Your Brand Name is Everything – Business Plan
When you start up a business, you will need to decide a name for it. Choosing a name for a business is an essential part of the journey for any business that’s starting. It is a challenge to determine what the right name for your business would be. You may have come up with a few names, but it may seem like that all the names and domains you think about have already been used before. Don’t go and use a name generator you find on the internet as soon as you need a name. You should understand how brand naming has a couple of psychological methods you can use. The name of your brand isn’t solely the letters that make up the name itself. Here are some of the methods and how they’re useful.
Aspiration naming is when you have a name that highlights the desire of the consumers. If you highlight the consumer desire, you’ll get the customers to associate the brand with moments that are filled with memories. The customers will think of more than the product and remember a fairytale or revolution. It’s an effective method if you have the budget for it to be implemented efficiently. A brand with a tight budget will stand out poorly if they try being aspirational. A brand will have to be more than solely its name if it wants to be genuinely aspirational. It has to be representative of your brand, or else the name will seem tacky.
One of the oldest tricks to naming a brand is to give it a practical name. It is practically named so that there can be a sense of authority and security. Practically naming your brand provides that sense by removing the fluff and being literal. The infamous Durex uses this approach to naming successfully. The name is a literal mix of the words durable, reliable, and excellence. Another example is the popular Facebook. Facebook is an index of the faces of people. There is a frightening connotation with the brand if you consider the data-scraping culture of today’s time. Facebook is quite literally a book of faces. You shouldn’t worry about how the future might hinder your brand name with technological changes.
In today’s world, it is filled with people feeling exhausted and feelings of an impending doomsday. If you make people remember your brand in this world and make them laugh, then that is an excellent way to name your brand. Your brand will get a personality that can take the spotlight, and it will show that your company has a sense of humour. You should be taking this advice with a grain of salt. Humour isn’t the best choice sometimes. For example, if you’re deciding a name for a cancer research centre, you shouldn’t make the brand name a cancer pun. Comically naming your brand is only viable if the personality of your business is strong. You shouldn’t try to be someone that you aren’t when it comes to your business.