Finding a name for your brand could be one of the most difficult decisions you make when forming your business. We can spend countless hours deliberating over how a word could be interpreted, pouring over magazines and social media and researching new ways to imply professionalism, innovation and quality in a single name. Yet, in reality, how important is the name of your brand? Does it really have the power to make or break your business?
Think of the businesses you work with and trust. Why do you continue to use them? It seems unlikely that the name of the brand would be a major factor in this decision. This goes to show that with many successful brands carrying unusual and often nonsensical names, it’s not their name that counts but, rather, what they do with it. This suggests that rather than pouring all of your energy into finding the perfect name for your business, focus your efforts into what people actually care about. Here’s how.
Make a change
Consumers are increasingly siding with brands that are concerned with environmental or social welfare. They want to align with a brand that displays similar values to their own. In fact, a study carried out by Cone/Porter revealed that 80% of consumers feel that they are making a positive difference when they buy from ‘purpose-driven’ brands. Just ensure that, if you do champion a set of values, your entire company lives and breathes by these. Otherwise, you risk losing the trust of your existing customers.
Have a strategy
Nearly every successful business has been backed and led by powerful marketing. Without a plan in place, it will be near impossible to stay on track. Ensure to set a series of content-driven goals, along with relevant deadlines. It’s worth regularly reviewing your overall marketing strategy to ensure your vision, values and future goals are aligned in your marketing strategy.
When you have a strong brand, you need to keep it consistent. If you start to dilute or contradict your message, your brand will start to crumble. This is especially important if you outsource work to third parties or freelancers. To tackle this, ensure that your briefs are clear, and your message is outlined clearly. It may be helpful to create brand guidelines – including tone of voice – to clearly set out the dos and don’ts of your brand.
While a potential customer may initially want to know about the service you provide or the product you sell, often they need you to go deeper in order to convert them into customers. They want to know how you do business, why you do what you do and what you believe in. It was found in a study by Label Insight that over 90% of consumers are more likely to be loyal to a brand when they commit to transparency.
At Skein, we know that strong branding lends itself to a strong business and are well equipped to help you get your branding to the best place it can be. Get in touch to find out more about our strategy, design and development services.