated with that name, and selecting something both unique and representative of your business can be tricky. Fortunately, there are several ways to inspire a brand name.
For small startups that want to maintain their modest size, a brand name that incorporates the company’s location can be a good option. Problems arise when the company chooses to grow past the borders of the city, region, or even country in the brand name. Customers may be confused as to where you’re located or which places you serve, though your origins will always be clear. If you do choose a brand name of the sort, be sure your business remains small and controlled.
Branding your company with your surname, and perhaps integrating a family connection, is a powerful way to stir emotions. However, there are many possible drawbacks to consider. Should the business be unsuccessful financially or legally, your name will be associated with that trouble for years, affecting your future relatives. On the other hand, business could run smoothly for decades, and then your family could express disinterest in taking over when you’ve retired, forcing you to leave the company to someone else.
Name and location branding both encounter the same problem: they figuratively prevent the company from changing. The nature of all things is change, and business is no exception. Unless you’re determined to stick to a rigid plan no matter what, give your brand name the ability to adapt to company growth.
Some companies find success taking a demographic approach. Making your target audience part of your brand name can certainly attract the kind of customers you’re looking for, and if that audience’s size and demand is consistent, you’re more likely to profit greatly. Before settling on this type of name, take the time to consider consumers with similar needs who could also benefit from your product. If that group will change your sales significantly, opt for a different naming strategy.
A nice alternative to the above method is to determine your target audience’s interests. A prominent adjective or noun can become a brilliant brand name if its connotations appeal to consumers. People are naturally drawn to things they relate to, so by making your brand name relatable, you please and expand your clientele.
Basing your brand name on your product is a plausible option - if the public enjoys it and will do so indefinitely. Oftentimes, however, products require updates, improvements, or complete makeovers to accommodate the ever-changing market. You may even want to create new products that are better suited to be the face of the company. If your name is inspired by your product or service, keep it open to interpretation.
One major pothole to avoid is creating a brand name that’s too basic. Sure, names that are short and common are easy to remember. But there’s a high chance that those simple names have already been associated with a different brand. A good way to avoid genericism is to combine two short words relevant to your company and tweak the spelling as desired.
There’s a lot to think about when it comes to choosing a brand name. By picking something different, catchy, and important to you, you’re one step closer to standing out.