Proprietary Brand naming is an arduous and complicated task, encompassing continuous research, countless brainstorming sessions, extensive strategizing, in-depth legal screening, and thorough regulatory testing. This is where an agency partner can be a true asset to any pharmaceutical Company looking to begin branding a new compound.
In addition to the obvious benefits of hiring a creative agency for Brand development – creative expertise and full-time, prioritized engagement on the naming – it is important to select an agency that understands the unique pit-falls and strategies that are present in the pharmaceutical space. It is the in-depth knowledge of this space that allows for an agency to define specific opportunities for a new compound; whether it is identifying specific letters that are underrepresented by the competitive market or determining if the name should communicate the mechanism-of-action or emotional appeal based on the target audiences. These careful considerations are what sets a world-class pharmaceutical Brand apart from an ordinary one.
While an understanding of the space will mitigate the risk of rejection – not to mention preserving both time and budgets – it also lays the ground work for targeted and effective creative. When a Company can provide prioritized product details, specifically the ones that differentiates it, to an agency and allow them to define a strategic creative direction, it provides the opportunity for all parties involved to agree on that direction prior to name development. A Company’s understanding of their own compound combined with an agency’s creative expertise is the kind of collaboration that provides Brand names that resonate with target audiences and drives ultimate Brand success.
Lastly, an agency working solely on the proprietary naming of the compound has the ability to assess hundreds of names for association with traits, memorability, favorability, and how well it aligns with the overall creative concept. While the agency may only present increasingly targeted lists of 25-30 names at a time, their clients can be confident in those lists because they have already been rigorously vetted prior their presentation. Not only should the agency vet these names for their creative appeal, but they should also utilize their understanding of the legal and regulatory complexities surrounding the naming of pharmaceutical compounds as a guide in their creative process as well. Knowing how to avoid names that are overly promotional or that contain overly-crowded word parts, for example, means that their clients aren’t risking disappointment or lost opportunity down the line by submitting names for regulatory approval that should have been eliminated much earlier in the naming process.
An efficacious agency partnership is crucial to a successful proprietary Brand name launch, and choosing the right agency partner is no easy task. Having an understanding of their process from start to finish, as well as what makes their branding projects successful is crucial in making that choice.