The current business model for success starts with understanding a company’s audience and branding. Audience is key to developing a brand, a proposal for success, and defining what marketing tools will help business growth and recognition. When starting a company, one of the first things to do is pick a name. A name is what people will say in reference to employees and leaders within the company. The name must be recognizable, catchy, and able to easily align with brand standards. Names are crucial in success of a business, especially a business ran solely through a website or digital platform. With a plethora of web information available to consumers, it’s easy to get lost behind the heavily advertised companies who allocate funds to make sure their website is at the top of the list in any search engine.
Having a proper business proposal before starting the creative process is highly important to ensuring the financial success of a company, but branding is just as important. Once a substantial understanding of the economics of the company is laid out, the creative process can begin. Although the product may sell well, having a positive and recognizable brand for a company is equally as important to creating profits and a loyal community of consumer followers.
A brand is simply a reputation. Consumers have their own personal brands in their own lives, from the way they carry themselves professionally, personally, and on social media. It’s the same for companies. A company reputation/brand is vital to the success and growth because without a positive scope on the company, consumers will not want to engage with a brand if they have a negative reputation or brand recognition. With so many brands and companies for consumers to pick from, they won’t hesitate to switch brands. In the consumer buying process, there are many things a consumer thinks of when deciding to purchase a product or service. Positive brand reviews, excellent customer service, and feeling no post-purchase remorse are all highly important things to consumers. If these things are not explained in the branding itself, a company may find it hard to actually build a positive brand with loyal customers. Business models are no longer based on the idea that consumers will buy products just because they are considered brand equity, but that they make purchase decisions based on morals, ethics, and company values as well. These are things to consider when developing a proper brand and voice.
With a company voice, it’s a crucial part of a brand. It’s how consumers recognize broadcast commercials, billboards, print advertisements and online company posting engagements. The brand voice should remain consistent across all platforms to create that sense of voice recognition along with the company name.
Often, we hear entrepreneurs complain about the lengthy and expensive process of picking the perfect name. Realizing there is a need to solve this common pain point, BrandBucket offers off-the-shelf business names available for sale. Branding companies who specialize in naming go through an extensive process of market study, consumer behavior and focus groups that end up costing a startup more than it can handle. BrandBucket offers an alternative that is now becoming more acceptable to entrepreneurs. Their linguist experts have identified specific characteristics that make a brand name unique and memorable, a term they coined as brandable. They offer business names with keywords for specific industries or invented names that evoke a feeling. Brands that short, pronounceable, have few syllables and overall creative have grown to be household names, and startups want the same for their new venture to grow into a brand name as well.
With such a unique process for selecting name and a matching domain name, Founder and CEO of BrandBucket Margot Bushnaq said, “A few years ago, my husband and I realized we were sitting on some really great domain names that we would probably not use. So we created some custom logos to go along with each name and put them up for sale. Years later we’re seeing success in helping startups from all over the world find the perfect brand name.
Even this type of business thinking helped BrandBucket develop a positive brand for themselves. It’s not just about picking a name for just a company anymore, with a digital focus switching up the way companies market to consumers, it’s important to pick a domain name that will top the search bar engines and learn how to allocate funds for advertising that will ultimately build ad revenue. Finding that unique domain or URL is important when consumers search for a company online. Consumers communicate not only with themselves, but with brands too on digital platforms. Living in the digital age, some marketers argue that digital communication is one of the main ways people are communicating now. If brands can learn digital communication with a positive and recognizable brand on and offline, then they will foster a successful environment within the business.