Tips on How to Choose the Right Brand Name for your BusinessOn by Ramsey
How to choose a unique and effective brand name?
1. Explore themes to get the creative juices flowing
If you have no clue where to begin, exploring various themes such as descriptive, experiential, and made-up names can help spark a wave of ideas and facilitate the brainstorming process.
Descriptive names are those that already convey the particular product or service you are offering and more literal; what you see is what you get. Examples of descriptive brand names include Tan Construction, Smith Design, and Smile Dental.
Instead of being blatantly direct about the product or service, experiential names are more creative and can have more of an impact and connection with the customer. Businesses with such names include Coffee Bean, PayPal, Best Buy and Instagram.
Some key examples of global brands in today’s market that are a product of made-up names are Google, Skype, Nike, Ikea, Pepsi, and many more others. Sometimes picking a brand name doesn’t have to be that deep; you just tap into your creative self and see where it takes you.
2. Keep it short and simple
This one’s pretty straightforward. As much as possible, you would want something easy to remember. Brands with long names tend to be forgettable among customers, and can even be annoying for an individual if they constantly can’t get it right due to its complicated nature.
Pick a name that’s easy to spell and pronounce, and stick to simple words. While creativity is celebrated in business, sometimes being too creative and bold can backfire in the end.
3. Pick a name that will grow with your business
Whether you’re just getting started in your entrepreneurial journey or ready for international expansion, you want to choose a name that’s scalable for your business at any stage imaginable.
Avoid picking names that are too narrow that may limit your business in the long run or those that are likely to be outdated quickly. For example, if you’re thinking of just selling books, you might consider adding stationery products and art supplies to your product range. If your service is based on just a specific area, you might extend your services to other cities in the future.
4. Don’t copy your competitors
5. Consider getting feedback from your peers
A little feedback won’t hurt anybody. Come up with a shortlist of at least 5 names and run them by your family members, close friends, and even trusted colleagues. If you know anyone who currently runs a business or has the previous experience it would help to receive their input as well.
What Makes a Good Brand Name?
There are plenty of theories and a few studies on what makes a good name. For example, a 2010 University of Alberta study found that consumers have a more positive reaction to brands with repetitively structured names, such as Coca-Cola, Kit Kat, and Jelly Belly.
- Meaningful: It communicates your brand essence, conjures an image, and cultivates a positive emotional connection.
- Distinctive: It is unique, memorable, and stands out from your competitors.
- Accessible: People can easily interpret it, say it, spell it, or Google it. (Even if you have an unusual or bizarre name, it must be understandable.)
- Protectable: You can trademark it, get the domain, and “own” it, both legally and in the general consciousness.
- Future-proof: It can grow with the company and maintain relevance—and be adapted for different products and brand extensions.
- Visual: You can translate/communicate it through design, including icons, logos, colors, etc.
This is useful criteria to help you vet names, but there is really one question to determine whether a name is successful (note that we didn’t say “good” or “bad”). All that matters is this: Does it resonate with people?