Professional Community for Car Dealers, Marketing, Advertising and Sales Leaders
Picking your brand name is the first step in establishing your company’s reputation. It helps show people what to expect from you. A good reputation means people will naturally want to connect with you and do business with you without having to put as much thought into the decision making process. That’s not to say that if you do bad work you can cover it up. With social media and Internet reviews, people are able to quickly figure out if you are who you say you are. Seth Godin smartly stated, “It’s logical, then, to care about how your reputation is formed. But it’s dangerous, I think, to decide that it’s worth spending a lot of time gaming the system, to consistently work hard to make your reputation better than you actually are.” If you build up a reputation that is too good to be true, you’ll ultimately let people down and your reputation will self-correct to its proper negative level.
There’s a lot on the line here.
Assuming we’re building our reputation properly and trying to build a brand name that reflects it, picking the right one can do immense good. Getting your brand name right from get-go gives you a chance to show you’re different, which is extremely beneficial in today’s media-saturated world. If you pick a name that doesn’t stand out from the crowd you’ll be thrown into a person’s mental garbage bin with all the other uninteresting, unmemorable companies.
If you’re like most people running a company or in charge of its marketing, you have limited time and resources to attract your ideal customers. Obviously, you want to make sure every second, dollar, and cent you spend on your brand name empowers it to break through the noise created by your competitors.
There are three ways you can make a first impression.
You can make no impression, a bad impression, or a good impression.
Everyone knows you don’t want to make a bad impression. Why else would most Americans cite public speaking as their number one fear? Everything in life and business gets harder when you’re starting with a bad impression. You’re behind the curve. You have to spend more time and energy than your competition to convince your potential customers to the contrary. Nobody wants to get ripped off and the research is clear, people fear loss way more than the potential of gaining something valuable. If people think you’re a bad actor, they’re going to avoid you like the plague.
Only marginally better than making a bad impression, you can make no impression. In a personal situation, you might not have to worry about this as much since you may not have as much on the line. In a business situation, this is an absolute nightmare because it means you spent blood, sweat, and tears (a stack of cash) on a marketing campaign, executed, and then patiently waited while zero results came your way. For many entrepreneurs and business owners in this situation, it spells g-a-m-e o-v-e-r.
Read the entire article here: More...