Your brand being the child of your imagination and hard work deserves a name. It rightfully does, but to name is not an easy task, or is it? This is the point where many get confused. People spend many hours researching, proofing, and perfecting their Brand Name and yet they are unable to come to a conclusion.
We all know the importance of a brand name. But do we really have to go through several excruciating hours just to come up with a name? Can we simplify the process? Or is there really a need to do all this in the first place?
We will discuss the process behind naming a brand in 2021 and the factors that everyone should consider. Along with how everything that we discuss is important yet not so important for being successful – We will bust the ‘Myth of Brand Naming’ for you.
Step 1: Figure out the Purpose of your Brand Name
To figure out the purpose you must have a clear idea of where you want to take your brand in the following years. Many startups and even established companies make the mistake of roller coasting through this step and come up with a name that takes the shape of a tool, dedicated service, or blatantly the name of the product being offered. It makes the name industry locked, or geographically locked, ultimately bottlenecking the company after few years of operation.
This process demands you to distill your entire brand into pure clear water, and see through it, the pivot points that make your brand what it is. You have to work around those points, and ask yourself – "Do we need a clear and obvious name?", "Will we be operating similarly in the future?" or "Do we want our name to showcase the product or our values or anything else?".
What we recommend is to have clarity and the confidence to stick to a name, and creating a strong foundation around it.
Step 2: Gathering Elements for your Name
What do we mean by this? We want you to look for what you want to display in your Brand Name. For an instance, a brand’s name could display features like friendliness, precision, power, momentum, efficiency, dedication, quality, service, etc.
These are the elements that would help shape your brand name. Create a formula that is best suited for your brand and cook up your name.
Step 3: The Naming Strategy
This is the step where you will have to consider the factors like industry, trend, and naming conventions. There are various strategies you can use to come up with a name, that either merges with the given factors or reject them.
For example, if you are operating in a serious industry, but you want to stand out, then you should look for a very unconventional name, disrupting the naming conventions and attracting attention in the process.
Your name could be descriptive, metaphorical, suggestive, connotative, evocative, or disruptive. You can use wordplay, rhyming, alliteration – the imagination is boundless. It's up to you.
Step 4: Create a Proper Tagline
Sometimes, what's more, memorable than a brand name is actually the tagline associated with it. A good and memorable tagline is the ultimate icing a brand name could ask for.
Step 5: Narrow Down & Select
A good practice is to experiment and create multiple options to choose from. Now that the difficult steps are done, relax and choose the one that soothes your eye.
Debunking the Myth
The Myth that is revolving around for years is that an awesome Brand Name is all you need to be successful. This Myth has clouded the minds of countless people. Brands over-emphasize and waste a good portion of time fretting over the name and other’s perception of it. What if it’s not understood? What if people don’t like it? The answer is – It doesn’t matter.
What we have learned is that a Brand is uplifted not by its name, but its values and proper branding. The quality and efficiency of the services one provides are more valuable than a name one is known for. A Brand Name with a fancy name with services that are just sub-par is just a façade to fool the customer. Ultimately the façade is destroyed and the Brand crumbles.
Success comes from perseverance and the confidence to proudly embrace your name, no matter what the world perceives of it. Remember, a Brand Name doesn't make your Brand valuable, it's your brand that gives value to whatever name it gets.