One of the most overlooked strategies for new business startups is the creation of a brand name. Most entrepreneurs always assume that their top business ideas are sufficient for their projects and so ignore the need for a good name for business. If you fall under this category, then you've been going about your business the wrong way.
While your business project is clear to you without a brand name, the same can't be said for your target audience. This is what makes your brand name very important. And in a tough and competitive business world, your business must be well-branded if you want to convey your brand's goals and ideals to your customers.
To do this, you need to create a catchy, exciting, and long-lasting impression on your customers through your brand name. However, there are certain errors to avoid along the way.
Three Brand Naming Errors With Devastating Effects On Your Business
1. Letting Emotions Guide Your Naming Process
The business world is a corporate one and to thrive in this world, you must learn to balance professionalism and sentimentality. However, when the goal is to come up with a unique and eye-catching brand name, you need to look at the bigger picture.
For you to get that broad appeal from your target audience, you must look beyond emotions and sentiments, or else you won't be able to properly convey your brand's messages and values. And this brand naming error could also drive your brand to the point of obscurity.
For example, the popular emailing website Yahoo! previously came across as Jerry and David's easy guide to the world wide web. BlackBerry once ended up as Research in Motion. Imagine what would have been for these brands if they stuck with their original name ideas.
2. Suffering Setbacks Caused By Negative Connotations
One key thing to note about any brand is the fact that you're going global. Your brand is going to be launched to the world and customers from different backgrounds are going to be drawn to your business by their needs and problems. And while the services these customers receive are similar, they are distinguished by their languages.
In essence, you must be careful not to employ the use of terms or phrases that possess different connotations in different languages, especially if they have negative meanings.
For instance, the word 'Bae' can be used in a fashion brand's name and while it seems like a harmless word to the common American folk, the word Bae means poop to the people of Denmark. Also, you should avoid initials or abbreviations that translate negatively e.g., KKK or NAZI, and so on.
3. Using Names That Are Hard To Remember
Studies have revealed that for every five customers that engage with branded content, four tend to forget these branded contents within 3 days. This further emphasizes the need for clear and easy-to-remember names.
In the current digital space, the common naming trends include misspelled names and elaborated pronunciations. However, what guarantees the success of your startup project is the use of memorable names. These memorable names make it easier to lodge your brand firmly in the minds and hearts of your target audience and investors.
This is why companies like Bolt, Uber, Taco Bell, and Burger King, all have great successes. They've gone for unforgettable names with references to everyday life. In the end, you have names that are clear, simple, and, most importantly, hard to forget.
Wrapping Up
From ipipi.com to Fashism, there's a long list of startup projects that have been marred by naming errors and disasters. To avoid the same fate, you must ensure that your brand name is simple, clear, and void of any negative connotations. Only when the above-listed errors are avoided can you be sure of long-term success for your brand.
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