“What’s in a name?” The truth is, the name you choose for your brand impacts the way your product or service is perceived. With these five simple tips from marketing expert Drew Boyd, you can learn how to choose a name that reflects your brand’s core values, distinguishes you from the competition, and is both simple and memorable.
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Instructor’s Welcome Note:
(xylophone music) – Creating and managing brands is one of the most important and challenging activities in all of marketing. A brand can be an enormously valuable asset for your company if it’s done properly. In fact, for some companies, brands are the single most valuable asset the company owns. I’m Drew Boyd and I’ve been in the marketing profession for over 30 years. I teach branding to graduate students and I help companies improve their branding effectiveness.
In this course, I wanna share with you some quick tips on creating brand names, ones that are unique and memorable. So first, let’s talk about the name. The name of your brand is an important touchpoint in your customer experience. A well-selected name is essential if a brand is going to generate loyalty with your customers. Think of a brand’s name as a memory jogger to help consumers recall the benefits that the brand promises. By attaching a product or company name to the brand, your customers associate it with the brand.
So what kinds of things can you give a brand name to? It’s not just products and companies that can be named. You might want a brand name for a particular feature of a product. Hertz, the car rental company, brands its Gold Club, an exclusive club for loyal customers. You can also brand a single ingredient within the product. My favorite example is when Intel created the now-iconic Intel Inside brand. Most people had no idea what the Intel processor actually did.
It didn’t matter. As long as the computer they were about to buy had Intel Inside, they were satisfied. If your product has a unique technology, especially if it’s something you own, perhaps with patents, you can give it a brand name. Toyota, for example, branded its Hybrid Synergy Drive as part of its fleet of eco-friendly cars. Can you brand services? Absolutely. A service is the same as a product in that they are both benefit-delivery vehicles.
Google, for example, offers a range of services that are all branded. In fact, an entire company can be branded. Take Starbucks, for example. You can also create a string of brand names. Here’s a good one. Amazon Kindle delivers books using Whispernet technology. A branded company, a product and technology all in one. Just about anything can take on a brand name, but selecting the right name is key. Let’s look at that next.
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