What makes up a good name?
There are several factors that combine to make a good name. A name should represent your core values and be easy to pronounce and remember. If this brand is going to be connected to other brands or companies, you must think about how it fits within the overall company hierarchy.
A brand is an emotional relationship between you and your customers. It allows you to be recognisable and differentiable in an increasingly crowded market place. A brand also behaves as an internal compass for staff to know what is expected.
A good question to answer when developing your brand is, ‘What is your vision?’ While means of achieving vision might evolve overtime, it is essential that it remains the same. A perfect example of this is Samsung, whose vision is to ‘Inspire the world. Create the future.’ This vision has remained unchanged despite Samsung changing their market offering to adapt to changes in technology and the market place.
What’s in a name?
How do you create a strong brand? Firstly, you must create a strong, meaningful, recognisable name.
The name is the most important aspect of a brand and should never change. Your logo can change over time, but if you want your brand to be successful, you must be able to anchor any changes to a name that consumers will be able to recognise despite any other changes.
To give a real life example of this, take a look at the Pepsi logo over the past 50 years. When coming up with a good name it is important to be as creative as possible.
Creating a brand name
Firstly, define the objectives of both the business and the brand. Remember the name will never change and must therefore be applicable until you achieve all your objectives.
Secondly, make sure you think about your target market. Compile any insights you have about your customer and before approving any name, put yourself in their position. This way you can ensure that any potential names will resonate well with your target market.
Thirdly, consider other brands that are similar to yours, as well as those that represent the complete opposite of the image you want to portray. Evaluate your name in this context and think about how you will be seen, and where on this spectrum you will be placed.
Fourthly, make a list of the core values of your brand and review any names against this. Any name that does not communicate these core values should not be pursued.
Testing your brand name
A set of fresh eyes might come up with feedback and criticisms you had never considered and this is definitely a beneficial step. If you’re able to, it’s also a great idea to test the name among your target market or audience in Australia.
If you follow these steps, you will be able to develop a loyal and long customer base, and in time. If you are looking for complete marketing solutions ideas or IT contracting Melbourne, contact us for a FREE no obligation quote.