There are some marketing mishaps that can be corrected, but there’s one decision that’s pretty permanent: naming your brand. If you’re an established business, you have nothing to worry about, but for new companies or even a new line of products this is a big decision.
But where do you start? Do you try to pick something trendy or go with the founder’s name? There’s often good reason to take one of those routes, but it’s best to start with two simple questions. What does my company or product represent? What is a name that reflects that? If you can answer those questions, you are well on the way to choosing a great name.
So what are you all about? It’s more than just the industry you’re in. A competitor to Firestone can’t be called Best Tires as that’s not unique enough to resonate with people; and it’s probably too ubiquitous to be trademarked. Look at the core values of your company, see what sets your product apart, and research the industry in depth. If your company values speedy service, consider a name like Lightning Auto Center. You evoke emotion and imagination from a consumer and will portray your main message right through your name.
Look at the butter spread industry. One of the top sellers is I Can’t Believe It’s Not Butter– a product that sells for double the price of leading brand Country Crock. They picked a name that represents exactly what they want to be about, even if it is a little on the nose. The result is customers responding by buying tub after tub.
It’s important for your customers to recognize your brand with familiarity and appreciation. It can be difficult to make such a big decision, but it will ultimately be rewarding if it’s done correctly.
Until next time,