Did you know that approximately 85% of men and about 33% of women experience significant hair loss during their youth or middle age? Another compelling statistic is that 80% of businesses fail within the first year of startup.
It might be hard to equate the two. However, having precious hair on the head is analogous to having a good brand reputation for a startup. Blatantly speaking, think of the confidence that the 15% of men with a good hairline enjoy!
They might not be doing anything extraordinary compared to men who have a receding hairline or baldness—however, their hairline acts as an additive that boosts their confidence. A compelling brand name works the same way for startups. It gives them a head start that differentiates them from average rivals.
What is a Brand Name, and Why Does It Matter?
A brand name is one of the most promising brand elements that distinguishes one product from another. Why should you choose your brand name with caution?
It effectively and economically expresses the principal idea behind the brand. The audience notices a brand with a catchy name immediately. The significance of the brand name is instantly recorded in the memory.
The bottom line is that you need a rigorous investigation to create a compelling brand name. Usually, successful brand names are based on regions (for example, British Airways), global influencers (for example, Allen Solly), or Animals with unique characteristics, such as strength and vigor.
What makes a Brand Name Unique and Compelling?
If a good brand name is akin to a healthy hairline, then care, compassion, and focus should be the elementary qualities that go into its construction and nurturing. Like happy head hair growth treatments. Their FDA-approved Topical products render durability and strength to your hair.
For example, Happy Head’s TopicalRx Dutasteride & Minoxidil treats significant baldness and provides a volume boost like no other. Similarly, you must use different techniques to nurture, improve, and promote your brand name.
In other words, a promising brand name:
- It should be simple, easy to remember, and straightforward
- Must be easily convertible into other global languages
- Should hint at your product category or service niche
- Reflect specific qualities
Once the brand name is consolidated, it highlights your identity.
Examples of Brands with Unique Brand Names
Let’s start with a common example- Instagram. It is seldom discussed that Instagram was initially known as Burbn and was a location-sharing app. However, the founders realized that this social sharing model would not stand out.
After that, they came up with a tweak to photo sharing. However, the updated idea would not have clicked if the name hadn’t changed to Instagram. The name is both simple and quirky. The non-complicated English combination term can also be written in most global languages.
It also hints at the app’s main purpose: sharing instant memories through photos taken at the moment. The name is a combination of ‘instant’ and ‘telegram’. The latter element suggests the app is for visual communication among netizens. Thus, the brand name also cites the purpose of the product.
How To Select a Compelling Brand Name?
Despite taking care of your hair and treating persistent hair problems, there is no assurance that your thick hairline will stay. Similarly, it is challenging to ensure that your brand name will stand out. The name that is close to you may seem nonchalant and unengaging to the public.
However, experts suggest some cult brand naming techniques to increase the odds of your brand name making a mark in the market:
Use Fixed Criteria to Define the Branding Goals
Use descriptive, compound, arbitrary, or fantastic brand propositions for naming. Above all, you should have a clear understanding of the role your brand plays in corporate branding strategy.
However, startup owners should also be aware of the relationship between their brand and other brands.
Generate Multiple Names
You can use any name source. Recruit agencies or consultants to suggest names.
Alternatively, you can conduct a 360-degree review within the company involving employees and managers and ask each person for a well-thought-out suggestion.
Align The Names with Branding Goals and Marketing Parameters
Brand names should be easy to pronounce. Otherwise, it won’t click during marketing. Moreover, brand names must also be free from connotations.
Do Detailed Consumer Research
Ensure you conduct detailed consumer research to ensure brand recall and significance. Ultimately, consumers will determine whether the brand name resonates with their purchase intentions or not.
Popular brand analysis
The brands that nurtured their names and made them pivotal to their market appeal have a higher success rate. Take the example of Haagen.Dazs. What is the customer’s attitude towards the brand?
Most customers feel that the abstract and arbitrary nature of the name gives a sense of authenticity to it. Note the clever use of the “double a.” This fanciful umlaut gives it the posh European feel that you usually expect from a global ice cream brand.
The following example could be nothing better than Vitol. The starting “Vi” has been extracted from “Vitality,” which symbolizes the strength and weightage of the name.
The name isn’t quirky or clever. It’s basic. But it’s simple and unpretentious. It’s just what you would expect a major player to sound like.
Should You Reconsider Your Brand Name?
Did you know that Minoxidil can’t cure stage 5 and 6 baldness effectively? So, it is better to recognize and acknowledge your problem and act fast.
The same principle applies to brand names. If you believe the aim is not aligned with the brand proposition, product proposition, or market sentiment, consider adjusting it before it’s too late.
