Let’s face it, your brand journey begins the day that idea came floating in your head from somewhere, and much before your product or service took a form. In other words, to brand or not is not a decision you as the business owner or founder have a choice to make about. The brand comes with the product and is the face of the product to the customer. So, postponement of brand-related decisions is not a great business strategy, as far as brand is concerned. Many passionate innovators assume they can ‘soft launch’ their product, test the waters with the initial feedback, and then spend time building brand. Tchchchch..
Recently, I met an innovator who is working on creating an ultra-low-cost wind turbine for domestic consumers. He is targetting the mass market in regions of India that have high wind flow on a given day. Great idea, potentially big market, but once I learned the brand name under which they want to market, I realized a major problem. The name chosen was a great scientific name, but (1) the target group(potential buyers) would have found it extremely hard to read or pronounce it, and; (2) the name stood for as nothing to the target group as Dhinchakmari does to you and me as a healthcare brand.
Imagine the additional gradient the brand would have to climb to become familiar to customers! And imagine the number of times a customer inquiry would not reach this company because the email id was mistyped. And imagine the number of times a potential customer would give up trying to reach your website. Such ill-considered brand choices can be easily ignored in the initial exuberance but turn out to be very costly in the long run. In other words, your brand choices have to be dealt with from the idea stage. A well thought out brand name can communicate the brand promise significantly better This name would have never survived a structured name development process, where such issues are spotted and addressed.