What I'm talking about is brand names that don't make sense... sound familiar?
It seems like nowadays brand names are just plucked out of thin air, in hopes the luck gods will help take their brand off the ground.
Plum, Acorn, Bean, Raisin, Coconut, Cleo, Tide... You get the picture. Many seem to aim toward fruit or food with no relation of their product, service, ethos or audience, only to come across as a little bit "edgy". Perhaps they are trying to follow suit from the powerhouse that is 'Apple'.
It's now becoming a trend and trends are not good for brand identities as trends phase out, often pretty quickly and as a result, so will your business.
Fintech Brand Identities
In such a rapidly growing, competitive industry that requires incredible trust from consumers and where many start-ups are forming you will NEED a differentiating, authentic brand and identity. Don't fall into the trend trap.
In business, copying will only get you so far, and never to the top. It's an extremely poor strategy that leads to failure. To disrupt you need to stand out among the rest and getting your brand right in the first place will form the healthy building blocks to maximise your marketing efforts and success.
Good communication and messaging is key as it changes purchasing behaviour and decision making. Perception also plays a huge role, especially in this kind of industry. We have a great power called words, and with words we can influence perception, create expression, socially engineer people and define a personality.
I'd like to draw your attention to Mohammed Qahtani's speech 'The Power of Words', which principles can be applied to branding:
Rebranding & Change
Don't be scared of change, if you feel as though your brand is trapped, dull or the same as everybody else and that marketing efforts are not paying off it might be time to evaluate your brand.
We have seen businesses flop as a direct result of a poor brand. We have also seen and been involved with amazing successes and turnarounds as a result of building a brand properly.
If you're looking for some advice regarding brand, get in touch with us, we've been brand development specialists for decades and understand what it takes to make your business as effective as possible.