If you’ve ever found yourself in a position of naming a business, you’ll know that it’s no easy feat. You need something that will have longevity, that accurately represents your business, and that is catchy enough for people to remember. It can be easy to become disheartened when you can’t find a name that you like and that also meets these criteria, however, it is important that you persevere.
It is absolutely worth investing time and money to ensure you select the perfect brand name for your business. Still not convinced? Here are 4 reasons why your brand name matters.
It helps you to stand out from the crowd
In today’s saturated markets, you need something that will help you to stand out from the crowd. A brand name can differentiate you from competitors, or it can allow you to get lost amongst the masses. Choose something that is engaging and memorable, but not too tricky to spell or understand. The easier the name is to identify and remember, the more chance it will come to mind when they are in need of your product or service.
It is the cornerstone of your brand
A brand plays a huge role in creating a successful business. If done properly, your brand will represent the purpose of your business, what you stand for, and how you are different from competitors. All of this and your entire brand identity will be touched to your brand name. If you get the name wrong, it can impact the way your brand is perceived and undermine the work you do in this space.
It will increase sales
A strong brand name sticks in people’s minds, ready to be used whenever it is needed. If your name has strong brand familiarity, people are more likely to head directly to your website or social media when they are in need of your services. Even if they begin with a general search, there’s a greater chance they will click on the result for your company. This extra traffic translates to extra sales. A weak brand name will miss out on this attention from potential customers, and therefore won’t experience the same success with sales.
It will make it easier to secure talent
Branding is not just important for consumers and sales. It plays an essential role in attracting the right talent to your company, ensuring you can deliver the high-quality service and products that will have customers coming back. A good brand name will stand out when people are searching for a new role and individuals may even seek to work with your organization specifically. It promotes the values and purpose of your organization, attracting people who have individual ideals that align with the company’s. You get people that are right for your organization and employees get to work for a company they genuinely believe in – it’s a win-win!
As you can see, there are a range of reasons why your brand name matters. If you get it wrong, the ramifications can be disastrous. While it may seem that finding the right brand name requires significant investment (and it does), you will definitely get your money back. Just think about the ROI in terms of extra sales, talent attraction, and brand loyalty – there’s no denying that a good brand name will be worth the investment in the long term.
If you are struggling to find the right brand name, it’s time to get creative. Whatever you need to do, make sure you do it. Your brand name really does matter.