In slow motion venture capital (VC) market and potentially less money for disruptive startups, those looking to attract capital need a strong brand now more than ever. A strong brand starts with its name – nothing will be used more often or for longer. Plus, it’s the one thing your competitors can’t take away from you.
Brand is a cornerstone that directly affects consumers and investors. In today’s digital and global economy, it can mean the difference between a brand being instantly remembered or completely forgotten.
Brands are much more than simple labels and clever descriptors. They can serve as powerful marketing tools to create or change consumer perceptions and as the first step in building an entirely new market.
Startups in particular need names that signal the company and its products to the future, not the past. They need a company name that shapes their brand image, resonates with their target market and supports their business plan.
Startups need names that signal the company and its products that are about the future, not the past.
A trademark is usually the first thing a potential customer sees or hears about software and other digital intangibles. In entirely new industries that are just emerging, brands need distinctive breakthrough names to generate interest and early market share.
When we work with startups to develop new names, we use an internal checklist to ask if our recommendations pass the test. Here are five questions we ask ourselves to ensure the names we create for startups are memorable, distinctive and stand out from the crowd.
Is the name an original idea?
Don’t be fooled by the saying that a good brand tells your story. This is impossible to do in just one word. Instead, brands are the foundation upon which your brand story is built. Do you want to build on a rock or sand foundation?
