Gone are the days of naming somewhere xx Park, when there is no park nearby or xx Lake when it’s nowhere near any water. Savvy property developers are working alongside strategic branding agencies to create meaningful identities for sites that will last.
Creating a name and identity for the area which resonates with everyone – including local residents and businesses – is now a vital component in any successful development. But how do you go about branding a new development and creating a name which will help to tell its story positively?
Here are our top factors to consider:
1. Think strategically
Naming a new development as part of the overall branding process requires a strategic approach with a lot of thought behind it.
The name can impact on the perception of the area and have a strong influence on how people view it now, and in the future, so it needs to be a planned, business-focussed decision.
Property developers ideally need to work with specialist property development branding agencies – like us here at Frost Creative – to help support them in this very important aspect of the overall project.
2. Identify the audience
Think about the development – who is it going to be for ultimately? Is it a corporate development or residential? It’s vital to clearly identify the target audience before you pick a name, so that you can make sure your choice resonates with them.
An agency will work with test audiences, to try out different names as part of a market research process, meaning your final chosen name will have been through a process to assess response and perception among your target audience before it is agreed upon finally.
3. Look at the area’s heritage
When coming up with a name for a new development it’s important to connect or link it to the local area so have a look at the history of the site – what used to be there? What do people associate the plot of land with?
You might find some interesting stories if you go back far enough, which can then be repurposed to create a new identity which helps to anchor the development within the local community.
4. Think about public perception of the site
One of the aspects which developers commonly come across is local people and businesses objecting to the site. Creating a name which they can relate to, along with an identity which invokes a sense of community can really help to improve public perception.
5. Avoid trends
While many industries will turn to trends and fashions for names, property development is one area where you don’t want to do that. Property will be around for hundreds of years to come, hopefully, so you should never pick a name or brand identity and design that will become dated very quickly.
A property development name should help to link the development with the local area and demonstrate to the local community that thought has gone into the identity and brand for the new buildings.
If you would like any help with strategic property development brand identity, please do give us a call at Frost Creative.