Name is one of your brand’s most valuable assets. It is how your customers remember, know and refer to your business, and it is how they get to trust it.
As many as 75% of people would pay more for a product whose name they recognize and trust.
On the business side of things, name recognition plays an important role in securing funding as 82% of investors admit that it is an important factor in investment decisions.
In this guide, we’ll look at the key characteristics of a memorable name, as well as the key principles experts use when naming a brand.
Most world-renowned brands have shared qualities that play to their identity and memorability. These qualities will help you critically assess your options and guide you in your brand naming process:
A big part of creating a powerful business identity and branding strategy is finding a name that the target audience can remember.
A study that looked at 700 stocks traded between 1990 and 2004, and concluded that brands with simple names earned at least 11% more than those with complex ones.
There are many examples to support this. Think:
Businesses and brands evolve, so when coming up with brand name ideas that won’t become obsolete fast, it is important to think about the big picture.
In other words: Do not use highly specific brand names if you are unsure how your business would brand out in the future.
For example, Women'secret is a highly specific name for a women’s lingerie brand which would make it difficult to diversify the offering and cater to male demographics under the same roof.
Amazon, on the other hand, is a prime example of a company that outgrew its original purpose but had a name flexible enough to encompass a highly diverse inventory the company is now known for.
Following the key principles is great, but ultimately, your brand name should represent your unique identity.
Your name can tell a story, carry a legacy or entertain.
Take Adidas: Its unique name was inspired by its founder Adolph “Adi” Dassler name.
BMW is an acronym for its widely unknown original German name Bayerische Motoren Werke.
The more you learn about them, the more you realize that every great brand name has a unique story behind it.
The key approach to naming your brand is to start with the big ideas and then go small and specific. That is why, before thinking about the actual name, there are several things that need defining first.
77% of shoppers buy from brands that share the same values.
Knowing your target audience will help you:
Specifically, brands whose target audience is generally not familiar with the types of products or services they are offering more often use abstract names to convey moods or activities associated with them. Because their demographics are low on product or service knowledge, it’s all about selling the brand - not product or service.
Brands with high-knowledge shoppers have “muted” names that allow customers to focus more on the measurable quality of the product and service rather than rely on the name.
Fashion brands, for instance, are often named after their founders (Dior and Chanel, for instance). Their names imply and highlight the quality rather than project an association or image.
In the case of high-knowledge shoppers, it’s the intrinsic quality of the product that sells. The name is a factor, but not as big.
The concept of an archetype is derived from Jungian psychology and frequently applied to branding ideas. It refers to a universally familiar character that helps experts infuse brands with personality customers can relate to.
To apply this concept to your name, start by thinking about your:
There are twelve main brand archetypes:
To find your archetype, consider these questions:
Here are some real-life examples of archetypes used to build a brand image:
Companies build the meaning of the name through stories, products, marketing activities and visual associations.
Some of these names use phonetic symbolism to support their archetype.
The name can set a certain tone which becomes a character and attitude of a business.
The brand tone has two primary functions:
A defined tone can give you control over your audience’s perception of your brand. Some of the tones you can employ are:
57% of customers say they’re more likely to buy from a brand they follow on social media. Businesses must strive to choose a name that is available across platforms.
When looking at legal availability of your desired name and registration of the website domain, bear in mind that, thanks to advanced SEO and brand signals, it’s not as important any longer to choose the name of the brand based on available domain names at it used to be.
When considering how to come up with brand name ideas that speak to your audience persona and represent your archetype, there are certain principles that make the process more streamlined and simpler:
The following five creative agencies work with national and international clients to develop strong brand identities and powerful positioning strategies:
Namestorm is a creative agency that is exclusively devoted to offering professional naming services. The company has served startups, mid-sized and well-recognized brands across various industries to help them create the right name for their business.
Art Fresh is an award-winning team and a full-service branding agency that creates brands. They work with small and large businesses, both nationally and internationally, helping them to choose the right name and develop a successful growth strategy.
Leidar is an international branding consultancy specialized in helping businesses navigate and communicate effectively. The agency collaborates with global companies, international organizations and funded start-ups to help them name their brands and improve their recognition.
Mystique Brand Communications is a Toronto-based branding agency focused on brand development and management. They help startups, small business owners, nonprofits and international organizations develop a memorable name and emotionally connect with their prospects.
Web Sharx is a premier graphic and web design company specialized in branding and advertising. The agency serves small and medium-sized businesses across various industries, helping them name their brands as well as guiding them in regional, national, and international markets
The main benefits of coming up with a good name are:
What are the traits of a successful brand name?
The main steps to consider when coming up with a brand name are: