The term “Brand Name”, most of the people aware that it is a company or organization name. This is not true. The true meaning of “Brand Name” is a feeling of customer about your company or organization or say business. It includes many parameters
1. Hearing – It’s a customer experience about your business and they recommended to real world.
2. Thinking – How the customer think about your business? E.g. cost effectiveness, support
3. Looking – It’s basically quality of services, post sales activities or customer services.
Let’s go with live scenarios, just think that you want to purchase a new shirt whether it’s online shopping or local market shopping. As a normal human, I will ask my colleague or relative for the best option (Hearing). Then I will go to online shopping or local market shopping and make my decision based on company. I’m thinking for a cost effectiveness purpose with quality (Thinking). Also, checking for replacement policy and product services support (Looking).
So how do you start building a strong “Brand Name”? or Importance of Brand Name in Competition?
As a Branding Agency, we always give you a suggestion that “You cannot build a Brand Name overnight. It may take time for customer to position your business within their mind as their only choice for a product or service.”
iVory Web Design always explain below few essential things to their clients before they decide their brand name. We called it SUCCESS (Simplicity, Uniqueness, Combination with Creativity, Equity of brand, Straight Strategies)
iVory helps to make your #brand more valuable
- Our process start from Brand Research and Analysis
- We understand your requirement and provide you best branding strategies solutions
- We love to make your brand more valuable through our branding strategies and creative ideas
- We work with you as a your internal team and provide you best branding solutions
- iVory is a Indias 1st digital agency who providing all in one solutions under one roof; which includes branding, advertising, marketing, website design, graphics design, printing and digital marketing
- Brand Name should have a meaning related to your products or services.
- Brand Name should be easily remembered by target customer rather than something complex and meaningless.
- Brand Name should be easily pronounced so it will easily spread through word of mouth.
- You should have a proper domain name related to your brand for digital branding.
Just as your business should have a unique selling preposition to make out yourself from your competitors, your brand name should also manifest that which is distinct from the others.
COMBINATION WITH CREATIVITY
- You should have a creative logo design for your brand as people can recall your brand name after seeing it.
- You should have a creative marketing material (Letter head, cover design, envelop design, brochure design and email signature).
- You should have a creative website design for your business.
- You should have a social media presence (Facebook, Twitter, LinkedIn and Google+) with the creative social media profile pages.
EQUITY OF BRAND
Brand equity defines the value of the brand and can refer to two understandings of brand value, namely a strategic, subjective understanding or brand equity as a financial, objective expression of the value of the brand.
- Your brand name should stand out from the crowd, by which I’m referring to your closest opponent. After all, a large part of your business concerns will revolve around these few.
- You should have a clear vision statement of your business.
- You should have a clear mission statement of your business.