Business/Brand Naming is one of the most important aspects of starting a new business or a brand. Naming should be decided to keep in mind that not only it communicates the core value of the company, but also the possible future avenues of the business. Brand Naming plays a very important role in marketing and investing activities. Brand Naming plays a central role in deciding the marketing activities for the business.
The Futur: Source
It is required that the team follows a rigorous market search, brainstorming, and internal testing protocols before finalizing the name. Business naming indeed can be a daunting task, but it is worth the hard work as the future of the company/products offering depends on the naming itself.
Here, we have listed a few pointers/tips which can be followed by the businesses in the naming procedure.
1. Represents Core Brand Ideas
A company/brand name should represent the core values or the business under which the company operates. This helps in the quick association of the name with the offerings which it provides, and consequently better audience name remembrance. Company names like Groww and Upstox, for instance, helps audiences quickly relate to their offerings i.e stockbroker and financial services. Names like these are easy to remember and recall for references.
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2. Naming as per Target Audience
Brand Naming can be done as per the target customers which the company is focusing upon for maximum share of the sales. Such closely associated names help in easy brand remembrance and recognition of the services which it is offering. Classmate, for instance, has named its brand keeping in mind the target audience, school, and college students, as the brand is for stationery products. Similar is the case for Pizza Hut, the naming is done after the main business of serving and delivering pizzas.
Shaan Stationery: Source
3. Names Associated with Nature
Companies can also name their Brands/ Business products in association with nature if the company is engaged in providing natural or herbal products. Brands that are engaged in the food processing or beauty industries commonly use this naming technique, to gain quick customer acceptance, attention, and loyalty towards the brand. Brands like Mamaearth, Lotus Herbals have used this technique for brand naming.
4. Exclamation Based Names
Companies can name their brands/businesses as per the exclamations that they feel are likely to be spelled after the consumption of their products/services. These brand names are quick and easy to catch and are likely to get instant brand recognition. Moreover, brand names like these are used commonly in day-to-day conversations and as a result, their reach can be spread widely and more easily via word of mouth. Wow Momos and Oh! Calcutta are some of the companies which have banked upon this strategy for the naming of their brands.
Wow! Momo-Wikipedia: Source
Speciality Restaurants Limited: Source
5. SEO Based Names
New-age startups understand the power of Search Engine Optimizations (SEOs) in the digital world for brand recognition and marketing. Many new startups and even old companies are now naming their brands as per the SEOs and keywords which are most likely to be in trend for now and years to come. These startups also take a step forward and consult with the SEO Service Providers to come up with names that can be easily marketed on the web. Slice, a fintech company that offers credit cards, the bills of which can be easily split into 3 free monthly installments has used this technique. Facebook has recently changed its parent company’s name to Meta to capture the rising trend amongst the individuals for the Metaverse.
Credit: Slice on Facebook Homepage
Credit: 1000 Logos
Although it is hard to find an available single word for the brand or business naming purposes, one-word names are still the best technique to name the brand/business. A single word is easy to remember, has a lasting impact on the user’s mind, and makes it easier for the marketing team to design campaigns for the company. Brands like Apple and Amazon have followed this psychology in brand naming. All these one words invented have now become immensely popular. Some of these brand names have also become synonyms with the services they offer. Google, for example, has become synonymous with the web search engine.
Credit: The Verge
7. Catchy and Matching
Catchy names help in getting instant audience attention and also help the marketing team to build eye-catching, and quirky advertisements for the brands. No company would like their brand names to be boring and sound the same as others, moreso like their competitors. Companies like Zomato and Swiggy, for example, both operate under the same primary business of food delivery. Their brand names however are different from each other but are easy to catch and retain.
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8. Use of Abbreviations
Companies with old working histories have shortened their names with abbreviations to get better customer outreach and remembrance. For instance, Kentucky Fried Chicken became KFC, Bayerische Motoren Werke became BMW. These companies have seen a robust turnaround in their marketing outreaches and consequent increased sales volume after the usage of abbreviations in their namings.
9. Reference to National Language
Use of words, that are meaningful to the core values of the company, but are in the national or vernacular languages can also be used. These brand names are generally used to target the domestic market and to face competition offered by international brands. These companies are mostly fully indigenous.
10. Founder’s Name
The founder’s name can be incorporated in the business name of the company as well. These days this naming method is followed by small businesses which are mostly run by family members. However, some big companies incorporated in the past years are all named after either the first names, last names, or the full names of the business starters or owners. The TATA Group, Adani Group, Godrej Industries are all examples of companies that have followed this naming strategy.
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Credit: Adani Group-Wikipedia
These were some of the tips which a business or the brand owner can take into consideration while coining the name of the brand/company.
Companies should also remember to check the availability of website /domain names which they are considering to finalize. Sites like GoDaddy.com and Networksolutions.com helps in knowing the name availability. There are also sites like Namemesh.com and Naminum.com which also generate fresh names for a brand or a business. Sites like Shopify Business Name Generator perform multiple functions simultaneously, it generates business name ideas along with checking domain name availability at the same time.
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Credit: Startup Stash
After the team members have finally zeroed in upon the name of the brand/business it should immediately register the same with the appropriate government authorities. By doing so, it would be able to protect any potential misusage of its brand name and forgery going forward. The company must register every brand name associated with it. This will help the company in protecting its own identity from counterfeit brand names and also launch probes and litigations against anyone who misuses them for an unfair advantage.