It can be easy to overlook the importance of a good brand name, but having one is essential for your business's success. A great brand name is more than just an eye-catching logo –– it's the foundation of your business's identity and the way that people will remember you.

You need to take the time and craft a great brand name. Take a look at four key elements you should keep in mind when creating one. 

Memorability

Your brand name needs to stand out among all of the other companies vying for attention. To make sure yours does, think about how memorable your name is. Is it catchy? Does it roll off the tongue easily? Is it unique enough to set your business apart from similar ones?

The more memorable your brand name is, the better chance you have at standing out from the crowd and making an impact on potential customers.

In some cases, it helps to come up with something witty or humorous to make your name more appealing and memorable for your target audience. For instance, a business that sells pet supplies could call itself "Furrever Young," something that pet owners can actually relate to and remember.

Understandable

When someone sees or hears your brand name, they should be able to understand what it means and why it matters. Your audience should be able to quickly identify what service or product your company provides just by looking at its name.

If they don't understand what you do based on your company's name, then it won't leave a lasting impression on them, so make sure that understanding comes through loud and clear. Don't overcomplicate the name, no matter how clever it might be.

Relevant

Your brand should connect with potential customers in some meaningful way. Whether that connection comes from using words related to the industry you serve or drawing inspiration from current trends, if there isn't something relevant about your company's branding, then there won't be anything for people to latch onto when thinking about your business.

Relevance helps increase the chances of your brand resonating with people, which is key to building a strong customer base. But it isn't always easy to make your brand relevant, so be sure to do research on what's popular in the industry and how you can best reflect those trends.

Easy To Spell and Pronounce

Nothing can ruin a good impression faster than misspelling or mispronouncing a brand name — and unfortunately, this happens more often than not when names are too complex or difficult for people to spell correctly without double-checking.

Make sure that spelling and pronunciation are both straightforward so that people can easily recall and talk about your company without any hiccups. You want people to remember your brand name, not the struggle they went through trying to say or spell it.

Crafting an effective brand name requires research and analysis, but taking the time to do this correctly will pay off in increased visibility and recognition amongst prospective customers down the line.

Find out more about product name research.