A great brand name communicates something to your customers and potential customers, and choosing a brand name should, therefore, be a customer-focused process. A great brand name enables customers to identify and remember the brand conveniently. It also provides a convenient way to discuss and compare brands.
A brand name ought to be considered as an intangible asset since it can be very instrumental in differentiating your brand and accelerating brand acceptance. Adequate investment in time and money should, therefore, be made towards the selection of a brand name.
Coming up with a great brand name can be very challenging, and that is why we have compiled a comprehensive guide to help simplify the process. Alternatively, you can hire a professional brand naming service to help you come up with a superb brand name.
The first step is to understand what a good brand name is composed of.
Characteristics of a Good Brand Name
Although there is no universal formula for a great brand name, here are the common characteristics of successful brand names
• Meaningful – it communicates what your brand entails. It also creates a positive image and emotional connection.
• Distinctive – It has an element of uniqueness and is easy to remember. It stands out from other brand names.
• Accessible – it is easy for people to say it and spell it so that they can easily search it
• Can be protected – you can legally own it by acquiring a trademark of it or by buying the domain.
Adaptable – it can be used to represent multiple company products and different brand extensions. It can also stay relevant as long as the company exists. It should grow as the company expands.
• Visual – the name can be communicated using various designs such as icons and logos.
Steps to Choosing a Great Brand Name
1. Articulate the company’s core identity
You need to clearly understand what your company seeks to achieve before coming up with a brand name. This step entails looking into the following
• Vision – why your company was formed
• Mission – what your company seeks to do in the market
• Values – how your company does what it does
The mission, vision and values articulate your company’s purpose, and they are instrumental in coming up with a great brand name.
The next step is to hold brainstorming sessions with the company’s stakeholders and creatives. Reasonable guidelines to work with should be laid town for effectiveness. Some good starting points include
• Identifying the adjectives that best describe what you do
• Articulating what you want people to feel about your brand
• Checking what words freely associate with your product/service
Another effective way of brainstorming is considering the various categories of brand names, which include
• Founder – A brand name based on or inspired by a person. It can be a real person or a fictional one. An example is Johnson & Johnson
• Descriptive – a name describing your product or service, such as General Electric
• Fabricated – a name that is entirely made up, such as Instagram
• Metaphor – a name that is inspired by mythical characters or natural features or processes, such as Patagonia
• Acronym – a name created from initials or abbreviations of a statement
• Magic Spell – a name created by bringing two words together, such as SnapChat
3. Vet the brand name
Come up with a list of the team’s most favorite names, about 20 of them. Then proceed to the US Patent and Trademark Office website and search to see whether the suggested names are already taken.
If they are all taken, you then go back to the first step and repeat the process. If multiple names are unregistered, select the top three to proceed with into the next step. Consult your legal team after the preliminary search so they can perform a legal vet.
4. Test the brand name
This step involves testing how the top three brand names resonate with people. You do this by following these three steps.
• Create three branded landing pages for the three names. They should be identical in all other aspects except the brand name.
• Run a Facebook Ad targeting your potential customers for a few days
• See which of the three pages got the highest conversion rate
The brand name with the highest conversion should be considered as the best brand name.