Your brand name is one of the most important decisions that you make when you bring your business to market. Here is where you define what it is you do and/or what it is that you sell. In the long run that is what branding comes down to is the name. Having long-term stability is the most important factor of a brand name. This is because after the initial push to get the brand to market and then the inevitable appearance of competition your brand name will be what sets your product apart from them.
This goes back to being the first brand in your category. Your brand’s name will have a higher recognition value than your competition because your target audience has something positive to refer to when they think of your brand. This gives your brand’s name the ability to be seen as an industry leader in the category that your business is in as well as being an authority in its given category. If this is the case, when they return to the store, they will specifically be seeking out your product while passing over your competition.
When you are considering names for your brand, you need to take into consideration the following:
• What your product does
• The age range of your target market
• Their gender
• Their demographic
• What problem it solves
The name should be kept as straightforward as possible so that it’s simple for your audience to remember.
Stay away from names that could be perceived as negative, your brand name should evoke something positive in the mind of consumers when they hear it or read it. By doing this the consumer will want to be identified with your brand and your product. In the best case scenario, being seen as a quality product and brand will increase your products market value helping you get more leads that result in higher profit.
