When starting out, entrepreneurs are likely to get overwhelmed with focusing on the products and services they’ll be offering, how they’ll get and serve clients, and then leaving naming of the business as an afterthought. A name might not seem like the main aspect of a company, but it’s really one of the most important. It’s the first thing anyone hears when you talk about your company.
Names are quite powerful. It’s what potential customers and employees will first learn about you, and that’s where first impression comes to play. Names are like book covers, and people decide whether or not they’ll be doing business with a company based on its name.
Your business name follows you around; it’s your pitch, so it has to be good. Having the right name can sometimes make all the difference when it comes to propelling a business to success.
Here are helpful tips on how to come up with a winning name for your business:
Use a Name that Conveys a Meaning and Benefit
Your business name should convey something meaningful and positive related to your business. Can people instantly get what your business is about?
Business names that do not tell right away what your business is about would cost you a lot more to brand.
Know Your Audience
Your business name should resonate with the people you are trying to reach. Think about the type of people you want to attract, and what appeals to them. What’s the age range? What do they do for a living? How do they make use of their leisure time?
An in-depth understanding of your target audience can help direct new name ideas. Use what you know about your target audience to measure the relevancy of any name you come up with.
It Should be Easy to Spell and Pronounce
Sometimes, names seem fine on paper, but sound awful when said aloud. And if it’s said aloud, make sure people aren’t confused as to how it’s spelt.
Keeping your business name easy simple, easy to spell and pronounce make it easy for people to find your website, connect with you online and talk about you to others.
Check on the Competition
Do a research on competition. What kind of names do your competitors have? Make a list and compare them to spark your own ideas and to help you develop a name that really stands out from the crowd.
Avoid Names That are Limiting
Pick a name that allows your business to expand and evolve. Picking names that are too narrow and specific may cause you problems down the road. You’ll be tying your business down to a tiny market and you won’t be able to build on it.
If you choose a name that identifies exactly what you do, such as Joe’s Logo Design, you might be limiting the future growth of your business. Sometimes it makes sense to be a little more general, such as Joe’s Graphic Design, so you don’t have to revisit and possibly revamp your brand down the line.
Once you’ve come up with a few possible names for your business, try and get feedback from as many people as possible before you formally commit to any of them. A name might sound brilliant to you, but it might be the other way round to others.
Share them with colleagues, friends and family members, ask for their initial impressions and suggestions, and then add their feedback to your process.
Conduct a Thorough Internet search
Once you have determined a name you like, do a web search on the name to make sure no one else has claimed it.
Also test it out on Google Adwords. Do some keyword search on Google AdWords, to know if the name you settle for has keywords that gain attention on the internet. With this, you’ll unknowingly also be promoting your business, as people will easily find you online.
Hope these tips helped. We’d love to know in the comments!