We all know that coming up with a name is easy. But coming up with a brand name that communicates a clear market position and value proposition, resonates with customers, and is easy to remembered can be very challenging.
Imagine a company who provides great products and services but have a name that nobody can remember or even pronounce, can lead to a great marketing opportunity lost.
So, today we have 4 simple steps for you to come up with a brand name that works!
Knowing your target audience: You must clearly identify your audience; their age range, education, occupation, life-style etc. The clearer the target audience is the easier it is to come up with a brand name that resonates.
Like Freshket, we are trying to connect with our target audience: a young food business entrepreneurs age between 20-45 who are ambitious, adventurous and daring.
Focus on being relevant and meaningful: Once the target audience is defined you must ensure that the brand name picked is easy to understand and resonate with them. Moreover, the brand name should also communicate your marketing positioning and value proposition.
For example, if your target customer are generation y and z customers and designed your restaurant to have a hip and happening vibe, you wouldn’t name it with a traditional name like Thai Silk or Ban Kinaree. Not only that they don’t communicate accurate brand image and positioning, but also doesn’t attract the right target audience.
Catchy and easy to pronounce: Brand name length or number of syllables is not as important as being catchy and easy to pronounce. As long as the brand name is easy to pronounce and catchy for the target audience, it will automatically sink-in. This will greatly enhance your brand recognition especially when you combine with a product and services that fits their need.
Just relax and free your mind: Like we said earlier, coming up with a name is not difficult. It can come from something simple that is relevant to the target audience. Remember, if you think too much then you always run the risk of brain-block.
For us, we aim is to create a fresh produce marketplace. So, we must have the word “Fresh”. Then, we think about what is easy to pronounce and meaningful. We tried Freshget, Freshkey or Freshbet they are somewhat meaningful but not so easy to pronounce. Eventually, we throw the word “Market” into the mix and landed with Freshket! Which is meaningful, catchy and easy to pronounce, just try to say it 3 times, Fresket, Fresket, …Freshket, catchy right?
So, that is how we ended up with our Brand Name. We hope that our tips are helpful and can guide to you come up with a name that works for your startup.