Creating a Strong Brand - Small Business

Creating a Strong Brand Name

The name is the brand trigger. When it is said or read or thought, all the impressions, experiences and promises of the brand are brought to mind.

Creating a new brand name, whether is a new company or a new product line, is an opportunity to take a deep breath, take stock of who you are and where you’re headed, figure out what new things you need to add to the marketing mix, and what baggage you may be ready to leave behind.

The following key attributes should be present in every company name:

■Position the company/product within the markets it serves.

■Attract customers and prospects, usually by stating a benefit, specific or implied.

■Be memorable

■Be easily pronounced

■Have positive verbal associations and connotations.

■Be unique, not at all like competitor names.

■Be protectable.

Next is a list with some five things to be considered when you start naming a new company, product or service:

1. Determine How Important the Name Really Is

Having a clever name isn’t always important. Many companies thrive in industries that are based on government contracts, bidding wars, business friendships, etc., and their name is often just a unique identifier to be placed on legal paperwork.

For most companies, however, their name can be an integral part of their marketing process. A clever, memorable name can make a potential client think about the company for a few extra moments, which may be all you need to get the edge on your competitors.

2. Stand Out…

The most common mistake made when naming a new business endeavor is to make it sound like the others in that industry. This is based on anxiety about whether the new business will be taken seriously. In reality, it’s critical that you stand apart from your competition, and that you look to your competitors as examples of what to avoid.

There are literally 30 or 40 wireless companies called Mobile-something — Mobileum, Mobilocity, MobileOne. Make a rule and don’t pick a name with ‘mobile’ in it, if you name a wireless company.

3. …but don’t get carried away.

A name that doesn’t mean anything, or it has no depth won’t work ussualy. A name should connect with something already in the collective subconscious. Don’t forget, you’re trying to make an emotional connection.

4. Test your tolerance for going ‘out of the box.’

If you’re looking for something unusual, usually when it comes down to it, the obstacle is always fear. Make sure that the fears aren’t based on what happens to brands out in the world. It’s like Banana Republic. People don’t see the name and think, ‘Whoa, an ugly racial slur — I’m not going to shop there.’ It’s all contextual.”

5. Don’t involve too many people

Most corporations have no problem delegating marketing and advertising issues to the marketing department, but when naming is involved, especially naming the company itself or key products, suddenly everyone wants to have a say in the process, and it can quickly become politically and emotionally charged. Therefore, it is essential that you keep the number of people involved in a naming project to a minimum, that they have real authority, and that they all understand the ideas outlined above.

Small Business Branding: Can You Really Achieve it

Last week Brandz announced the annual most valuable brands top 100. The big “surprise” was that Apple had over taken Google as the worlds most valued brand, not really a surprise to anyone who leaves the house these days to be honest but I digress. The top 10 featured the usual suspects and here they are:

1 Apple

2 Google

3 IBM

4 McDonald's

5 Microsoft

6 Coca-Cola

7 AT&T

8 Marlboro

9 China Mobile

10 GE (General Electric)

This got me thinking about branding for small businesses, or rather the lack of it. Many small businesses don’t even bother with branding. They often incorrectly assume that only large corporations have a need to build their brand. The truth is that firms of every size will benefit from having a strong recognisable corporate brand. Here is some great advice for anyone looking to improve their small business branding:

Be different: No business can ever truly distinguish itself from the brand of a competitor if it attempts to copy elements of their branding strategy. Your brand has to be distinct from the competition, with its own personality and characteristics. This can really shine through in your web design.

Positioning: Look carefully at the position of your competition within the market. Understand that it is unlikely that you will be able to occupy the same position and should instead try to establish yourself in a different place within the hearts and minds of your potential customers.

Tell a story: The most successful brands have the ability to engage and thrill potential customers with the stories that they tell. Plain old facts are just simply boring. A story, such as the effect your product has had on the lives of your customers, are an incredibly potent tool for branding. A great tool to extend you story is careful use of PR.

Purchasing decisions: To succeed at branding you have to understand what compels people to buy a product that they might have been on the fence about. The majority of purchases are not rational and are ruled by the heart rather than the head, therefore you must appeal to the heart of potential customers.

Be genuine: Your audience will see right through any fakery or pretence straight away so it is always recommended that you are entirely genuine. Avoid promising things that you cannot provide or pretending to be something that you are not. Customers need you to be honest about things or else they will never build a bond of trust.

Small business branding is vital in my opinion. Many discount it as it is seen as expensive but this does not have to be the case. In reality it means having a combined approach to your marketing and making everything linear and promote you business in a consistent way. The great news is Igneous Marketing have just the service our unique bundles – pick yours today – click here