Know These 6 Key Principles In Choosing A New Name For Your Business
Almost every business faces a situation in its life when the owner and his associates realise that their entire business needs a rebranding. While sometimes some of its aspects need a rebranding, some other times every aspect of the business needs a rebranding, including the name of the business.
This may seem a drastic move, but it works for most businesses. However, according to a brand consultancy Sydney like BrandQuest, you have to keep some important criteria in mind while changing the name of your business. Here they are.
1. An Easy to Pronounce Name
One of the most important criteria you should consider while finding a new name for your business is that the name should be easy to pronounce. If your customers can pronounce the name easily, they can remember it well.
Don’t be tempted to coin some very creative and hard to pronounce name. Such a name can affect your business negatively because people find it hard to ‘say’ and remember and therefore are confused. Your new name should not confuse your customers. Instead they should feel happy while asking for the brand in shops and while recommending it to their friends.
2. Let the Name Tell about Your Core Concept
While you should remember to find a name that can be easily pronounced and remembered, you should also see to it that it tells about your core concept. This may sound difficult, but it’s here where you can put your creativity to work. You need not be very elaborate; but the customers should visualise what your company is about; that will make them remember and spread the name more easily.
3. Understand Marketing Psychology
A lot of research has been conducted that reveals the relation between the names of companies and the related consumer behaviour. Some studies have revealed that company names with a hard consonant sounds, e.g. Nike or Coke, have got more success than companies with their names ending in softer tones. However there are other studies too which have different suggestions to find names for your company.
Just make sure that you do thorough research before you start finding the new name.
4. Branded Elements
These are the images that companies can create consistently. Some names go quite nicely with certain branded elements, while others make that quite difficult. As far as possible, select a name that will make the next step of the branding process a little easier.
5. Consider Taking Help from Experts
While you want to take professional help for rebranding your business, it’s natural that you will want to choose the name of your business by yourself. However, there is no harm in consulting with professionals with brand strategy consulting firm like BrandQuest in Sydney regarding how the name you are considering will help your business in the long run.
Experts have years of experience while working with different companies and seeing their success or failure; therefore they can definitely predict whether the new name will be successful or not.
6. Check the Originality
A very important thing to consider is to check the originality of your new name. You don’t want to get engaged in a legal mess just because you didn’t take care to check whether the new name you selected was already in use.
Checking the originality of the name also makes it easier to secure website domains and to spread awareness that your company name is unique. Therefore do a complete research to ensure if the name you are considering for your company has not been used by anyone else.
Considering these points will help you in finding just the right new name for your business that will bring a refreshing success to you.