The 7 qualities of a winning brand name
When you were named by your parents how did they come up with your name which you have for life? They sometimes get it right and the name reflects your character and people empathize you with that name.
They have effectively branded you.
This is why a brand name is so important to your business.It reflects your goals and sends a strong message to your target audience creating loyalty and trust. Get it wrong and you will not be noticed and your business can come across as being unattractive to your customers.
Your brand name must be dynamic, memorable and relative to your product.
‘ A brand is the perception someone holds in their mind about you, your product, your service, your organization and your cause.’
What are the everyday characteristics of a successful brand so you can build your brand accordingly.
1. Being Unique
Being unique separates you from your competition especially if you have a USP ( Unique Selling Point) if you see Apple, they are very visible and they are a really attractive brand. They are known for their innovation and beautiful slick designs. This sets a standard within the industry and they have become the leaders in their field.
Domino’s Pizza became leaders in their industry because of their service.they promised that if they did not deliver within 30 minutes your Pizza will be free. All good unique selling points.
- Audience Knowledge
Having a thorough knowledge of the make up of their target market is the mark of a good brand. Successful businesses have a specific target audience which resonates with their products, for example B&Q.They have an understanding that their target market providing a path for the tone and the goals of the marketing strategy, as well as the total identity of the brand. That’s why B&Q is synonymous with the DIY industry.
Returning customers expect the same level of quality and service from your business.restaurants are a prime example where reputation and consistency are paramount.
Inconsistency will be a negative force on your business. With so much competition in industry as a whole customers are looking for good service and value for money.this is where your brand name will convey a strong message of consistency, for example, Marks & Spencer.
Yesterday i attended a presentation given by my friend Lee Kavanagh of Brand You Creative. I witnessed pure passion.The way he spoke was emotional, not robotic and he was able to answer tricky questions because its his business and he is passionate about what he does. Businesses will buy into you, not necessarily the product, obviously that is important.
Consumers can be your greatest tool for marketing. If they are as enthusiastic as you, the word will spread.Your Brand name will be your headline.
- Be Competitive
For a brand name to be successful your business should consistently research your competitors so they can thrive and stay ahead by innovating and connecting with their target audience.The major companies go the extra mile for their customers and work very hard towards optimizing their brand.
A marker of knowing a dynamic successful brand is being able to connect with their target market through multiple channels. Larger companies have bigger budgets so have the ability to reach a larger audience for instance they have platforms in place where they can use television commercials, major worldwide magazines such as Vogue.As a result they rank in the top tier of SEO’s.
However smaller companies have access to social media platforms, for example, Twitter, Linkedin and Google+ . All of these allows small companies to reach a large audience instantly and engage with them promoting there products or merely conversing with them.
As was said at the beginning of this article your brand name should reflect your character. As your business grows there has to be a leader who has to be an arbitrator and a decision maker as well as a diplomat when solving problems. If the team is to follow the leader they have to be motivated and given worth in order to remain loyal in order to drive your company forward.Your brand name will stamp authenticity to your core values and install consumer awareness of what your business stands for.