As a company owner, you need to figure out how customers and prospects identify you; that is where branding comes in. When you choose a good brand name, people can easily differentiate your business from your competitors.
Your brand should incorporate all the things that identify you as a business. That is why the process of choosing a good brand name should not be taken lightly. The name of your business is an essential piece of the puzzle because it has to align with what your company stands for.
Additionally, while looking for the right brand name, you’ll need to make sure it’s available as a domain name (for which you can use this domain checking tool), whether it’s registered as a trademark (you can get help with this here) to avoid any kind of legal trouble or confusion.
Since the name is central to your identity, it plays a big part in determining how successful your business will be and what techniques you can use.
Your brand name dictates the reputation you’ll have in the industry, how fast your business will grow, and how much development you’ll be able to achieve.
If you want to learn about the genius of brand building, you’ve come to the right place.
Naming a Brand
Before rolling out a product to the market, sellers have to think about a name that’ll make their product the most appealing.
Naming a brand is an essential part of marketing because what you call your products determines the attitude customers and prospects will have towards it.
With the right brand name, you boost your product’s overall positioning in the market. Just from the name, customers should be able to determine its benefits and decide if it’s ideal for what it is meant for.
With a successful brand name, advertising becomes much easier because it’s well distinguished from what your competitors are offering.
In fact, it is likely to have a carryover effect because customers will associate high-quality products with a well-established brand. Take Nike as an example.
Both the logo and brand name can be identified by almost anyone on planet earth. That’s the lasting power of a good brand name.
Business owners need to pay attention to brand naming to make it easier for customers and prospects to associate products that fall in the same brand family.
Take also, for instance, Apple product names that have the lowercase “i” at the beginning of almost every single one.
When naming your new product lines, the last thing you want is to deal with claims from other organizations that they own rights to the name you’re using, that’s why it’s essential to use the tools suggested at the start of this article.
Brand name crossovers can easily escalate to legal action, which is likely to tarnish the reputation you’ve worked so hard to build.
Using a systematic process that’s thorough and accurate to choose your brand name, you avoid such troubles. History is littered with some pretty bad trademark lawsuits, and no one wants to be on the receiving end of one.
Selecting a Naming Strategy
The process of choosing a good brand name requires a strategy for you to achieve success. Before you start registering the domain name or brainstorming on a new brand name, you need to first figure out the best naming policy to adopt.
Here are three viable options that help you decide if you even need a new brand name in the first place;
This policy ensures that you only use your brand name when rolling out new products and services; in which case, you need a new brand name.
This is a brand policy for an exclusive distributor that applies to producers who don’t have a brand of their own.
When you’re selling your products to a specific distributor, you can use their brand name; in which case, you don’t need a new brand name. Most producers with not brands are employed with private companies to supply the goods.
Lastly, we have mixed brand practice, which is a policy that gives you the liberty to use both private-label and own-branded versions of your offerings. You’ll need a new brand name for your own-branded product, as well as the private-label product you get from your distributor.
Steps to Develop a New Brand Name
Once you confirm that you indeed need a new brand name, you can now use a systematic approach to arrive at one, as described below.
Define your Product/Company
The very first step is to define the distinctive personality of your company or product. The definition should include all the attributes of the product/company.
Check the Landscape
As a business owner, you always have to check out your competition to determine your chances of success.
You need to ensure that the brand name you settle for is not already in use. Make sure that your brand name does not end up directing prospects to rival businesses. Again, be sure to check for trademarks.
Each time you want a new brand name, you need to have more than one option to choose from. As you brainstorm, you narrow down your options and finally arrive at an ideal name.
The free tools as domain checkers could help you a lot by giving extra options and ideas by looking for a perfect domain.
You can go as far as engaging a naming team to help you choose the most appropriate brand name. You should have members with prior brand naming experience on your naming team to cover the protectability of the name.
Get Trademark Protection for your New Brand
Once you brainstorm and arrive at the final selection, you shouldn’t forget to get your new brand name protected. Engage a reputable trademark attorney to help expedite the process. We recommend Bonamark you can run a free trademark check for free and registration services are available.
The process of choosing a new brand name should be treated with the seriousness it deserves. Remember that a good brand name allows you to grow your business to greater heights.
Ensure you go with a brand name with which you can easily build a positive reputation. Don’t be afraid to try the domain checking tool just for the reason that the internet is full of them, also, it is a great source for inspiration and especially that it’s free!#
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We hope this has given you a clearer path in the Process for Choosing a Good Brand Name. If you’re looking for a good book, we highly recommend Brand New Name by Jeremy Miller, read our full book review.
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Mary Derosa is a passionate blogger and the chief editor at her own content marketing company PRable.org. Since college, she’s been interested in break-through technology and technical writing about innovative products and services that change our everyday lives for the better. She’s also interested in web design and photography