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Naming: learn about the different types and see some tips on how to create a brand name

Naming conheça os diferentes tipos e veja algumas dicas de como criar o nome de uma marca

Those who dedicate themselves to understanding a little more about communication processes know that understanding a message comes through different elements. However, it is difficult to point out one that is more important than the name. It is how you introduce yourself, become known and convey ideas when quoted, written or referenced. And in the case of companies it is no different. Understand a little more about naming and check out some tips on how to create a brand name.

Quite simply, naming is the process of creating names for brands, which indirectly includes communicating beyond it. When it doesn't make any sense, people rarely make automatic connections, as in the case of Apple, which is linked to the idea of knowledge. Therefore, we can say that choosing the name is the first, and one of the most important, steps in branding actions.

Read too: What is Branding and why does your company need it?

The process of creating names for companies must take into account legislation and the availability for creating virtual spaces. Breaking laws and committing other acts of bad faith do not bear good fruit and are charged sooner or later. With this, it is necessary to take into account a number of factors to arrive at the ideal name.

Naming is not done overnight.

Among the factors that must be taken into account are the public, concept, objectives, differentials, values, positioning and issues that are intended to be solved. In other words, the naming process is complex. But believe me, it's worth it. Check out the main elements to consider when creating a memorable name for a brand or product.

  • The name must be available;
  • Opt for something short and easy;
  • Think carefully about the meanings of the words;
  • Escape clichés and fads;
  • Affective and personal motivation are interesting, but beware;
  • Evaluate sound and writing;
  • Explore words in other languages.

Read too: Learn what SWOT is, a tool also known as FOFA

How to create a brand name? Know also the types of naming

It's not easy to come up with unique and dynamic ideas to find something that fits the market niche. Get to know the main types of naming, to think of some parallels that can help you in this important task.

● Descriptive: the descriptive name is the one that indicates what the company, product or service is or does. So, when hearing or reading it, people will immediately associate it.
E.g. Bank of Brazil.

● Experience: A brand name can also be chosen because of experience. In this case, it deals with the emotions and expectations provided by the brand.
E.g. the Amazon clothing brand.

● Invented: invented names may not refer to later experiences, but they certainly have their value. They are unique and, over time, gain strength in people's minds.
E.g. Häagen-Dazs.

● Toponymics: toponymic names make direct reference to the place of origin of the company or product.
Ex.: New York Times, Folha de S.Paulo.

● Patronymics: patronymic names, in turn, are based on names of persons.
Ex.: Colgate, Nestlé, Philips, Gillette, Ferrari and many others.

● Compound: already the compound names are the junction of two or more words for its composition.
Ex.: Gatorade is the fusion of the words Gator and Aid, which means “support for the Gators”, as an incentive to the football team of the University of Florida.

● abbreviated: the opposite can also occur, that is, with the abbreviation of another term, but with a unique sound.
Ex.: Intel, which is the shortening of the word “intelligence”.

● Suggestive: suggestive names are those that awaken the idea or memory of something.
Ex.: Antarctica, whose product is usually consumed chilled.

● Acronyms: another very common resource when creating names is a kind of abbreviation, the acronyms.
Ex.: SBT (Brazilian Television System), 3M (Minnesota, Mining and Manufacturing) and LG (Life's Good).

Read too: 9 tips on how to retain your customers

After all, how do you come up with a brand name and how do you know you made the right choice?

Naming is not magic. However, there is a methodology that can help in this task so as not to start from scratch. The first step is the investigation, moment to raise the attributes of the brand, as mission and values, cultural and geographic factors, as well as the target public.

Read too: Learn a little more about the 80/20 rule, also known as the Pareto Principle

The second phase is the brainstorming phase. Promote a dynamic with those involved in the project by making a cloud of words that refer to the idea. Here, there is no need to restrict possible bad choices, the objective is precisely to let creativity flow, so that, then, in the filtering phase, the elimination of what did not work very well is done. Later, in the analysis stage, it is necessary to be a little more careful, answering some questions:

● Is it easy? Your name must be simple to pronounce and write;
● Is it impactful? It must stand out in the eyes of the consumer;
● Is it expressive? Another crucial naming factor is representing the purpose of the brand;
● Is it unique? It is essential to differentiate you from the competition;
● Is it memorable? The name should ring like a gong in the consumer's mind;
● Is it pleasant? The appearance of the name should also appeal to the audience;
● Is it available? Is the domain (URL) and top profiles available?;
● Is it traceable? Your brand must be found by people in the digital environment;
● Is it versatile? See if the name can be used elsewhere in the world, if there is interest in expansion.

Read too: Know what Performance Marketing is

Before putting the tips on how to create a brand name into practice, consider partnering with a communication agency.

Throughout this article, it is possible to observe that choosing a name for the brand is not a very simple task, as it involves several tests, application of techniques, in addition to all the bureaucratic part. Therefore, having a specialized and experienced team in this process can speed up a lot of things, in addition to ensuring that everything is being done in accordance with Brazilian legislation.

Last but not least, a communication agency or an internal team focused on the area will make all the difference for the construction of the visual identity, creation of social media with that name, as well as medium and long-term planning of marketing actions. , either online or offline campaigns, feasible with the budget available for such actions.

Alliance Comunicação has been in the market for over 10 years, offering the best solutions in the area to its customers, including Branding Management. Click here to learn more.

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What is Lifetime Value (LTV) and why apply this concept to your brand?

O que é Lifetime Value (LTV) e por que aplicar esse conceito na sua marca

Lifetime value (LTV) is a very simple concept. This is the total amount of profit or revenue – it is up to the company to determine which variable is most important to work on its strategies – obtained from a single customer during its entire lifetime. That is, a specific customer who buys your products annually will have a higher LTV than someone who buys every two years.

Read too: What is Branding and why does your company need it?

Why is Lifetime Value important?

It's important to have your customer's lifetime value at the tip of your pencil for very simple and practical reasons. First, because the cost of attracting a new customer can be five to seven times higher than that of keeping a loyal one, as pointed out by marketing theorist Philip Kotler in the late 1990s.

Another reason is that the probability of selling to an existing customer is 60 – 70% higher, as the article says Don't Get Lazy About Your Client Relationships published in Forbes, which cites data from the book Marketing Metrics. In contrast, the chances of selling to someone who has never used your product and/or service are 5 to 20%. In addition, existing customers are more willing to try new products compared to the public that does not consume your brand. There are estimates that point up to 50% more prone.

Read too: Better understand the difference between Target Audience and Persona

How to increase my client's Lifetime Value?

To increase your customer's LTV, you need to know them better than anyone else. That is, knowing your desires, needs, socioeconomic position, where you live and the entire booklet of your persona and/or target audience. What's more, hearing opinions about your product is essential to grow as a brand and gain competitiveness in the market.

By making a careful assessment of the answers obtained, the brand's strategic decisions will have a technical-numerical basis, which will actually serve the customer and will have many more chances of retaining him. After all, with the exception of price issues, nobody switches brands if they are fully satisfied with what is being offered.

Read too: Local Marketing: check out some tips that can help your business

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How to apply International Marketing concepts in the Brazilian market

Como aplicar conceitos de Marketing Internacional no mercado brasileiro

Every company has ever thought of selling its products and services outside Brazil, either for strategic reasons or even for financial growth purposes.

Today, Brazil's main export partners are China, the United States, Argentina and the Netherlands (Holland). In the case of the latter, we can analyze it more broadly, since the largest port in Europe is in Rotterdam. Without a doubt, commodities represent a large share of national exports, but an interesting fact that few people know is that micro and small companies are responsible for 40% of exports. This volume of products, however, when translated into monetary value, represents only 5% of market share. The major export center in Brazil is the southeast region, led by São Paulo, Minas Gerais and Rio de Janeiro. Out of this axis, Rio Grande do Sul stands out.

This internationalization usually takes place through some means, whether directly or indirectly: exports, licensing, franchising, consortia, joint ventures, acquisitions and strategic alliances. Each of these actions has a different degree of commitment, complexity and risks.

Without a doubt, one of the biggest challenges for a brand in the internationalization process is marketing. Often, companies start exporting to countries where they think entry will be easier, whether due to language, distance or any element that makes that country something more familiar to those who are exporting. But what many companies don't ask themselves is whether people in that country need their product, or even if they should make some adjustments to the product or the way they communicate about it.

Many of these ventured without a minimum study of the country they are entering. Some work out, some don't. Citing the case of China Inbox, a successful franchise that needs no introduction. When the company tried to plant its flag in Argentine lands, it did not have any kind of concern, it simply advanced and assembled its units. But what they didn't have in mind is that the Argentine public has a totally different habit from the Brazilian one – they have lunch and dinner much later than us, for example – not to mention that meals are always accompanied by a good wine. These habits, different from ours, had a consequence: when the Argentines were going out to dinner, the restaurant was almost closing, and even when they found it open, they didn't have an alcoholic beverage (wine) to drink. Result: bankruptcy of the units.

This shows that, no matter the size of the company or the degree of maturity, if it does not adapt to the market, if it does not try to understand what the people in that region really need, the probability of something going wrong is great.

Now place yourself, look at the size of the country we live in, of continental dimensions, states larger than many countries. A multicultural Brazil, a world of different ethnicities within a single place. Before trying to introduce your product to another market, you should ask yourself several questions.

Should I introduce the same product or do I need to make adjustments?

Should I adapt or standardize my communication?

Mixed, multiple or umbrella brand?

The biggest challenges for your company to sell nationally are the same as a company that wants to sell to another country: geographic, cultural and psychological.

1.1 Geographic – should be one of the easiest points, however, taxes and logistical problems in Brazil make it something more complex.

1.2 Cultural – this is certainly one of the biggest challenges and deserves a more technical analysis. A study by Geert Hofstede, which ended up becoming a book later, deals deeply with these “cultural dimensions”. Power distance, individualism versus collectivism, masculinity versus femininity, uncertainty avoidance, and long-term versus short-term orientation.

1.2.1 Distance from power – this factor itself exemplifies how society reacts to inequalities. This directly implies how a boss should deal with an employee, how a salesperson should act with the customer. Where people are more likely to accept such inequality, the easier they will accept hierarchical levels.

1.2.2 – Individualism versus collectivism – how these people act and how they are interconnected. Should I put individual goals or should I add collective goals for the team. Should I present advertisements with friendship and companionship?

1.2.3 – Masculinity versus femininity – it is worth emphasizing that this concept was developed in the late 1980s and early 1990s. The best-used translation would be “money versus values”. Are my employees more interested in earnings or benefits? Do my customers prefer a lower price or a value-added product?

1.2.4 – Aversion to uncertainty –  how much people are willing to take risks in their lives. Is this new wave of Start-ups not showing a new reality? Do these new generations have something to tell us?

1.2.5 – Long-term versus short-term orientation – here in Brazil short term is the rule. But since they are internationalization challenges, think about how a Japanese and a Brazilian company acts. Ask yourself this question, and understand how alliances and partnerships are made.  

2.3 Psychic – in short: psychic distance results from the perception and understanding of the existence of cultural and business differences between them. Here, returning to the beginning of the text where I commented that companies generally export to countries where they have more identification, but these decision-making can be due to environmental, individual or relationship factors.

Do research! Today the digital revolution and globalization have brought us more cost-effective means of getting more relevant data. Use them wisely in your decision making.

Think globally, act locally.

Renato Vincoletto Chief Creative Officer (CCO) at Alliance Comunicação. Graduated in Digital Communication, post-graduated in Advertising Creation, Master of Business Administration (MBA) in Marketing from USP. I have been in the Communication market for over 15 years, in which I have worked in several segments, with experience in directing and creating projects and campaigns, directing marketing and branding.