Naming your brand is no less than naming a child. The name should be unique, different, catchy, and simple for the audience to understand and retain for a long time. If you are planning to start a business, you must be wondering on How do I find my perfect brand name?
In 2017, Kauffman Index revealed that around 5,40,000 new business owners start their journey each month. Well, that’s a lot of new competition. Needless to say, it also means new ideas, new business strategies, and innovative solutions for the customers’ pain points. Out of the mass companies, some become the giants, some remain mediocre, while some fail miserably. But how do they do it? What is that one factor that makes or breaks a business? The answer is Brand Name. But how does one choose a kickass brand name for their business? What are the key ingredients for a great brand name? How do I find my perfect brand name?
Relevant Read: Starting a Startup? Trademark Can be a Game Changer
Why finding a perfect brand name is important?
A brand name comprises its logo, brand packaging, typography, personality, and product quality. However, a brand and its market name are not limited. Rather, it is a blend of emotional, visual, historical perspectives. A brand name is an experience that allows the consumers to distinguish between different goods and services in the huge pool where quality is often comparable or the same.
Thus, while choosing and building a brand name, entrepreneurs must go to the greatest heights to make their company stand out among the crowd. A winning brand name will build a connection between your company and its target audience.
What is brand identity?
A brand’s face in the minds of its audience is the brand’s identity. A brand identity is the visual component of a company that not only complements but also reiterates the brand’s motto and reputation to the audience. With its twin set of functions, a brand’s identity attracts new customers while serving existing customers with quality and trust.
Does my company need a powerful brand name?
Yes, let us tell you why. Today, competition is sky-reaching and customers have an unlimited number of choices. So, it becomes crucial for startups and businesses to work on creating an emotional connection with their customers. While building the brand’s reputation takes time, your brand name and logo are something that consumers will notice from day one. The successful brand names were chosen to explain the company’s businesses. But How do I find my perfect brand name that takes my business to the new heights?
How do I find my perfect brand name?
Let’s answer the question How do I find my perfect brand name?
To decide on a successful brand name, so many factors come into the picture. A brand name that represents your company’s vision and conveys the right message will help the business to grow. So, here are the key ingredients to choose a successful brand name:
1. Determine your brand’s purpose
First, do brainstorming sessions to identify the brand’s purpose and what defines the brand? The focus should be on bringing a complete vision of the company on the paper and representing it with 1-3 words. So, understand what the company stands for and what are the benefits of your solutions. It is widely known that choosing product-oriented names is not a wise idea. For example, “Cloth Hub” is a product-based brand name that will not provide any value to the customers. Thus, try to choose a name with depth and diversity.
To achieve this, determining your brand’s purpose and positioning is crucial. Brand positioning will help to determine who your target audience is and what makes your solutions better than the competitors’. Having a thorough idea of the brand’s benefits, purpose, and solutions will aid in deciding a color palette and logo.
2. Comprehensive market research and brand name search
Around 77% of purchases are made not based on an individual product or its qualities, but based on the brand and its identity in the market. If the brand is beloved and has a positive identity, then you are in for the win. But how does a beginner understands what type of brand names and trademarks are preferred by the audience? Here extensive research about the brand, audience, preferences, and top competitors come into the picture.
By doing market and customer research, you can identify the present status of competitive products and services. This will help you to determine what types of brand names are most popular and which brand names are catchy and easy to remember. You can do online audits of competitors’ market presence, their brand’s impact, or use online survey tools to collect crucial information. This will also help to find the customer base, age group, gender, peak hours, likings, etc. By having an idea of the target customer base, you can decide the type of personality your brand name should have to make it attractive.
You must also conduct a brand name search to ensure that there are no similar marks in the market. By conducting a trademark search, you can search various platforms to detect similar or identical trademarks.
Relevant Read: Two Companies, Same Names: Is This Trademark Infringement?
3. Bring Your Story To the Centre
If there is one ingredient that sustains the brand in the market, emotional connect is the one. Customers connect with stories and visual representations. For a visual representation, you need to trademark your brand’s logo. And for the story part, the customer must feel that while purchasing from your brand, they are buying a part of the story. A well-articulated story helps to build trust with the audience. Facebook is a great example of emotional connection. Mark Zuckerberg’s story helped in bringing huge traction to the platform along with its logo and features.
Advertisements are an excellent medium to convey your brand’s story. They help people to understand what your brand brings to the table. If your story is interesting and well-represented, it will attract a lot of audiences.
What are the various types of brand names?
Trademark is a way of referring to brands as it affects consumers’ decisions and builds the brand’s reputation. Trademarks are crucial assets for every business, this is why:
- Trademarks are communication tools that convey your brand’s message to the audience. If you are trademarking your brand, you can use a logo, symbol, phrase, or design to represent your brand. Nike’s Swoosh logo is an excellent example of how trademarks make a reliable customer base.
- Trademarks make your brand easy to find by the customers. This factor comes more important in the current competitive marketplaces with thousands of options available in every domain. How will a customer remember and find your brand again? Yes, trademarks can be a great option as they capture the attention and make your brand stand out.
- Trademarks enable companies and brands to make the most use of social media platforms by marketing and advertising. When you advertise on social media and the audience visits your profile, your brand’s trademark is the first thing they will notice.
- Trademarks never expire. For unregistered trademarks in the USA, you can use is for as long as you want. For registered marks, you just need to renew them after 10 years. Some old and famous trademarks are Mercedes (1990) and Pepsi (1896).
What are the benefits of Trademark Registration?
By registering your trademark, you can prevent trademark infringement and trademark dilution. In the USA, you can register your trademark at USPTO. Maintaining a registered trademark is much easier and more beneficial for a brand’s reputation. It protects your brand’s unique identity and gives you legal rights to raise opposition if someone tries to infringe upon your trademark.
Why Choose TMReady?
TMReady is a reliable option for all things trademarks. Be it from trademark search or trademark registration or trademark monitoring, you name it, and we have it. We have an in-house team of professionals with immense experience in intellectual property. To kick start your business or startup with a kickass brand and logo, you can choose TMReady to get your work done. Want to know more? Visit us here and dive into the world of trademarks, branding, and success