When starting a new business, there are many steps you’ll need to follow – explore different industries and niches, research your target market, register your company, create a website, hire employees, come up with marketing strategies. The list is almost endless. But one of the most exciting steps is coming up with a brand name, and it’s much more important than you may think.
The name of your business is likely to be the very first thing your leads and customers will see. They won’t immediately know your brand story, mission statement, or goals, but they’ll see your chosen name and form their first impressions around it.
Your company’s name will impact your brand persona, your logo, it will be printed on your merchandise and products, and it will even affect the future of your business, so it’s critical to make it count. Take a look at just some of the main reasons why you need to consider your brand name carefully.
Potential Copyright Issues
Uniqueness is one of the most important aspects of branding. You want your company to stand out and be recognizable at first glance, not to be confused with something else, especially not with one of your competitors.
If you choose a name that’s exactly the same or even too similar to another company’s, you won’t only be confusing your potential customers, but you’ll be facing copyright issues right from the start as well. And this doesn’t bode well for your company’s future.
Unfortunately, there are too many examples of poor naming and copyright/trademark infringements. A small, family-owned business John Lemon was sued in 2017 by none other than Yoko Ono and forced to rebrand. BrewDog’s Elvis Juice IPA was sued by the Elvis Estate for trademark infringement. You don’t want to be just another business owner who needs to take on the burden of copyright infringement when you’re trying to lift your business off the ground.
So, when coming up with a recognizable brand name, it’s in your best interest to use a business name generator. It will help you avoid any related legal problems by providing you with unique name ideas that won’t expose you to copyright infringement.
Spelling and Pronunciation
Naming your business is all about getting recognition. As mentioned, you want your target market to think of your business immediately when they hear its name. While that can certainly be achieved with a unique, difficult-to-spell-and-pronounce name, it takes much more time, money, and effort to grab attention that way.
Your target audience doesn’t want to be bothered to learn how to say your brand name. It’s much easier for them to go over to your closest competitor with a simpler name than to try and memorize your brand letter by letter. This is especially problematic if your brand name is your domain name – your audience will never find it.
So, when brainstorming brand name ideas, think “simplicity”. After all, you could spend up to $75,000 on naming your firm. It will be money wasted if no one can remember you.
It’s also a good idea to think about spelling and pronunciation if you’re expanding to foreign markets. You want to be recognizable in local markets as well, so make sure that your brand name remains easy to spell and pronounce wherever your business is located.
Your favorite yogurt producer Dannon, for example, is actually called Danone in Spain and France. The simple change to Dannon for the North American market was to simplify pronunciation and keep it closer to the original. A small change like that on a local level can mean a big difference for your brand awareness and recognition.
Meaning and its Impact on the Aesthetics
A big part of branding is placing your business name and official logo virtually everywhere – on your landing page and all the pages that follow it, on your products, store windows, business cards, company social media accounts. Everywhere. And since it will be omnipresent, you’d better make it count.
Your brand name will dictate your overall company aesthetics, from the color choice to the imagery and the font. You’ll want to ensure that your brand name is visible and recognizable, whether it’s placed on the tiny profile picture icon or on the huge billboard outside of town.
Meaning and Its Impact on Growth
Using “Leopard” for your brand name and using leopard print for your products or merchandise could make sense for a wildlife sanctuary. It could even make sense for a fashion company, but it would raise eyebrows if it were used for your law firm, for example.
Regardless of how much we deny it, we do judge books by their covers, and we do judge businesses by their brand names and overall aesthetics. Would you trust a law firm with leopard print to defend your case in a court of law? Probably not. So a law firm with the name “Leopard” doesn’t stand much chance of surviving in the fierce competition it’s facing, purely because it doesn’t inspire trust among its target market.
So, if you want to give your business a fighting chance, you’ll need a name that makes sense for your niche and that can help set your company on a path to success.
Steer Clear of Passing Trends
If you’re looking to establish a company that thrives through the years, you’ll need to avoid using passing trends as inspiration for your company name. Passing trends are just that – passing. No one remembers them after a couple of years. If you want your company to be remembered and recognized ten years from now, you’ll need an evergreen name that makes a strong impression.
Domain Name and Your Brand
Of course, when coming up with a brand name, it’s critical to do some research on available domains. Choosing the best brand name is completely dependent on choosing the best domain name since they should be the same. If Amazon used the domain name “ama3on” or “az”, most people would think it’s a scam, and they’d avoid ever visiting it.
If you want to boost your website traffic or attract audiences with your digital marketing, you’ll need to perfect your domain and brand name and make sure they match. Otherwise, you’ll just arouse suspicion.
Conclusion
The future of your company is very much dependent on your brand name. The wrong name could negatively impact your bottom line and make it more difficult for you to set your company on a path to success. So, consider the name carefully, and do thorough research before you make your decision.
