3 Key Elements you need to Brand your Business
When talking with many new and existing business owners as a brand consultant, I am always asked what are some key elements that are needed to properly brand my business? The answer, as simple as it may sound can be broken down into 3 key elements that are the mainstays and catalyst of any entrepreneurs success.
By focusing on these elements, we would hope to will (will1 /wil,wəl/ def 2. expressing inevitable events; def 6. expressing probability or expectation about something in the present.) any strategic brand to success and growth for the future.
Element #2 Your Brand Name
Although business ownership is not as complicated as a Shakespearean play, Shakespeare was dead on with why “whats in a name” can hurt or hinder any person or companies progress. When developing your brand depending on your product, the name you choose to define, develop or expose your product is key. Knowing the names origin, how it relates to the customers who use it and which direction to position your brand are elements to think of when developing a name.
Although we know Mercedes Benz to be a name that evokes quality and luxury the world over, its name is traced to a simple concept, love. The love that German businessman and racer Emil Jellinek had for his daughter Mercedes Jellinek and his ability to sell cars as well as sell the name of Mercedes to DMG co-owners Gottlieb Daimler, Wilhelm Maybach and Carl Benz.
Can this name sell cars? Well of course as we know the story of Mercedes Benz is based on its quality. As many of the co-owner’s names (Daimler from Daimler Chrysler, Maybach from their exclusive Maybach series and Benz from the Name Mercedes Benz) look familiar, it is truly Mercedes that we remember most. Why is this you ask, here are some ideas.
First, the name Mercedes provides the speaker of the text more complexity in length and number of syllables. Secondly, the name had no immediate connection to either of the founders of the DMG corporation which made it easier for the founders to choose with less biases. How about the new car that has taken over the world by the name of Tesla. Although there may be a limited number of people who understand the cars name is homage paid to the late inventor Nikola Tesla, it provides a level of ease and uniqueness that has taken the car industry by storm very similar to how Nikola Tesla’s electronic ideas that left the early electrical current industry in awe.
But in today’s world of web site url’s, social media pages and searches, how easy is it to find Mercedes Benz, or to type in the url or search? What’s easier, Mercedes, Tesla, BMW or KIA?
Naming in the digital Age
As you can see with the ever-changing impact of the web as well as the ease of tying in a name or writing it out. How your name is used, referenced and remembered is important. Although BMW is also synonymous with quality and luxury, most people will have less of an issue guessing its url… BMW.com. While BMW really stands for Bayerische Motoren Werke, by understanding the importance of simplification, BMW has continued its name winning with simplicity.
Looking to provide your companies outreach, social media or url to someone when running out of a network meeting is important. If this name requires too much explaining, literation or spelling. Using a key series of important guidelines will help merge the difficulties of developing a name and keeping focus towards future clients ease of use.
Key Considerations in Naming
- Keep the name Short and Sweet – In the age of an amazing amount of information coming at us it is always important to keep your message as well as name short and to the point. Less than 12 characters if possible will give you the best chance of easier memory.
- Be unique and Have some fun – While it can be hard to truly come up with a unique name, we have some the onslaught of unique pronunciations and spellings with the latest onslaught of companies to take over industries and markets. KIA, Uber, Lyft, Apple to name a few. Not only do we know right away who they are but what they do even though the name doesn’t always reflect it.
- Research your Name – When you have found a name, google it. What comes up? Having unique hits on your future website is much easier if no other url’s or companies have your name.
- If possible, tell a story – As I had decided my next company to be named after a small town in Wisconsin called Mondavi, once my research and googling commenced, I came to the realization in 2005 that I could not overpower the Mondavi brothers(wine connoisseurs)brand capital for Google positioning. Add a “Cor” and an extra “i” and Cordavii was born. Although at the time I did not know what type of business I would run, I knew it would be something.
- Mimic you market – If you can’t pronounce the name, it doesn’t automatically make it a luxury brand, but your probably not far off. Once you know which market or clientele you want to attract or service you want to provide, provide a name that fits within the realms of reality.
When looking at ideating a great name or business concept, there are many companies tasked with the job. One great resource I have found in my market is: