6 Things To Consider When You Choose Your Business Name
by Arina Smith Business Development 18 April 2018
Choosing a business name is one of the most important things you will do when it comes to making business decisions. It could also be one of the challenges you will face early on. For some people, it will be one of the first things to do, as it will seem easy and simple for them. But for others, it will be a way to represent their company and what it truly stands for, meaning they will struggle long and hard before they opt for a perfect name.
Luckily, there are great guidance tips here which will help you focus your attention on the right things and choose the best name possible.
1. Make it memorable :
How to make a company’s name memorable? The things which should be a priority are the name’s pronunciation, length, and spelling.
If the target audience can’t pronounce the name correctly, you should ditch the name. You don’t want them going around, mispronouncing it. Before you make the final decision, let a few people who were not included in the process pronounce the name – if they do it correctly, you’re good to go. Or you could run a test – answer the phone with the usual greeting like “Thank you for calling (insert the name in question), how can I help you?” This is the way to check if the name is hard to pronounce in everyday talk.
The name also shouldn’t be too long, as the clients will have difficulties remembering it. Another thing is to come up with a shortened version of the name – the clients will probably do it on their own, so make sure you have the alternative ready.
In short, the name should come easy to the audience – it will make it more findable and memorable.
2. The visual impression is important :
Many studies concluded that people remember what they see easier than what they hear. Use this information when you are coming up with your company’s name. Adding a visual element to the name could increase your chance of being remembered when a client is trying to decide which company to turn to. Try to display the name in an unusual and unique way when you are creating a logo. The color is another possibility for you to stand out – it can create strong emotional associations that can both help or damage your brand. Do a research on color psychology and you will come up with ideas.
3. Create a positive brand connection :
Bear in mind that different words have different meanings for different people. You need to make sure that the words you choose can’t trigger any negative connotations, but they sound strong and descriptive at the same time. Lastly, you should definitely check if the name has any unexpected meanings in countries or regions where you tend to conduct your business.
4. Brainstorming method :
Creativity is the easiest to awaken if you include the brainstorming method in the process. The more free-thinking approaches there are, the more ideas there will be in the outcome. Conduct a brainstorming session with a partner or a colleague and put as many ideas on paper as possible. The important thing is to always have in mind what you want to achieve with the name and what you want it to stand for. Choose whatever way you want – make lists, draw mind maps or write word associations. You’ll discover the most effective way. You can also try coining a new name, as almost every word in the language has already been used in some way. This can be great fun and very effective, but sometimes it can create a false impression that the service or the product itself is complex. Furthermore, it could be too difficult a challenge for the beginners. An easier solution could be using new forms of spelling of familiar words – you can create a simpler version of an existing word and make it catchy.
5. Give a clue :
Try to come up with a business name that provides some information to the target audience what it is about and what the company offers. It doesn’t have to be too straightforward or too simple, but any clue will be of a great help with reminding the customers what services you provide. Be careful about one thing – this is a method used by many, so when you opt for a specific name, you need to do a trademark registration so as to ensure nobody else uses the name for their own purposes afterward without your approval. Your idea may be clear and simple, which means it will be effective, but it also means someone will come up with the same idea eventually – you need to protect your business.
6. Domain name :
The domain name is a critical factor in the success of the company’s brand. If you can’t get a domain name that you need, all the brainstorming you have done will be in vain, as the website domain name plays a big role in the brand development strategy. Therefore, you need to do a domain name search if you want it to promote your company and services. If the domain name is already taken, before you give up on the company name, try to use abbreviations or hyphens, or even an alternate top-level domain, such as .net. Alternatively, you can move on to the next potential name on your list and see if there is a domain name available.
Final words :
Maybe choosing the right company name won’t be easy, but the effort should pay off if you do it by the rules. Once your decision on the name is made, it’s important to build up your enthusiasm for the name. It is your very first step to creating a firm company identity, which will last for as long as you run the business.
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