Finding the right brand name can feel like an impossible task. There are a number of equally important yet conflicting things to consider. Gone are the good old days of naming your brand after its owner like Johnnie Walker, Gucci or Barclays. Today businesses need to take every competitive advantage available to them and that starts with brand naming. The right brand name needs to balance delicately between being familiar but exciting, it needs to be creative but still be easily understandable.
It’s important to get your brand name right because it is a difficult thing to change. Companies undergo extensive rebrands, the change their product offering, culture and visual design, the one constant through all of this is the brands name, so there’s a lot of pressure to get it right.
It may seem like a tedious task but getting your brand name right is worth it. Three of the benefits of getting the brand naming process right are:
Good brand naming improves product recall
One of the first challenges when marketing a new brand is getting people to remember it, a brand name that sticks increases your brand visibility.
A good brand name increases market penetration
A brand name that increases intrigue improve the likelihood of early adoption and product trails. As a result your market penetration is improved by getting brand naming right.
A good brand name is the first improves brand culture and identity
Branding is a integrated process and brand identity starts with the name. Your brand name is often the basis for further visual design and the name of your brand sets the foundation that the rest of your brand identity will be built upon.
The brand naming process is about finding just the right mix of functional and strategic elements combined with creative flair. It can be a long and arduous process but you only get to do it once. Finding the right name is one small step in setting up your brand but one giant leap towards success.