Choosing the right name for your business or new product or service is incredibly important. According to a recent survey on brand awareness, 53 percent of consumers reported that the popularity of a brand name definitely affects their decisions when making purchases. A great name can make you more money, while a bad one can actually decrease the value of your company.
According to Alexandra Watkins, chief innovation officer of San Francisco-based naming firm Eat My Words, and author of the book Hello My Name Is Awesome: How to Create Brand Names That Stick, there are 7 deadly sins to avoid when selecting a name for your business or a new product or service.
Says Alexandra, "When you're starting out with a blank slate, don't curse your name with any disadvantages. Every time you have to help people spell, pronounce, and understand your name, you are essentially apologizing for it, which devalues your brand."
And no one can afford a brand that actually loses value instead of creating it.
Here are Alexandra's 7 deadly sins, which just happen to go by the acronym SCRATCH.
Via Brian Yanish - MarketingHits.com