What Is The Importance of Branding Your Business Name?

There has been much written about the importance of branding the name for your business, especially when your business intends to be global. Here are some things I have learned when naming my business.

  • When you have thought about a name for your business, you need to check domain names and see if your name is taken. You can also check for similar domain names. You can buy them if you want to be sure that there are no similar names that can be confused with yours.
  • If the domain name is not taken your chances of a name close to yours, in my opinion, becomes less. Regardless, check business directories from different locations around the world and check to see if there is the same name or similar.
  • Google your business name and see if anyone comes up, if they do you are in competition with them. You may not offer the same type of service, but it confuses prospective contacts as to where to go.
  • Should any of the above show another similar name you will have to look at a different name. Sometimes you can just tweak it a little and you are okay. Sometimes you have to go in a totally different direction.
  • When you create everything with your first choice without researching first, there is a good chance you will have to go back and change everything. By taking this step first you will save yourself a lot of time and extra work.

I discovered this because my first and only step was registering my name in Alberta. I thought “who could have thought of the same business name”, and I really liked Nancy’s Virtual Office. As it turned out there were two other businesses, both offering virtual support. Go figure.

I did work with a coach, Diana Ennen, who showed me the errors of my way. Now I am confident that I am unique and my company image is mine.

Again, I just wanted to reinforce the importance of branding your business name.

The Importance of Branding – Why Your Company Won’t Succeed Without One

Marketing consultants across the United States and commentaries are ample in the marketing world with insights on the hot topic of how today’s media piracy problems are making the importance of branding your company bigger than ever. On the heels of CBS’s being accused of media piracy the end of July, to fresh concerns around 3D printing piracy, it all centers around protecting a business’s brand.

One extreme is a fully-printable gun comprised of near 100% printable parts by Defense Dist., as it tests nerves and seems to be highlighting the extremes of advancements in 3D print media and how easily media piracy can be pulled off.

Marketers should take the leadership now in their companies to be ready for marketing messages and plans for a formal launch to jump start the new year ahead. The US Senate and House are of the same mind to delay votes on the anti-piracy bills known as PIPA in the Senate and the SOPA anti-media piracy bill in the House. Majority leader Harry Reid and Judiciary Committee Chairman Lamar Smith both recognized that the marketing fight is too intense just now for legal action until there is wider agreement on a solution.

While it is hard to imagine what shape the new media platforms will take, it is best for businesses to assume that staying on top of them will be laborious and fraught with operational inefficiencies (long legal wait times, politicking, etc) for brands. It seems that building and marketing brands matters more than ever and requires agility and a keen understanding of media piracy protective measures. Professional marketing consultants are valuable for leveraging the strengths of media agency partnerships for brand building.

Key questions remain and need further clarification around defining media theft and just how much it matters in today’s changing media world. However, it seems that when media is “soft”, the protections of Congress’s Privacy Act Bill are needed more often.

Businesses need to be motivated to put in their blood, sweat and tears to increase the amount of interruption and piracy threats that add to the thoughtless ads on the web. It helps to recognize that a brand’s ability to succeed with native ads is tied to the ability of marketing’s creative industry to continue creating great brand content.

Given the changing moment for 3D printing and the new vulnerabilities that creates for business branding, having a well defined and protected brand building process in place is more important than ever.

The Importance of Branding

As consumers, we don’t really think about the importance of branding. We tend to go with the flow of brand names that have become transparent with our daily living (which is exactly what business(s) want to see). However, branding can drive your business significantly.

I like to drink “Coke”. And there are a lot of people who also like to drink “Coke”.

“Coke” is a brand, and the company Coca-Cola has been extremely successful on embedding their brand in our daily lives. The results? Huge profit. I don’t need to tell you how successful they are. You know it. That, is the power of branding. Other huge companies that are successful in their branding strategies include McDonalds, IBM, Microsoft, Nike…etc. Basically, all major business(s) have their own brand.

When you are considering the name of your company, you need to remember the importance of branding. Deciding a name for your business should be a well thought out process. You need to consider various names and their meanings.

Your brand must be simple and unique. Simply put yourself into consumers’ eyes; consumers like simplicity so they can remember easily. You business name should also be unique so they will remember you when people refer to your brand, not other companies with similar names. It’s also very useful to inject positive value and characteristics to your brand. Consumers like products to which they can associate positive qualities.

Proper branding creates loyalty. For example, when people ask me what I drink regularly, I reply “Coke”. When people ask me where I usually go for gas for my car, I reply “Petro Canada”. Now when I reply to people with all these brand names, I am also marketing these business(s) to them. That, is the power of branding.

Branding is what will help you the most in the most effective marketing strategy – word-of-mouth marketing.

Defining your brand is not an easy task; it is sort of a journey of business self-discovery. Previously mentioned your brand has to be simple and unique. However, more importantly is the meaning behind your brand. Ask yourself the following questions:

What is your company’s mission?

What’s special about your company’s services or products?

What qualities do you want your customers to associate with your company?

Your brand can be your business name; it is actually recommended if it is the same as your business name. Once when you have created the name for your brand, design a logo and think of a tag line. Then be true to your brand and be consistent on injecting your brand into your market. Your goal is to make your brand deeply embedded in your market and become transparent to people’s daily lives.

Now the question is, What is your business’ brand?