In the quotes of the renowned writer, William Shakespeare, “what’s in a name?” the world of business, EVERYTHING!
“No, I have no longer heard of it.” & “No, I don’t select this name.” are frequent sentences amid clients who want to decide if they favor buying from a new brand or not.
Hence, your employer identifies a good-sized weightage in a brand’s rise and understanding, which means it can honestly make or damage a company.
It’s remarkable how essential an identity can be. For each employer whose identity turns into an entrepreneurial benchmark – Apple, Uber, Google, etc. – there are many whose names don’t precisely suit the brand, and the enterprise suffers due to it.
We apprehend the absolute power a brand or a business can have, and when a title is the popularity of the brand, getting it proper is fully crucial.
In this blog, we will make sure it matters to think about whilst deciding on how to build brand awareness for our brand. However, earlier than delving into the reply of ‘how’, let’s first apprehend ‘why.’ the company’s name matters.
Why A Company’s Name Matters
1. Company’s Name is The First Thing Customers See
First impressions manage complete connections, so growing a study influence immediately is a quintessential key to branding success. The fundamental component a consumer interacts with a company is the name, so it has to lift the proper message while choosing a perfect name for your business; it wishes to wow the audience. Consider it as a first handshake; it states a lot about the company and creates an effective impact.
In the words of Margot Bushnaq, the Founder & CEO of Brand Bucket, “A catchy uncommon identity can assist the purchaser to take interest in you, and we all try to be memorable and keep the customer. The less difficult it is to spell the better.”
A top-notch Company’s Name can enhance a long-lasting affiliation between a business enterprise and its customers; though, on the other hand, it can ruin relationships if not chosen appropriately. That’s why Brand Name matters!
2. A Company’s Name Sums Up Everything A Company Is About
Quite a few people go into the best name, so simply questioning an enterprise identity off the top of your head is not exactly the most splendid method for a brand. It requires a range of heartfelt ideas whilst constructing an organization as a chief in an industry.
“I recollect we studied about it for weeks and went by heaps of choices. Eventually, my enterprise companion Adam Topping got here up with the title CustomOnIt, which fantastically sums up the whole thing our agency was once intending to do — help people to prioritize their emblem on a range of promotional products,” described Co-owner Paul Serra.
Mostly, it’s an amazingly quick precis of the whole lot the agency is about. Think of a few of the largest names in the world – let’s revisit Apple. Precise values and beliefs are related to the name, and their company is set due to it.
3. Company’s Name is Your Unique Take On An Industry
There are quite a few groups in any given industry. Even more modern industries immediately attain traction and draw entrepreneurs, which shows that a lot of organizations provide comparable services, consequently clients are spoiled for choice.
4. What makes shoppers choose one corporation over another?
The persona of a company; as Simon Sinek may additionally put it, their “Why?” Branding sells, and the title imprinted on a company does most of the footwork.
To put it simply, it’s more than just a name; it’s the popularity of an entire brand. It needs time and consideration, and when managed properly, it will seriously change commercial enterprise forever. That’s why Brand Name matters!
Must Read: Art of positioning your brand.
How To Choose An Ideal Brand Name
Selecting an informal company name frequently leads to snap judgments and achievable values and aspects connected to it by customers. For instance, what do you reflect on considering the values and facets of a brand named ‘Horse’ and buying and selling in the actual property sector?
There can be a plethora of versions and assumptions that can be made, and most of the time, this isn’t true for your brand. There are no challenging and quick policies that groups comply with to select a brand name, however, there certainly are a few hacks, which are listed below.
1. Your Present Matters in a Brand name
When it comes to the era of business, the previous is now not history, the future is now not a mystery, however, the existing present is a gift.
Know who you’ll be attending to, their thoughts and opinions, and pick out a brand name accordingly. You don’t have to fear tons about your potential clients as your picture then will rely by on and large on your contemporary picture and connections.
2. Communication Is Key while choosing a company name
The employer makes a product whilst the clients create the brand. It’s the potential of conversation which types a brand. Any communication, whether or not B2C, B2B, C2C, or C2B, which hyperlinks to the company consists of its brand name.
A study states that if buyers think that the company name is easy and a correct fit, they’ll comprehend it better and additionally like it more. The brand receives a lot of phrases of mouth marketing.
Nevertheless, brands with a longer challenging name additionally have their perks. They are once in a while ideas as skilled and extraordinary of the game.
Only make sure that verbal exchange works right. For example, Cadabra had to substitute their brand name to Amazon as the title used to be generally misheard as Cadaver (which indicated a corpse).
3. Associations Matter, Not The Meaning
In the case of brands, it’s the organization that makes the definition of the brand title by the products, advertising and marketing actions, and connections. Nike, which looks very cool, truly defines the Greek goddess of victory.
Moreover, it is no longer crucial to select proper words. Just create new phrases which have phonetic symbolism that represents the brand philosophy/product most efficiently. These new phrases work as an empty slate on which the brand can tackle meaning.
Although what about possibilities whereby the title has a pre-existing meaning? Till the second that the phrase doesn’t have any sizable affiliation with anything; it works an empty slate. However, if it has some connection, it is prudent to overview it earlier than utilising it.
4. Phonetic Symbolism in Brand Names
Various sounds have a range of psychological results. Sound is something you have to have in thinking as it performs a crucial position in the improvement of the effect of a brand.
Few views of the relevance of phonetic symbolism in brand names –
Researches provide an explanation for that names in which phonetic symbolism supports the product class (e.g., Frosh for sparkling fruits) are favored over brand names besides such complementarity (Frish for clean fruits)
Studies have stated that awesome vowel sounds yield perceptions in contrast to size, taste, and attractiveness. Vowels such as ‘A’ &’ O’ have a tendency to sound louder than the vowels like ‘E’, ‘I’ whilst ‘U’ sounds tastier.
There is a front/back distinction for distinguishing vowels, which relates to the easiest factor of the tongue when pronouncing a sound. For instance, the most top role of the tongue is more to the front of the mouth for bees than for the bin, and extra to the lower back for the boot than for the bin.
Front vowels elevate aspects like shorter, faster, sharper, whereas the other vowels convey facets like longer, slower, heavier. Therefore, it is encouraged to utilize phrases with the front vowels.
It is advised not to sound comparable to phrases such as eew, puke, pee, etc. which have unfavorable associations. For example, an enterprise with the name ‘Pook’ will be much less favored than an enterprise named ‘Kook’.
5. Category Connotation in Company Name
Again, there is no proof that if you connote your product organization in your name, there are probabilities that you will no longer be successful in expanding your profile.
For example, the Indian Tobacco Company (ITC) except for advertising 81% of whole cigarettes in India, additionally has its institution in Food, lifestyle apparel, stationary, hotels, and extra sectors. Furthermore, Dunkin’ Donuts is more famous in India for its burgers than its doughnuts.
6. Product/Philosophy Reflection in Company Name
Several entrepreneurs consider that a brand name has to suit the product class or the philosophy of the company for dependable positioning strategies.
Brand names that consider a philosophy more than the product class may not right away describe what they sell. However, most clients would get worried if the brand is trying to find out what the title stands for. It definitely offers the employees a risk to speak about their brand’s idea and consequently helps the company in public associations.
Eg. – Meru, Metro, Entrepreneur, etc.
Though Product reflection in the brand name encourages clients to join the brand to that unique area of interest and they get the thinking of the services provided with the help of that brand. Eg. – Zomato, Big Basket, Gourmet, etc.
Final Thoughts on Why Brand Name matters
In conclusion, developing a brand name is the first step in constructing your brand identity. It helps clients to figure out precisely what they must think, and sense when they see your organization or hear about it from an exterior source.
That’s why Brand Name matters! Hence, you must be very cautious and put in a lot of time and interest whilst deciding on a company name. After all, everything is in the name!
We, at OpenGrowth, are continually looking for trending startups in the ecosystem. If you want to know any further information about the startup ecosystem or have any mind-boggling ideas on the emerging industries, do refer to the other resourceful blogs at OpenGrowth. If you have any suggestions or questions, do let us know in the comment section below.
