First impressions matter, and the brand name we choose for our business can either hold us back or help us stand out. The brand of our business will start as a way to communicate our business and offering, but it can be a vessel for cultural currency and goodwill, soon becoming an asset in and of itself.
The right brand name is found to impact adoption rates and brand equity, but how exactly do you go about choosing the right one?
Characteristics of a winning brand name
Good brand names tend to exhibit a few recurring characteristics. Memorability and simplicity are important here, particularly if you’re a business wanting repeat custom and to spread via word-of-mouth. The likes of Apple and Stripe are easy to spell and have minimal cognitive load in their recall – they roll off the tongue.
A name can also communicate the brand’s essence within a sector, like PayPal. If you’re wondering about the abstract brands like Nike, they still evoke a compelling association, such as victory. Distinctiveness is important to stand apart from others, but perhaps the biggest mistake is choosing a name that sounds like it’s in the wrong industry.
The name’s digital footprint must be secured early on, and verifying the availability of domain names with IONOS is a quick way to do this. But, on the topic of suiting the industry, this applies for the extension of a URL. For example, don’t choose “.io” if you’re a bakery, because many will think you’re a tech firm.
A practical guide to choosing your brand name
The brand naming process can be systematic, but it relies on a balance between immediate perception and long-term value. Some of the greatest bands, like The Doors, only begin to make sense after you get to know them. Yet, first impressions also matter, so gathering opinions from others is certainly an empirical way to achieve this.
Your ideas can begin with strategic ideation and brainstorming to more technical analysis like semantic laddering and competitive analysis. Of course, you want to ensure nobody else already has this brand name, particularly for legal reasons, and you may also want to apply for trademarks yourself early on.
Learning from the best
“Zoom” is a great example of a good brand name. Its brevity and phonetic ease has an implication of speed – it’s bordering on onomatopoeia. Should you come up with a name like this, but “.com” was taken, it’s worth considering an alternative domain extension.
Many early tech companies chose names that were either too generic, like General Magic, or were too complex. Some names are very abstract, like Häagen-Dazs, and on paper shouldn’t work – but does. It’s a made-up word that’s not easy to read in English, but there is an association there with European luxury.
So a lot of this comes down to feeling, which is often constructed from our existing culture. But remember, your customers may well come from a different culture, and therefore have different associations.
Your name, your legacy
Choosing a brand name isn’t just a creative exercise, but a foundational and strategic decision that can help or hinder your place in the market. A strong brand can make it more difficult for newcomers in the market to undercut or copy you, so it’s an investment worth getting right.