Choosing a good brand name is about more than just looking cool on your business card or being fun to say. It could be better just because you like it. It’s great because it tells customers something important.
When you combine a fantastic brand name with excellent products or services, along with great experiences for both customers and employees, you’ve got a winning formula that makes you stand out in the market. It’s important to choose a memorable, talked-about, and resonant brand name right from the beginning.
We all want our brand to be widely recognized. But to make that happen, it’s crucial that your brand name communicates everything you believe in. So, how do you pick the right one? Here’s what you need to understand about the brand naming process:
What Makes a Good Brand Name?
Many ideas and some research exist about what makes a good name. For instance, a study from the University of Alberta study in 2010 discovered that people tend to like brands with names that repeat sounds, like Coca-Cola, Kit Kat, and Jelly Belly.
A good brand name possesses several key qualities that make it memorable, impactful, and reflective of the brand’s identity. Here are some essential characteristics:
- Memorability: A good brand name is easy to remember and stands out in the minds of consumers. It should be catchy and resonate with the target audience
- Relevance: The name should be relevant to the brand’s products, services, or mission. It should communicate something meaningful about what the brand represents.
- Distinctive: It is unique, memorable, and stands out from your competitors.
- Simplicity: Simplicity is key. A good brand name is easy to pronounce, spell, and understand. Complex or obscure names can confuse consumers and hinder brand recognition.
The importance of a good brand name
Samsung, MTN, and Coca-Cola show how a great brand name works. Just hearing these names makes you think of what each company offers. Choosing the right name can really boost your brand’s value in the long run.It’s crucial for a good brand name to possess all the characteristics that contribute to its effectiveness.
The top brands globally have linked their names closely with the products or services they offer. Consumers don’t just purchase a product; they invest in the brand itself. This association has been shown to have a positive impact on employee satisfaction, customer satisfaction, and overall revenue.
Types of brand names
- Descriptive brand name
Descriptive brand names try to explain what the brand, product, or service does. For instance, Pizza Hut customers know exactly what they sell, leaving no doubts.
This name tells you they offer pizza. Just by hearing the name, you know what to expect, which is a big advantage.
Other names include airlines, motors, etc . which suggest what the person or organization does.
- Acronym or Initialism Names
These names are formed by using the initials of a longer name or phrase. Examples include MTN which stands for “Mobile Telecommunications Network, SSNIT (Social Security and National Insurance Trust), and GCB (Ghana Commercial Bank)
- Founder or Family Names
These names are based on the name of the founder or a family member associated with the brand. Examples include “The Kenpong Group of Companies,” a diversified conglomerate founded by Kennedy Agyapong, a prominent Ghanaian businessman and politician.
- Geographical Names
These are names derived from a specific geographic location associated with the brand. Examples include the “Volta River Authority (VRA), “a state-owned power generation company in Ghana, responsible for harnessing hydroelectric power from the Volta River and “ Kumasi Central Market,” one of the largest open-air markets in West Africa, located in the city of Kumasi, the capital of the Ashanti Region
How to Find the Right Brand Name
Finding the perfect name for your brand isn’t about conforming to a specific ‘norm’. It can be tiring, frustrating, and exciting, but it is important to know that each brand has its own identity. Don’t restrict your brand based on what you think other businesses are doing.
Think of your brand’s position, mission, and story as guides that can lead you to a fitting brand name. Revisiting these fundamental aspects can inspire creativity and may lead you to some promising name options.
So, if you’re ready to select your brand name, here’s our step-by-step guide to help you through it
- Define Your Brand Identity
Before you start brainstorming names, it’s essential to have a clear understanding of your brand identity. Your brand identity encompasses your brand’s personality, values, mission, and vision. Ask yourself questions like:
- What is the core purpose of my business?
- What values do I want my brand to represent?
- Who is my target audience, and what are their needs and preferences?
- What sets my brand apart from competitors?
By defining your brand identity, you lay the groundwork for creating a brand name that resonates with your audience and accurately reflects your business
- Brainstorm Keywords and Concepts
Once you know what your brand is all about, think of words and ideas that fit with it. Think about what you sell, what’s popular in your industry, and the feelings you want your brand name to bring up. Get together with your business partners or friends and family if you work alone. Just start writing down ideas together. Don’t stress about making it perfect right away.
The goal is to come up with as many names as possible. Write them all down, and then slowly cross out the ones that don’t feel quite right until you’re left with the best options.
For example, if you care about the environment and sell eco-friendly stuff, words like “green,” “eco,” or “earth” could work. If you want your brand to feel fancy and high-class, you might like words like “premium,” “elegant,” or “lux.”
When you’re brainstorming, don’t hold back. Write down anything that pops into your head, even if it seems random. Sometimes, those random ideas can lead to the best names.
- Research Your Competitors
Researching your competitors is necessary for understanding the landscape in which your brand will operate. Start by examining the brand names used by your competitors, taking note of which names catch your attention and fit well within the industry. While analyzing competitor brand names, identify gaps in the market where your brand could stand out. Look for areas where competitors may have overlooked or where consumer needs are not adequately addressed. Aim for a name that sets you apart and makes your brand distinct in the minds of your target audience. Having a name that closely resembles another brand can lead to confusion among consumers and weaken your brand identity.”
- Test Your Ideas
Once you have a list of potential brand names, it’s time to gather feedback. Share your ideas with friends, family, potential customers, or industry experts to gauge their reactions.
Consider factors such as:
- How do people respond to each name?
- Is the name easy to pronounce, spell, and remember?
- Does it accurately reflect your brand identity and resonate with your target audience?
You can use online surveys, focus groups, or informal discussions to gather feedback and refine your list of potential names.
- Check Availability
Before you decide on your brand name, make sure it’s okay to use. Check if anyone else has already claimed it as their own by looking for trademarks. Also, see if the name is available for a website domain and on social media. If your desired name is already taken, you might have to think of another one that’s similar but legally okay.
By doing these checks, you can find a brand name that really fits your business and stands out from others. Remember, getting the right name is super important for making your business successful.
Some common brand naming mistakes and tips on how to avoid them:
- Being Too Literal: Naming your brand too literally based on what your product or service does might limit your growth potential. Avoid being too specific so your brand can evolve. For example, “Tech Solutions” limits you to only technology-related services, whereas a more
- Ignoring Trademarks: Failing to check if your chosen brand name infringes on existing trademarks can lead to legal issues down the line. Always conduct a thorough trademark search to ensure your name is legally available.
- Ignoring Feedback: Disregarding feedback from stakeholders, customers, or industry experts can result in a brand name that fails to resonate with your target audience. Gather feedback throughout the naming process to ensure your chosen name resonates with your audience and accurately represents your brand identity.
