One of the most exciting things for any business owner is to finalize the name of the brand or business. While big business owners have specific guidelines to follow in naming their company, small business owners can afford to be more creative and innovative. Since the first impression is vital in the business world, you must look for a name that helps create a positive first impression. In this article, we will analyze the factors you need to keep in mind while choosing a name for your business.
The Name Must Be Memorable
When choosing a name for your business, you must ask yourself whether the name is memorable. You must also select a name that is suitable for your target audience. To make your business name memorable, try a simple name and keep the word limit to three. A catchy or punchy name can also attract people's attention and make them talk about your business and your brand.
The Name Must Be Original
Your business name must be such that your clients can recognize your business type from the name itself. Always prefer a meaningful business name. While a meaningless name may sound cool, it will cost you much more to build a brand with such a name as a small business owner. A meaningless term would need you to run longer ad campaigns as your customers will have difficulty remembering the phrase and connecting with your products and services. If you are looking for a name for your online business, you must also look for an original name as it will make you stand out from the competition.
The Name Must Not Be Too Descriptive
As mentioned earlier, the company's name must not have more than three words. That is because a longer or a descriptive name can limit business growth. You must also be careful while including geographical areas, terms of products or services, or any age group in the name of your business. As your business grows, there may be an increase in the range of products or services or a change in your target group. This can create confusion in the customer's mind and may even lead to costly rebranding.
The Name Must Sound Good
Sometimes a name may sound perfect on paper, but it may be difficult to pronounce, or its overall sound may not be pleasant. Select a name that is easy on the ears and makes people talk about your company.
The Name Must Be Easy to Spell
You must select a name that is easy to spell and write. If people could write your name correctly and quickly, it would make it very simple for them to remember your name and look for your business online.
Unique from your competitors
If the name of your business Is similar to that of your competitors, especially within the same geographical area, it can be very confusing for your customers. It may also hurt your business. You can also lose customers if the business name is too generic. This happens most frequently during online searches when search engines pick up your generic business name within your competitors' websites. This will ultimately result in your customers moving involuntarily towards your competitor's business, causing your brand to flounder.
The Name Must Emphasize Your Competitive Edge
Before naming your company, you must find out what differentiates you from your competition. Are you providing better customer service or lower costs, or better expertise? You can find this out through a SWOT analysis, and this unique quality of your company should be reflected in your name. Apart from capturing your customers' attention, the name should also encourage them to build a long-lasting relationship with your brand.
Pick A Domain Name Ready Business Name
Ideally, the name of your company and your social media account name should be the same as your domain name. This would make it easier to find your website. However, most of the domain names are already taken, and you would be fortunate if you find a domain name that suits your business and can later become the name of your brand as well. You must also make sure to pick a domain name without any hyphens, as that can complicate your brand name.
Get Feedback on the Name
After selecting a name, ensure you get proper feedback on it. Is your business name suitable for your target audience? Does it deliver the brand image that you want? Does it resonate well with your target audience? These are some questions that you must ask. You may feel that you have found the perfect name, but it could be interpreted differently. Hence you must ensure that you have enough feedback to ensure that the name is received well and fulfills all the necessary criteria.
Apart from following these guidelines, you must ensure that you are happy with the name. Since your brand will be attributed to you, and you will be responsible for carrying it forward, it is important that you are happy and excited about it and that it is something that you believe in and feel proud to be associated with.