Strategic Branding
Strategic Branding
First of all, don’t make the classic mistake of choosing a name that actually describes what your company does. Nike didn’t choose a name that had anything to do with running shoes. Instead, it focused on the name for the Greek goddess of victory. You want to choose a name that represents your company and what it stands for, but also something that is memorable. Think of some of the world’s biggest corporations: Adidas, McDonalds, Puma. How many of their names are directly related to their products? None. That should be your first hint.
But, while you don’t want your company’s name to be too descriptive and clear, you also don’t want something that is overly elusive and vague. Companies that try too hard to be cool often pay the price when cool turns into confusion in the minds of customers. You also don’t want to have a name that is composed solely of initials. IBM did it, but that’s IBM. Unless you’re sales are in the billions of dollars, you’re no IBM. Chances are that even a word that you invent will be easier to remember than a random grouping of initials.
Choosing the right name for your company is so crucial in your strategic branding process because it’s the first and last thing that customers will have to associate with your company. Do your research and test your top suggestions with focus groups to see if any red flags go up, or which are the most popular and memorable. But, remember, it’s your company and you should have the final say as to what name you choose. Often times your gut will be more on track than whatever your research comes back saying.
Another important thing to remember is that you don’t want to just take the safe road. When was the last time the safe entrepreneur was rewarded? Running a business is all about taking risks, and you need to do the same thing with your name. How many people probably told the founders of Google and Yahoo! that their names were ridiculous and should be changed? Likewise for IKEA? When it comes to choosing a company name, I say go different or go home.
Finally, keep it short. Even where they can remember long company names, people don’t like to say them. If you do have a favourite long name, think of what nicknames people would give it, and go with one of those.
Focusing on choosing a company name should not be your entire strategic branding process, but it will never be complete without it.
Strategic Branding - To learn more about this author, visit Joanna Stewart's Website.
Like this article? Share it with your friends
In the classic “Romeo and Juliet,” the love-torn Juliet posed the question: “What’s in a name? That which we call a rose by any other name would smell as sweet.” Well, I hate to break it to Juliet, but when it comes to running a business, there is more than a lot riding on a name. Indeed, choosing the right name for your company is one of the most important steps in creating a strategic branding strategy. The right name could make the difference between your company sinking and swimming. So, here are some tips to help you get it right and stay afloat.
First of all, don’t make the classic mistake of choosing a name that actually describes what your company does. Nike didn’t choose a name that had anything to do with running shoes. Instead, it focused on the name for the Greek goddess of victory. You want to choose a name that represents your company and what it stands for, but also something that is memorable. Think of some of the world’s biggest corporations: Adidas, McDonalds, Puma. How many of their names are directly related to their products? None. That should be your first hint.
But, while you don’t want your company’s name to be too descriptive and clear, you also don’t want something that is overly elusive and vague. Companies that try too hard to be cool often pay the price when cool turns into confusion in the minds of customers. You also don’t want to have a name that is composed solely of initials. IBM did it, but that’s IBM. Unless you’re sales are in the billions of dollars, you’re no IBM. Chances are that even a word that you invent will be easier to remember than a random grouping of initials.
Choosing the right name for your company is so crucial in your strategic branding process because it’s the first and last thing that customers will have to associate with your company. Do your research and test your top suggestions with focus groups to see if any red flags go up, or which are the most popular and memorable. But, remember, it’s your company and you should have the final say as to what name you choose. Often times your gut will be more on track than whatever your research comes back saying.
Another important thing to remember is that you don’t want to just take the safe road. When was the last time the safe entrepreneur was rewarded? Running a business is all about taking risks, and you need to do the same thing with your name. How many people probably told the founders of Google and Yahoo! that their names were ridiculous and should be changed? Likewise for IKEA? When it comes to choosing a company name, I say go different or go home.
Finally, keep it short. Even where they can remember long company names, people don’t like to say them. If you do have a favourite long name, think of what nicknames people would give it, and go with one of those.
Focusing on choosing a company name should not be your entire strategic branding process, but it will never be complete without it.
Strategic Branding - To learn more about this author, visit Joanna Stewart's Website.
Like this article? Share it with your friends
| |||
 |
No article feedback found. | ||
|
Leave Your Feedback | ||
|
|||
 Building A Better Brand in the New Year
| |||
| The new year is well underway and many of us have been using the start of the new year to review, refine and/or restart various things in our businesses. For this article I want to concentrate on writing to encourag... |
|||
|
Strategic Tips To Help Clients & Customers Remember Your Brand
| |||
| Top of Mind Awareness or TOMA is a very strategic advantage for businesses and individuals. One strategic method of achieving TOMA is through branding of yourself and your business. We all recognize some brands mo... |
|||
|
The definition of branding
| |||
 One of my readers pointed out that they really appreciated the definition of marketing that I use throughout Duct Tape Marketing. Marketing is getting someone who has a need to know, like and trust you. Most small b... |
|||
|
Personal Branding Tip
| |||
| Personal Branding Tip: We have moved from a selling world to a buying world. People want to do their homework and then make a decision. That’s where branding comes in. Branding is More Important than Sales. Sales is... |
|||
|
Home Based Business Branding To Identify Your Opportunity
| |||
| Home based business branding is one of the ways you can get your business opportunity easily recognized. Usually the brand is a visual or an auditory cue. The goal is to have people recognize your brand with a glanc... |
|||
| |||
Dr. John OdaJohn Oda Ph.D NLP is a business peak performance expert, an author, and speaker frequently called upon to provide corporate training, workshops and seminars for many companies in the United States. He is an expert in coaching sales and business professionals in overcoming the behaviors and obstacles that may impede their sales results and affect their bottom line. Since 1995, John has created a speaking bureau such topics, which include: time management, sales training, human diversity, leadership programs and etc. He provides companies with a strategic plan to increase their bottom line by over 25 percent yearly. - Visit Dr. John Oda's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
 Joanna Stewart (Visit Joanna's Website)
|  |
 |
|
|
 |
|
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
 |
 | ||
 |
||
 |
||
 |
||
|
| ||
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 |
 Quick Start Guide Free Marketing Plan Template Google Adwords Guide Get a Top 20 Ranking Article Marketing |
|
 | ||
 |
Top 50 Blogs For Startups
Top Blogs To Watch In 2008 | |
 |
Top 50 SEO Posts - 2007
Top SEO Posts of the Year | |
| ||
 |
|
|
|
|
|||||||||||||||||||||||||||
 |
|
|
||||||||||||
