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An astounding 81% of consumers say they need to trust a brand before they’ll consider becoming a customer.
That starts with a brand name that gets people’s attention for the precise reasons and encompasses all that a business has to supply. Enter the psychology of branding, a field that has been around since 1895 when Harlow Gale used psychological theories and scientific methods to check promoting (in addition to the art of persuasion).
There’s so much involved in constructing a brand — including selecting the right name. Effective brand-naming requires understanding the psychology that drives people’s perceptions of and preferences about that brand. As we have seen with brands like Amazon, Starbucks and Nike, sometimes it truly is all within the name.
In selecting a brand name, business owners and entrepreneurs must consider emotions, the story behind the name and a number of other aspects.
The role of emotions in brand naming
Emotions play an enormous role in consumer decision-making. People select brands based on their emotions much more often than you would possibly realize. Take a have a look at among the biggest brands on the earth. They’ve established a brand with a reputation that promotes trust, support and understanding.
One in all the most important success stories in branding comes from Amazon, initially dubbed “Cadabra” (yes, as in abracadabra). In 1994, Jeff Bezos decided that books were a great item to sell online and saw the growing business potential of the trendy Web. By 1995, the beta version of Amazon was available for his friends and former colleagues to explore
Why the name change? Well, after some were misunderstanding the corporate name as “cadaver,” Bezos decided something different was needed. Since he was about to boldly claim to be the “Earth’s Biggest Bookstore,” Amazon appeared like a fitting name. This was also due partially to the proven fact that Bezos felt this name would not pigeonhole the corporate into offering only one services or products.
In only two years, Bezos had greater than $15.7 million in revenue. By 1997, the corporate was going public, and by 1999, Amazon was selling CDs, toys, electronics and tools. Today, the corporate has so many alternative services and products that it truly lives as much as the scale of its namesake, the Amazon River in South America.
In the event you can create a brand name (and supporting brand) that evokes that type of emotion, you will be on the precise track.
Related: Find out how to Construct a Brand Story That Buyers Emotionally Connect With
What’s your story?
Every good brand has a story, and a serious a part of that is available in the naming of that brand. While people will be predisposed to make their very own assumptions, the most effective brands are those who guide the buyer’s impressions and perceptions to create the story they need you to listen to.
People love stories. Subsequently, individuals connect easier with brands which have a compelling story and brand identity.
The story, in fact, ought to be real and factual. This shouldn’t be the time for lying or creating fictional accounts of where the corporate name got here from — remember, all of it starts with trust. You can’t have trust without honesty.
Communicate the reasoning behind the name and you may find a way to share your vision for what the brand represents with the world.
Related: You are Not Just Selling a Product or Service — You are Selling a Story. Here Are 3 Steps to Ensure It Sells
The role of cultural associations in selecting a brand name
That is as much a cautionary note because it is a very important branding consideration. It is vital to avoid any potential cultural associations, negative connotations or culturally insensitive terms if you find yourself selecting a brand name.
We have seen loads of examples of those come and go over time, from sports teams to product names to mascots and beyond.
Uncle Ben’s (Logo)
Land O’Lakes (Logo)
The importance of simplicity and substance
While you wish a great story, it must even be straightforward. A brand name should not be overly complicated. Keep it easy.
It’s human nature to avoid names which might be difficult to pronounce or spell. Incorporating a shorter name right into a logo and the remainder of a brand’s identity can be easier. Plus, you possibly can say so much more with less whenever you find the right name.
It ought to be memorable for the precise reasons
Everyone will let you know brand names should be memorable. People have already got trouble recalling brand names. Studies have shown that folks are 81% more likely to recollect your brand’s color(s) than your name.
Don’t select a reputation that is memorable since it’s misspelled in an try and be “creative.” Don’t pick a reputation that has any type of negative connotations. Select a brand name that folks remember for the precise reasons.
Alignment with mission and values
Along with the emotional connection people make with a brand name, it must also align with the brand’s mission and values. This can further evoke positive emotions and help people make decisions based on greater than just a reputation.
A brand name is your one likelihood to make a memorable impression, so it should reflect the essence of what you wish the corporate to face for. Since 64% of consumers are brand loyal based on shared values, that is a very important message to convey.
Related: Find out how to Select a Strong Business Name and Amplify Your Brand
Psychology is a serious a part of the branding and naming of a business. It’s essential to know the best way that folks process information and form emotional connections to craft the right brand name, which is the muse for constructing a successful brand overall.
Taking the time to get the name right will pay off in the long term. While there are a whole lot of different people on the market who will suggest many alternative ways to decide on a brand name, you can not forego the psychology behind all of it.
When your brand name evokes emotion and creates that fast connection, you’ll have succeeded in understanding methods to use the psychology of branding to your advantage.