Every startup faces a common dilemma — what to call their budding new venture. It seems like a simple enough task at first, but the fate of a new enterprise often rests on the ability to establish a quick and meaningful connection with potential customers. Too bland or descriptive of a name and it goes unnoticed. Too bold and daring and it may appear risky or unproven. Here are five steps to getting a company name that will communicate your message and build brand equity.
Let’s face it… when it comes to creating a company or product brand name, it’s a real jungle out there. With thousands of new businesses starting each day, stand out brand names can seem like a vanishing species. A number of successful firms have turned to animal names to give their brands a more human touch. Here’s why…
The right branding strategy makes all the difference. As companies grow, product lines expand and market conditions change, business owners often find themselves with a company brand image that no longer reflects who they are or what they do. Perhaps they started in a niche market, or with a very specific product, and built their entire company identity around it — and the business now serves a different, bigger or more diverse customer base.
The start of most business introductions begins with the mention of the company name. So just how important is this little piece of verbal real estate? Is a better company name worth re-printing all the business letterhead you just purchased? And what about current customers – will they become confused or think something is wrong? Balancing the risks vs. rewards presents a challenge when considering a company name change, so here are four good reasons, four key indicators, that a company name change might well be in order.
We’ve all witnessed it – the seemingly overnight success of some start ups that begs the question “what am I doing wrong here?” Is it the idea? The timing? The commitment? Why do some companies transform into breakout brands, while others struggle along? In my 25 plus years of working with entrepreneurs and start ups, I noticed three similarities between the companies that skyrocket vs. the ones that sputter out. Here are three ingredients that will fortify your brand for immediate growth.
They set the mood, tone, and personality of the organization. Typically the corporate name serves a more background, or supportive role than a consumer-facing service or product name. For example, Apple serves as the umbrella corporate name while Mac (Macintosh) and the “i” names have served as the leading product names. This type of corporate naming strategy allows future brand extensions and an overall brand “architecture.”