You have a great idea for a business or are looking at refreshing your existing branding…so how do you go about developing your brand?
Firstly, your company name. Is it memorable, easy to say, does it have meaning? Does it allow for company growth in the future?
If your strategy is centred on offering new products or services to the same industry, in which you are well recognized, then it does not make sense to change your company name.
But if you are looking to enter new markets and the name is restrictive in this growth, then take a look at what you can do. Sometimes it might not need a complete change; perhaps you can use an abbreviation, or change what your current abbreviation stands for?
If you decide a complete name change is in order, you can retain some elements of your previous branding in the colours and fonts used in the new designs, so as not to alienate existing customers.
Secondly, look at your tagline. Does it tell your customers what you do in a simple way? It is unique? How does it differentiate you from a competitor? Does it evoke an emotional response from your customers?
There are many companies who do not have taglines and they are missing an opportunity to give customers that little bit of additional important information.
If your company name does not say what you do, then the tagline can do this job. For example:
Bob Smith Ltd.
For all your printing needs.
If you have a self-explanatory company name, then let your tagline promote your USP. For example:
Bob Smith Printing.
One of the best uses of a tagline is to show your customers how your product/service will benefit them. For example:
Quench your thirst.
Finally, your short company description. This is the type of description that might sit on a web page, or on the back of a brochure, or on a social media account. Be short and succinct, but include the what, when, who, why and how of your business. And most importantly, remember who your customers are and what you want to say that will benefit them.
Overall, make sure your name, tagline and company description all fit in with your brand values, personality, vision and proposition and give a clear, consistent message.