Being with students, especially in their natural habitat, is always refreshing. Their energy is contagious and their ideas often exude sparks of radical thinking.
So when I received a request to be part of the jury panel for an inter-B-School business idea competition, I consented to it despite it being scheduled on a Winter Sunday morning!. Each student team had to present a business idea along with the GTM and business plan. A couple of teams made stellar presentations. However, I found it somewhat odd that every team had come up with a descriptive (functional) brand name for its product/service. For instance, if a business idea was around fashion, the brand was called Fashion-Something or some such. Obviously, none stuck.
That prompted me to write this post. In the startup age, it is important for young entrepreneurs to get their brand names right.
Coming up with a descriptive name is a natural human response. That's how we function under regular circumstances. If we're going to work, we say we're going to work. We don't say we're going to have another day in Paradise. If we're eating a paper masala dosa, we say we're eating a paper masala dosa. We don't say that we're discovering the delectable taste of warm potatoes gift-wrapped in edible paper.
But Branding & Marketing is ALL about storytelling, not merely relaying facts (not false stories though). So here goes: seven simple points to keep in mind when you're trying to think up or select a name for your brand.
Of course, these guidelines are simplistic, but then, it's better to have a basic understanding than having none at all.
So when I received a request to be part of the jury panel for an inter-B-School business idea competition, I consented to it despite it being scheduled on a Winter Sunday morning!. Each student team had to present a business idea along with the GTM and business plan. A couple of teams made stellar presentations. However, I found it somewhat odd that every team had come up with a descriptive (functional) brand name for its product/service. For instance, if a business idea was around fashion, the brand was called Fashion-Something or some such. Obviously, none stuck.
That prompted me to write this post. In the startup age, it is important for young entrepreneurs to get their brand names right.
Coming up with a descriptive name is a natural human response. That's how we function under regular circumstances. If we're going to work, we say we're going to work. We don't say we're going to have another day in Paradise. If we're eating a paper masala dosa, we say we're eating a paper masala dosa. We don't say that we're discovering the delectable taste of warm potatoes gift-wrapped in edible paper.
But Branding & Marketing is ALL about storytelling, not merely relaying facts (not false stories though). So here goes: seven simple points to keep in mind when you're trying to think up or select a name for your brand.
1. Is it unique?
Unique sticks. It's a simple principle that often gets forgotten. Just because almost every gym in town has 'Body' or 'Health' in its name doesn't mean yours should too. In fact, that's exactly why it needn't! Make your brand name stand out. It need not mix with its peers. Think Starbucks, Google, SurveyMonkey.
2. Does it lend itself well to "spreading the word"?
Your brand name will spread via the written and spoken word. I'm referring here to just the name and not its depiction. So think about this aspect deeply. Are people likely to make spelling errors when typing your brand name? Say your brand name aloud. Make sentences with it. Say those sentences aloud. Say those in a whisper. See whether "spreading the word" literally would work for your brand. What would the brand's web address be? Is it available? Will it accommodate your brand well? For instance, if you have an "&" in your brand name, you will not be able to include that & in the URL. If you choose to call your furniture app 'Bold Dimensions', would people get the name if you shouted "download bold dimensions" across the floor? Think whether something like NearBuy is a great brand name, or just good wordplay.
3. Is it category-neutral?
You might start out as a hotel aggregator but end up being a holistic travel app. Who knows what brand extensions lie in store for you in the future? Tying your brand to a single category is akin to yoking yourself to the Present. Why not pick a name that would work for any category?4. Does it have a strong visual connection?
The brain remembers things visually. So if your brand name evokes a distinct image in the mind, it's great for brand recall. It's not necessary to leave that job to your logo; your brand name could also shoulder that responsibility. It's not a must, but it surely helps. Think Shell, Orange, BlackBerry.5. Does it commemorate a story?
Again, this is not a necessary attribute, but if you have an interesting story around your inception, you might want to go with a name that commemorates that story. Here is one such story.6. Would it do well on search engines on its own?
It's somewhat related to point #1 on uniqueness. If you have a unique name, chances are you will figure well on organic searches. Doing 'search research' is a must for all the options you're considering.7. Does it have any negative connotation?
Well, this is an obvious one. It's important to do your homework on this so that your brand doesn't unwittingly end up receiving flak because it means something rude/disrespectful/funny in a different culture/context/country/language. Here are some examples of brands that ended up being the butt of jokes.Of course, these guidelines are simplistic, but then, it's better to have a basic understanding than having none at all.
Pictures courtesy of SIMSREE
