Business consultant Josh Cote believes we don’t choose names for our businesses, instead we choose identities for entire brands. It is because of this that he believes masses of time should be spent meticulously scrutinising the naming process, as it has the ability to change a business forever.
Over the course of the last 17 years Mr. Cote has witnessed a plethora of both good and bad decision-making when the time has come for a new business to choose its name. The EAW Consulting owner wants businesses to acknowledge the long-term repercussions from rushing this stage, as he believes that choosing the right name for a business plays a colossal role in the weeks, months, years that follow when it comes to brand growth and perception.
“Choosing the name for a business may initially appear as a light-hearted endeavour, but it is actually a vital cog in the process for setting up the entire brand for success,” claims Josh Cote.
Both in business and in personal spheres of life, entire relationships are dictated by first impressions. The first thing a client or consumer interacts with is a name or logo, so it has to convey the intended message. Indeed, from a marketer’s perspective a brand name sets the scene, informs the intended market, and defines the overall business. In addition, Mr. Cote believes a brand name gives clients and customers a sense of expectation – an idea of what to expect. If the reality of a brand does not match up to their expectations, then they are going to feel negatively towards the brand.
“Consumers become accustomed to circumstances and conditions in which they exist. It is part of human nature, and even survival instinct, to pigeonhole people and brands in categories that match up to previous experiences or encounters,” states Josh Cote.
It is evident that a brand’s name plays a vital role in formulating this intangible brand perception, and the EAW Consulting owner warns that once a brand becomes established in people’s minds, it’s almost impossible for it to change. Josh Cote believes a good brand name will communicate a variety of different emotional appeals, while establishing a positioning and presence as a leader within their industry.