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What’s in a Name? –Creating an Effective Brand Name
What’s in a name? Apparently a lot. If you think about it, some of the biggest companies in the world sell their wares by banking on their name. That is a result of intensive branding campaigns, some luck and of course, a lot of creativity in coming up with a brand name that people will remember.
That is why it’s interesting to hear the latest RingCentral contest where blog and social media followers are being asked to give creative guesses on how the VoIP company got its name in the first place. The blog pointed out that famous brands often have interesting backgrounds. Take Pepsi; they apparently got their name from some type of digestive enzyme. And Starbucks is apparently named after a character from the novel Moby Dick.
Inspiration can come from anywhere. From the name of your daughters to a non-existent word you’ve just invented. But how do you know it will be effective? Only time can tell if your branding efforts will take off or not. There are a lot of variables that you just don’t have control over.
However, it does not mean you can just pull some random name out of a hat and call it a brand. Remember that it’s not all luck, you and your team have to make a concerted effort to come up with the best brand name possible.
To do that you have to consider these three questions.
Is it easy to remember?
Of course the first factor you have to consider is the name-recall. Will people be able to remember your brand name? That is why you have to make a concerted effort to make your brand name memorable. It doesn’t always have to be catchy but something that will stick to customers’ memories. Go for something short, unique and has a connection to your product or service.
Does it fit your marketing strategies?
Take a look at your product and see the selling points you want to highlight when you market it. After considering those selling points, you now have to decide if the brand name you want fits those selling points. You don’t want a brand name that is contradicting your product or service.
Do you legally own the name?
Your brand must not only be memorable, it should also be unique. Before starting a branding campaign, make sure that you have legal rights by getting it trademarked to give you a right to litigate another person or organization if they try to use it or something that very similar to it. Doing this will also protect you from possible lawsuits.
For more information on branding and marketing, you can visit the RingCentral blog.
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