This thread comes as somewhat of a 'step 3' after getting started in affiliate marketing and picking a niche. If you decide to create a website and monetize it you'll need to establish a brand and website.
What is a brand name?
A brand name is memorable. That's all you really need to takeaway. Walmart, Apple, Target, wicked fire, Unicorn smasher, Acorns.
What am I encouraging you *not* to do? I want to discourage everyone from registering ExactMatchDomainLongKeyword.com etc.
Relevance and picking a name
Brand names do not have to be relevant to the company. Apple - they make computers. The Mac (Macintosh) has nothing to do with a specific type of apple. But you remember it, right? Windows makes more sense when you know what their interface does. But even then, to the completely uneducated consumer, windows doesn't make sense (if they know what a house is). This is my opinion, but your brand name doesn't even need to be relevant to your product or service, as long as your name is memorable. Its also my opinion that if you can manage it, your brand name should attempt to remind a consumer of what you do.
You should already know this, but any huge company has a brand name. Big brands normally own the web address to their brand name. However, some places don't, especially new start-ups. Its really great to have the exact .com domain for a brand name, but its not the absolute end of the world. Look at all of the new .io startup companies. Soup and Draw have established brand names without needing the .com. Don't throw away your amazing name because the .com isn't available. But try to get close.
Advertising with a brand name
With a brand name, you don't have to include a link every time. Let's say I want to get into YouTube comment marketing because most of the spammers have gone other places since YouTube recognizes most attempts at dropping a link. If I have an established brand name like Fapple I can just say "Fapple " instead of FAP Porn - Time to FAP! Free XXX Videos.
Context is important. If I own Fapple I might comment on a YouTube video of a Windows laptop unboxing and say, "I checked your other videos and you haven't done an unboxing of Fapple?" As simple as that, and people are going to be wondering what the hell is Fapple and when did they start making... uhh... computers? And then they are going to look it up. Of course, you're going to need to show up in Google for your own name...
Brand names gain recognition. Brand names automatically start generating word-of-mouth-traffic. We talk about Fapples and iPhones. Let's forget about Fapple for a second and pretend you offer a software as a service (SaaS). Instead of people searching for the SaaS keyword (cloud storage for photos) they bypass that and search for a brand name (Dropbox, Drive, etc). A brand name will separate you as a name in a niche instead of a Google result.
Hopefully you can see how many doors this starts opening up.
Its easier to get backlinks. If you look like an authority people will *want* to link to you. Extreme example, but people have no hesitation linking to Wikipedia or Webmd or Moz. People do have a hesitation linking to randomdomain.com
People don't assume you're self promoting 15 year-old. People can tell a mile away who is trying to promote their website. You can start to get away from that image if you have a brand.
Faking it till you make it