“How do you name the boat, so it will float …”, – was sung in one famous song. And it was absolutely right. The name of the company is one of the components of its success. You may feel that your business name is modern, fresh and says a lot about it. That’s just not the fact that it says things are positive, and not a fact that helps business to develop. Here are three reasons why your brand name may interfere with your business. Check your company name and make the necessary adjustments.
1. The name is too simple
In fact, many people think that a simple, short, laconic name is very advantageous for a brand and attracts users of different categories, but this is not always the case. A simple name can easily be lost among similar businesses of competitors, does not always correspond to what the company does, and it is extremely important for attracting unfamiliar customers. Well, and one more thing – at a time when business successfully moved to the Internet, without an effective presence in the network there is no effective functioning of this business. A simple name will be difficult to register, it will be difficult to select the appropriate domain name and promote it.
With the original name of such embarrassments, most likely, will not happen. SEO optimization is not an empty phrase, but search engine ranking rules are such that your site may not appear in the search results on the first pages, even if you can achieve this at first with the help of various marketing methods. People simply will not click on a position that will not be associated in their understanding with the search query and views about an adequate response to this query. You may also like Quiotl.com
2. There is already another business with the same or similar name
If you suddenly found out that in the foreseeable geography of your functioning there is another business with the same or similar name, then it is worth analyzing the situation and thinking about the appropriateness of re-branding. This can be especially important if:
- Another company is much better than yours.
- Another company is objectively worse than yours, but it is fairly well known.
- Another company is involved in dubious activities, and you do not want your company to be associated with something dubious or illegal.
- The company has already patented the name in your chosen field of activity and registered a trademark.
You will either have to sue, or pay money, or get rid of this problem even at the stage of its inception. Need I say that the latter option is the most reasonable and painless?
3. The name of your brand is hard to pronounce
If your company has a name that is difficult for customers to pronounce aloud, then most likely you need a re-branding. If people cannot pronounce your long and tricky name without an error, then you lose those potential customers that you could get with the help of “word of mouth”. Professor Daniel M. Oppenheimer of UCLA Anderson School found that people are not inclined to buy products with a name that they cannot read or pronounce aloud, even politicians with difficult-to-pronounce names risk voting much less than their colleagues with more simple record in the passport.
Names in foreign languages can also become a victim of this effect. But even if your word is motivated and corresponds to the product, when entering the market you need to take into account local specifics and perusal. People not only cannot read the name in a foreign language, but also read it with the addition of local color or unpleasant associations. So in due time there was an export name “Lada”, because “Lada” abroad sounded like “gigolo”. And we did not enjoy the demand for mineral water “Blue water”, also because of very unpleasant associations.
Thus, re-branding is not just a marketing move to warm up the already fading interest in the company. Sometimes the name change is a question of the survival and successful functioning of the business. So check the name of the company in accordance with the three criteria we outlined and answer the question if you specifically need to take any measures in your case.