Your Company Name Impacts Your Branding Path

 

When a business is started – or rebranded – perhaps the most essential decision to make first is determining the name. Choosing the right name is vital in setting your company up for success.  The wrong name can pave the path of destruction.  Why is choosing the right name so important for branding and marketing your business?  Check out some of the reasons we tell our clients. 

1.  Brand Recognition

In a world where new businesses keep popping up every day or are adding new services to broaden their reach, it is crucial to have a name that sets your company apart from the rest. The right name can help with brand recognition and make it easier for customers to remember you and find you online.

Strong brand identity starts with a great name. Therefore, you should register a company name (yes, research what names are already taken) that is unique to the world and to what you do. A catchy or clever name can also help with brand recall, which is especially important for small businesses that may not have the budget for traditional advertising.  But just because you think it’s catchy or cool, doesn’t make it so.  Do some market testing – even if it’s just with your friends or close circle.

2.  Helps you Stand out from your Competition

As more entrepreneurs and start-ups enter the competitive landscape, companies must work harder than ever before to stand out from their competitors.  One way to do this is by having a solid branding strategy, which begins with selecting the right company name.

A good company name can also create an authentic connection with customers, leading to loyalty and long-term relationships. Additionally, a good company name can help you attract top talent and investors.

When choosing a company name, make sure it is available as a domain name and trademark. It’s best to have the name of your company (or your slogan) as the URL.  If the domain name isn’t available, don’t get creative with it…get real.  If you’re having trouble choosing a name, consider hiring a branding consultant to help you.

With so much at stake, it’s essential to take the time to choose the right company name for your business. By doing so, you’ll be well on your way to establishing a solid brand that will help you stand out from the competition.

3.  Builds Customer Loyalty Trust

In order for a business to be successful, you have to win and maintain customer trust.  A company’s name is one of the first things customers will judge.  You only get one chance to make a first impression, right?  If your company has a confusing or unprofessional name, customers may not trust you enough to do business with you.

Make sure to choose a name that accurately represents your company, is easy to remember, and sounds professional. By putting thought into this important decision, you can create a successful brand that wins the trust of your customers.

4.  Helps Attract Top Talents

Experts and top talent want to work at a place in which they are proud to share.  It would be great to be recruited as a top-level executive and make great money, but if it’s for a company whose name embarrasses you, is all that money worth it?  Be smart.  Be creative.  Be unique.

Many employees would rather work for a company with an exciting name than a forgettable one. A strong brand and unique name will also help attract investors and partners.  But, don’t overdo it.

If you are looking to rebrand your business, it is also crucial to choose a new name that still accurately represents your company. The last thing you want to go through is changing your company’s name too often or going through the process of rebranding multiple times. Choose wisely!

5.  Attracts New and Returning Clientele

One thing that almost every business owner wants is new (and loyal) customers. A company’s name can play a role in how successful they are at attracting new clientele. A well-chosen company name will help potential clients remember your business and what it does.

In addition, a strategic name can help your business show up on the results page, which can lead more people to your website. Therefore, if you’re looking to increase your customer base, it’s essential to put some thought into choosing the right company name.

A Good Name and a Successful Business Needs a Good Marketing Strategy

Marketing is an integral aspect of any business, yet it can be challenging to get started. There are myriad of marketing channels to navigate and your name can help penetrate each of them in a positive way – with the right strategy.  You need to know your target audience and craft a message that resonates with them. But it all needs to be consistent.  You can’t have a catchy, fun, creative name and have a serious, preachy tone as part of your brand.  It’s confusing to your prospects. Your business name sets the tone.  Your messaging and marketing reiterate it and your delivery confirms it.

A strong brand can help you stand out from the competition. When people think of your company, they should immediately associate it with a specific quality or attribute. By choosing the right name, you can make sure that your company is associated with your authentic qualities. When you pick the right name for your business, you’re not just choosing a moniker to represent your company; you’re also laying the groundwork for an effective marketing strategy.

When choosing a company name, it is essential to consider all aspects of your business. The name should be easy to remember and spell, and it should communicate the type of business you are in.

If you need help creating your company name, brand and strategy, SK Consulting can help!

What is Your Message? Why Do We Care?

How do you describe your business to the world? What words sum up your brand identity and what you have to offer? Are you clearly explaining your business value?

It takes a little time and thought to get your marketing message right, which is why so many small businesses fall back on their “About Us” page or product descriptions to describe what they do and for whom. But, that just speaks to the business itself and not the people you are trying to connect with - your customers.

Getting your marketing, positioning, and brand statements right is an essential step to building your overall business identity.  You need to understand your message – your marketing platform – before you start to actually MARKET your business!

1. Understand Your Target Market and Niche

If you want to connect, you have to know with whom you’re connecting. You need to determine your niche. Ask yourself what you are selling and to whom. Are the benefits of dealing with your business clear and are they aligned with the needs of your target customers? Answering these questions will help you focus your messaging and play to your strengths in that niche. 

2. Research Pain Points, Challenges, Needs and Desires

Every business, product, or service responds to a customer’s pain point: a need, a problem, a desire, or a challenge. How you address these “pain points” is critical to your messaging. For some businesses, like a plumber, for example, these needs seem obvious. Restaurants or retail shops may not be addressing a pain point, but they can design their message to speak to the benefits of shopping or eating at their establishment (fine dining on dime budget, Hollywood style at resale prices).

3. Tell People About your Product - Concisely

Products are a key part of what you do, but they are not everything. Your product or service should only be a small part of your overall message.  Yes, it’s what you bring to your target audience, but you are offering more – customer service, agility, convenience, reliability, experience, etc. So consider all these issues in light of what they mean to your customer. What’s the “so what” factor? What benefit is it to them?

4. Add Proof Points

A proof point backs up what you have to say about your business. Think of it as a “don’t just take our word for it” statement. Proof points include customer quotes, success stories that you write, case studies, and references. They’re important because they show how your business has solved the problems of others. A few words or paragraphs can convey the customer’s challenge, the solution you delivered, and the results they gained.

5. Figure out how you are Different

What makes you unique in your niche and to your target market? You’ve outlined your product and you know your customer, but how are you different from the competition? At SK Consulting, we are not an agency.  Our customers are not clients.  We work WITH them.  We teach as we develop and implement a plan, a project, a message.  Our difference? We want businesses to have control of their own marketing.  We don’t want them to rely on us.  We want them to want us!

6. Decide on a Messaging Platform

What you are aiming for is flexibility. You want to be able to slice and dice your messaging to suit your audience, your collateral, a promotion, or a sales pitch.

A common approach is to create 25-, 50-, and 100-word versions of your message (:15 sec, :30 sec, :60 sec elevator pitches). The shorter version can be used in advertising copy or sound bites in broadcast or online materials. The longer versions give you more flexibility to add specific services, benefits, and value statements, backed up by proof points, about why customers should do business with you.

7. Use Your Messaging Consistently

Once you have your message developed, make sure everyone is singing from the same song sheet, from your sales people to your front desk and across your social media platforms, website and marketing pieces. The more your customers hear it, the more likely it will be to resonate and stick.

If you need help developing your message or are unsure how to market it, contact SK Consulting.  From Concept to Creation to Implementation, we’re there with you every step of the way!

Designing a Marketing Strategy: DIY or Hire the Experts?

For many small business owners, developing a well-planned marketing strategy places them firmly ahead of the competition. However, many businesses fail to establish a fully realized strategy, preferring instead to generate a few well-intentioned ideas they hope will magically come together. Unfortunately, hoping to “fake it until you make it” rarely turns out well, especially if your small business has limited marketing resources.

Applying careful consideration and foresight when developing your small business marketing plan can provide a strategic advantage against your less organized competition.  But, even the best initial marketing strategies typically have one thing in common: They’re not very good.

Finishing a first draft never leaves you with a perfected version of what you’re hoping to create. Sherlock Holmes was originally named Sherrinford Hope in the first draft of Arthur Conan Doyle’s beloved detective series, who was then accompanied on his adventures by the good Dr. Ormond Sacker. (Hope and Sacker sounds like a real estate law firm, especially when compared to the iconic Holmes and Watson.)

Point is, the first draft of your marketing strategy will rarely be perfect. Creating a successful strategy requires taking a step back, identifying your most glaring mistakes and patching those areas to create a more comprehensive plan that actually meets your small business marketing needs.

Here’s what to keep in mind.

Work From Facts, Not Assumptions

In most cases, your initial small business marketing plan will be based on assumptions. While some of these assumptions may be based on experience or even some data, the vast majority of them will be based on what you believe correct rather than concrete information on what will actually benefit your business or its target audience. For example, you might think your customers will like a certain type of campaign (witty, educational, informative or downright crazy) because YOU like that type of thing.

Step outside your bubble!  Don’t assume your potential customers will like something just because you do.  If you’re basing the majority of your marketing plan on pure speculation, rather than data or intuition based on years of experience, your foundation for success becomes highly questionable.

Stay Open to Change

Staying too ridged to your initial marketing plan is a major hurdle many small businesses need to overcome when creating a successful strategy. It’s easy to fall into the trap of placing too much faith in the work you’ve already done and not fully consider what alternative strategies might offer a better return on investment.

Successful small business marketing strategies require constant testing, and a willingness to make changes and optimize wherever possible. While there will be times where the first draft of your marketing campaign will prove successful, don’t be complacent. There’s always room for improvement.

Accept Your Limitations

If you have no experience in the creation or implementation of a marketing strategy, you’re going to have little idea of whether your strategy is actually working. If you did, you wouldn’t be working off the first draft of a marketing strategy. You’d have previous experience to draw upon and data to work with. How can you minimize failure? You have two options: Learn by trial and error or hire a team like SK Consulting to handle your marketing strategy. We have the knowledge and know-how needed to help create, plan and execute a marketing strategy that will enable your business to better connect with your target audience and increase sales.

However, if you’re ready for the challenge and the steep learning curve that comes with creating your own small business marketing campaign, we can walk you through the steps.

SK Consulting wants you to have control of your marketing.  We teach our clients how to develop and implement a strategic, effective marketing plan.  If you need help conceptualizing and promoting your brand, contact us today!