Brand Naming for Startups… not exactly what you think

[et_pb_section bb_built=”1″ admin_label=”section” _builder_version=”3.0.47″][et_pb_row admin_label=”row” _builder_version=”3.0.48″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.17.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”] Working with startups is fascinating, and whether it’s a tech company or a craft brewer, the issues are the same. The names they develop often are sometimes random, connected to personal interests and what they believe push value for their company or even more often already being used by another company. As startups grow and become real companies it’s important to recognize that the name becomes everything in terms of recognition, differentiation, and customer connection. Ultimately it shapes the story of the brand. The key is being recognizable and relevant to your market – and building a great story  Yes, it’s possible to come up with crazy or unusual names that stand out or names that are kind of short on meaning but are memorable because they’re so unique. The key is really understanding how your name and brand work together in conveying not only what your company does, but also portraying the unique and compelling brand story that connects to your customers. Think of Dropbox, the perfect name for what they do Successful names from fast-growing brands establish great connections that build value because of the customers who use them. When DropBox got going they shared a quirky video with a small group of folks and hoped that the incentive of 250 megabytes of free storage would entice a few thousand followers to download the app. They had way more than the projected 5,000 downloads—they had 75,000! The company took off and mostly grew by having a simple name and easy to understand concept. The name, the simplicity of what it did and the value of customer loyalty did everything for them. They now have an $8 billion valuation. Look at how simple their mission is – The mission of Dropbox is to simplify life for people around the world. Dropbox lets people bring their docs, photos, and videos everywhere and share them easily.
Fieldwork – A brewer who built their story about what goes into creating great craft beer Fieldwork Brewery in Berkeley is an amazing company on the top fastest-growing companies list of Inc. magazine.  We had the opportunity to work with them in developing a short video that really told their story and made their brand and name mean something, not just for them but for the restaurants and taprooms that put them on tap and the loyal customers who visit them and pre-order beers to take home. When I met Barry Braden and Alex Tweet I didn’t understand the name but it became self-evident once I experienced their brewery in Berkeley. Their focus on taste and flavor.  By the time we produced the video, it conveyed everything about the brand. Barry and Alex, the co-founders, are committed to creating unique, flavorful and game-changing beers in the craft industry. This has pushed them in creating over 200 different beers since they opened. Barry is also committed to wildlife and wolf restoration, which takes lots of fieldwork and commitment. These stories really bring the beer to life. With their main brewery in Berkeley, they now have five satellite taprooms throughout Northern California.
 
Creating a name that grows with your brand
1. Know your customers, funders, and partners  2. Build your story and convey it online, in videos, in all communications 3. Remember the psychology of connections and meaning  4. Stand out from the crowd yet don’t confuse the market  5. Say what you do somewhere in your name (or tagline)  6. Have iconic recognition as you build your brand story in the market  7. Be nimble and simplify your brand  8. Keep everyone in the organization on-brand with the story These become simple and clear strategies that build your value and recognition for both consumer brands, technology, and medical device brands. Remember, it’s about who you’re talking to and what they already know. You’re selling them something that brings an understandable connection and solution to their needs. [/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]