There are important business steps that any new business entrepreneur must take, and one NOT to miss is branding! Hello everyone, I’m Carl Rioux and today we will be talking about the importance of branding your business correctly and what it means for your domain name.
First, let’s start by talking about brand names. A brand name is a word, name, symbol, etc., esp. one legally registered as a trademark, used by a manufacturer or merchant to identify its products distinctively from others of the same type and usually prominently displayed on its goods, in advertising, etc. Now I would add to this definition by saying it’s a way to stand out in the crowd by waving your hands back and forth saying “hello world, here I am and you know exactly what I’m here to do because you’ve seen me before!” According to BrandZ 100, the top 3 brands are…Google, Microsoft, and a major red and white pop which I’m sure all of you know. Now this varies by region, for instance, in Asia it is China Mobile, ICBC, and Toyota that take the lead and in Europe it is Nokia, BMW, and SAP that get the top honors. Regardless of where you are in the world or what business you run, you MUST have a brand name and MUST make sure it is consistent and recognizable! Here are steps that will ensure your branding success:
STEP 1 – ANALYSE YOUR BRANDING IMPACT
As you start your new business or restructuring an existing one, you must first think of the brand and the impact it has (will have) on your products and services and you need to ensure your domain is available. For example, if you run a French cuisine restaurant, you may want to name the restaurant “Le Parisian”, but does that represent your restaurant? Will the food only be French? Will it only be traditional food from Paris or France? Will it have a European feeling? If so, then great…if not, then maybe thinking of a business name with a broader representation of your restaurant would benefit you and your clientele. Then there’s getting your website domain name so that it correctly represents your business. You would not want to have a domain name ” thefrenchrestaurant” when you are “Le Parisian”. So the best option for this dilemma is to try to get the domain name at the same time as your business name, and if either one is unavailable then keep searching until the perfect match is made. For some of you that are searching for a domain and you see that it is for sell (auction), you need to consider purchasing this “for sale” domain as it could have more value to you then the actual ticket price. Having a domain name that matches your business name is the best way to get brand recognition both on the streets and online.
STEP 2 – THE RIGHT LOGO
Once you have selected and confirmed your business name and domain, you must now design the right logo. Your business logo needs to be professional, simple, recognizable, memorable, and must appeal to all genders and race. Finding the right logo is very complex and you must take your time before making your final choice. Some corporations spend millions analyzing the impacts of their corporate logos and their return on investment (ROI). Will the income generated by the recognition offset the cost of changing/creating the logo? What will this logo represent and how will the consumers relate/react to it? Are the colors right? Is it the right message? Is it the right size? These are crucial questions you must ask yourself when in the process of creating your logo. Remember, once you implement this logo, it will be your heart and soul. You will incorporate it on your website, stationary, banners, promotional material, signs, company cars, etc…so changing the logo once implemented is VERY expensive.
As you can see, the branding of your business is something that must be taken very seriously as the impacts (good or bad) will follow you for a long time.