Changing the name of a brand is a major decision that can have a colossal impact on its success. There are a variety of reasons why companies change their names, from shedding negative connotations of their business, to appealing to broader audiences.
In 1909, Gugliielmo Marconi received the Nobel Prize for the invention of the radio. It wasn’t until World War I, however, that the radio became a medium of mass communication. In doing so, a new method of advertising was born. According to A Brief History of Advertising in Americaby William O’Bar, “few innovations transformed the nature of advertising as fundamentally as the radio. Only the Internet would prove so revolutionary.”
Starting a business can seem like a monumental undertaking. Breaking down the necessary steps can help you control your to-do list and prioritize your tasks into manageable chunks. Let’s start with your business name.
Author and community leader Yehuda Berg was quoted as saying, “Words are singularly the most powerful force available to humanity.” Linguistic experts have studied words and language for decades, attempting to identify and explain why words do what they do. Why do fun words or phrases stick in our heads? How do some words create vivid imagery when others stay bland and dry? What is the best way to say what needs to be said?
The English language is one of the most diverse and complex languages spoken around the world. It is also one of the most prevalent. In fact, according to linguistic scholars, English is currently the second most popular mother tongue globally, with an estimated 350-400 million native speakers. As equally important is the fact that over a quarter of the world’s population can understand the language and have at least a rudimentary competence in its use. All totaled, between 1 1/2 and 2 billion people write, speak, and/or understand English.
Some new business owners make the mistake of thinking that creating a brand for their company involves nothing more than choosing the right name. Although that is a very important part of the process, it is simply one of several components needed for successful branding. For some that may seem daunting – choosing a name can be hard enough. Fortunately, the process doesn’t need to be overwhelming, especially when you can utilize Brandroot’s marketplace to get the ball rolling.
A company’s branding strategy is made up of several distinct elements; one of which is creating a unique and distinctive logo. Selecting a name and determining your company identity is a vital part of the branding process, but without a quality logo to put a face to the name your business name is just a word. Logos are one of the most important parts of branding. Just ask the average customer what a large yellow “M” stands for or which company a red and white target represents. The importance of a quality logo cannot be understated.
The most successful companies in history are the ones that were able to create strong brand identities with their names. There aren’t many people that don’t immediately recognize names like Nike, Starbucks, or Google. Choosing a name is one of the most important decisions a business will make. Often, a creative and unique name is the difference between the development of strong customer connections and a lifetime of obscurity. It may feel like names like Xerox and Pepsi have always been a part of society, but where exactly did those names come from?
A company’s name is often a very undervalued component. It should be, however, one of the most important. In fact, it’s far more than just a component; it is the foundation on which an entire business stands. This is especially true for Internet startups. With a bad name, a startup loses points on scales for credibility, legitimacy, influence, and even confidence. Understanding exactly what a business name is, how it functions, and the consequences of choosing a bad one will quickly set your business apart as a one that is accomplished and trusted.
In today’s Internet driven world, business owners looking to maximize opportunities have to think about many things that weren’t an issue twenty, even fifteen years ago. How is social media impacting your marketing strategy and do you have a sophisticated online presence to showcase your expertise, product line or services? The Internet has indeed transformed how we do business and more importantly, how we run business. But how about something as straightforward as your name, is a business name and a domain name one in the same? If you’re unsure, here are a few points to consider that can help clear any ambiguity that surrounds one of the most important features of your business - your name.
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Brandroot focuses only on content related to business naming. Before selecting the name of your venture it is important that you have a solid grasp of what you're in for.
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