If you’re just in the beginning phase of starting your business and are trying to think of what to name your company, you might be stuck trying to come up with ideas. Coming up with a brand name isn’t as simple as you might think it is. Your brand name will signify what you stand for in the market. Without the right name, customers may be confused about what your services are, or may not remember you. To help you come up with an effective brand name, we’ll go over the six elements of a brand name.
Memorable
A memorable brand name is easily remembered. This will increase your level of brand recall and brand recognition among consumers. Without a memorable name, you either won’t capture the attention of consumers or won’t stand out in their minds. If you’d like to learn more about developing a unique and memorable brand name, click here.
Meaningful
Having a meaningful brand name means that it is suggestive of the product class and key benefits. In other words, by looking at the name, you might instinctly know what it is. Or maybe it relates to what the product or service is. For example, Pure Barre is a workout studio where you work out alongside a ballerina barre. Hence, the word “Barre” is in “Pure Barre.”
Likeable
Your brand name should be fun or interesting and should have a lot of creative potential. I currently work at the marketing agency, PIL Creative Group. Because of the uniqueness of our name, we’re able to incorporate our brand name into our messaging. “PIL” stands for the owner’s name but we create a play on words and use “pill” for our branding. For example, our logo is in the shape of a pill. Our digital messaging is also centered around taking “our pill” to take your strategy to the next level. It’s fun and has potential to be used creatively in our marketing strategies.
Transferable
Your brand name needs to be able to be transferred (if needed) to a variety of product and geographic settings. For instance, if your name is a term commonly used in Asia, it might not transfer as easily over to the United States. Consumers might not understand what your name means and thus lose interest in it.
Adaptable
This means that your brand name should be relevant over time. If you choose a word or phrase that at the moment is “trendy” it might not adapt well in a couple of years when it is no longer trendy.
Protectable
This is essential when it comes to protecting and growing your brand. You need to be able to protect your brand name legally and competitively. Make sure that your name is not similar to any other company names where they could see it as copyright/trademark infringement. Once you choose a unique name that only you have, then you’ll be able to protect it from other people trying to copy you. Since this is an essential part of creating a business, I’d like to share 12 ways to legally protect your brand.
Final Thoughts
Regardless of what you choose your brand name to be, make sure it truly represent your business. Using these six elements as a checklist for creating your brand name will help you create one that makes you stand out in the market while also catching the attention of consumers.
If you’d like to learn more about branding your business. Check out my latest blog post on the elements for a branding strategy by clicking here.
