COMPULSORY THINGS TO CONSIDER BEFORE CHOOSING THE NAME OF YOUR BRAND – Oyebola Toyese

“Names have power,” said Rick Riordan. As it turns out, a name can represent a whole lot of an entity. Choosing the right name for your company is a vital step in brand development strategy, as it represents to the public what your brand ultimately stands for. Brand name is a distinctive name identifying a product, service or an organization. Pick the wrong name and you could shut out potential business before you even have the chance to explain who you are and what you do. Many companies aspire for progress, even up-and-coming business ideas look forward to making huge progress. It doesn’t just happen in a day; your brand identity attracts success, and the very first factor to look out for is the NAME the brand bears. The following are things to consider while creating a brand name:

1. How memorable or striking is your brand name? When I say “striking”, I mean how often does your brand name occur to people? Or, let’s not go too far; how often do you remember your own brand name? If I ask you right now, will you be able to tell me without thinking twice or stammering? You’ll want to consider spelling, pronunciation, and length as a priority when entering into the naming phase of your brand development strategy. If your target audience can’t easily pronounce your name, it could lead to branding disaster. Imagine your customers going around mispronouncing your name. Before deciding on a name, you can have a few people that are not part of the process read the name to see how they pronounce it. You may also want to run a test answering the phone with it. This will help to identify if your name is difficult to pronounce.If people can’t spell your name, the best-case scenario is that they stumble upon you. Worst-case scenario is that they find your competitor first. If people are directly looking for you, make sure unnecessary complex spelling doesn’t hold them back. If the name is too long, customers will struggle to remember it correctly. Additionally, customers will naturally shorten long company names. If you must have a long name, you may as well consider abbreviations. Don’t leave this up to your audience. You want your name to represent your brand in a way that comes easily to the audience you’re targeting. This will make you findable, shareable and most importantly, memorable.

2. How catchy is your brand name to the eyes?A number of studies have suggested that individuals have a larger capacity for remembering what they see over what they hear. However, adding a visual element to your brand name could up your odds of being recalled when a purchase decision is on the table. This could mean using words that spark imagination or displaying the name in a visually unique way through the logo. The color of your brand name may also play a factor in consumers’ reaction. Color creates a strong emotional association that can work for or against your brand. For instance, red induces high energy while green insinuates calmness and growth.
3. How appropriate are your choice of words? Different words can have different connotations to different people. You’ll want to make certain that your brand name is composed of strong, positive or descriptive words that won’t trigger any type of negative emotion. Your business doesn’t want that type of association. Be sure to check the meaning of the name in the languages and regions you intend to do business.  It is important to note that most times, your brand won’t become a household sensation overnight, even with a properly executed brand development strategy. You need to draft a brand name that provides hints to your target audience about what your business actually does. This property will not only give clear definition but also make your business lot easier to find.
4. What is your domain name? Note that the domain name is a critical element to the success of your brand. Your online home plays host to a major part of your brand development strategy and if you do not snag a domain name that fits, you might as well throw away all that you’ve brainstormed and started from scratch.

Please, Make sure the brand name you choose doesn’t already exist and if it does, let the difference be clear. This is very important because you will not want your audience to have to choose between two companies with same name. Duplicate brand names can also lead to legal issues, especially in related industries. Be sure to do an extensive research on the name you are considering. Be different. Find something meaningfully unique and there you go; you have a perfect Brand name!