Many business owners have trouble naming their company mostly because they have spent a lot of creativity on products, marketing strategies and the like but also because they don’t want to mess up this important task.
The first impression your company leaves with its name may be crucial in some business cooperation so you need to make sure you opted for a name which will serve your company well.
With that in mind, here are a few tips to consider when choosing a name for your business.
How to Choose a Company Name and Logo For Business
Go for something memorable
The reason behind this is quite simple – if your intent is to start a business which will grow and last, you need to have a memorable name.
Of course, you would wish for people to recognize your products and services but a catchy name goes a long way in attracting customers.
If anything, it can boost the traffic to your website after which it is up to different strategies to influence conversion rates.
A name which is recognizable is easily spread with any communication channels, including word of mouth, so setting aside time to brainstorm adequate names will definitely not be a waste of time.
Avoid obscure names
Originality is one thing while being obscure is something completely different.
Statistics show that 72% percent of successful brands’ names are made-up words which means that creativity should be the key ingredient to your name choosing strategy.
No matter how distinctive you wish your name to be, it is vital you don’t try to make up a name that is too obscure.
Instead of captivating the audience’s attention, they will not even try to get to the gist of the name, and that quest would presumably be the intention behind such a name.
The name should be unusual enough to stimulate curiosity but also simple enough to be understandable.
Check its availability
The name you opted for may sound memorable for a reason – you might have been subconsciously inspired by an existing name.
Since numerous brands are being created each day, it is realistic to expect that someone from your niche will have a similar line of thinking.
Besides, choosing the name and checking its availability is the first step when you register a company online but luckily that could be done hassle-free through a company name search app.
Online registration also saves time since from choosing a name to starting to trade it takes around 15 minutes.
When it comes to company names, originality and availability go hand in hand, so doing this checkup will come naturally.
Take scalability into account
Times change and ideas evolve and you have to allow yourself the possibility that you will perhaps make some changes to your business.
You might add unique products, move your location or completely change the way you operate. Your business structure needs to be flexible enough to accept change in these volatile times but so does your company name.
Imagine incorporating something culturally connected to your country in your company name and then deciding to spread abroad where that name will be neither memorable nor understandable.
The name would lose its charm and you would have to go by one name in your country and to think of another for your foreign market.
Think about practicality
Although putting borders around creativity is no fun, it is necessary in the case of name choosing. For instance, the length of your company name is very important.
Even though you might be proud of the long name you came up with, the truth is that it would be very impractical for pretty much anything from your domain name to being a part of your email address.
Also, spelling is an essential aspect of practicality since if you went for a flamboyant word which is difficult to spell, chances are you will lose some customers due to it being too complicated.
Changing one letter in a well-known word can also cause a lot of confusion among the audience so always have practicality in mind when thinking of a name.
Be certain in your ideas
This last tip might as well be at the top of the list and that is being certain what you wish for the name to convey. This name should reinforce your business ideas and not just be some randomly chosen word.
Once you have come to terms with your intentions, you will find it easier to come up with a name.
Also, for the name to mean something to your employees as well, you can include them in the process and ask for their opinion.
In this way, you will show them that you care and create loyal brand ambassadors in the process.
By slapping a name to your company without putting much effort into that task, you will make an impression that you treat your products and your customers in the same careless manner.
If your target audience sees that you worked hard to create a name which pops and which matches your company’s identity, you will start to steadily build your customer base.
You should aim to be original but not too flamboyant or obscure and remember that simplicity is the key to creating a name which will be positively contagious.