Think of the most popular and highest-grossing businesses or companies in the world today. Amazon, Microsoft, Nike, and Netflix are just some immediate examples. If you noticed, just reading these names brings to mind the entire image and nature of the business.
What is it about these names that make them easy to remember? Did their names really help develop their companies? Is it possible to find a name for your business that will soon be on the same list as these examples? This article is where you’ll find answers.
The Importance of Your Business Name
Actors and musicians spend a considerable amount of time thinking of their screen name, and businesses should do the same. A brand name reflects the entire business, and it will be harder for your company to succeed without a good one.
Initial Impression
You’ve probably heard of the adage that goes, “the first impression lasts.” This is especially true for business. In a world where the competition is tough, a brand name that’s just like the previous and the next one wouldn’t make any difference in your success. You want a brand name that stands out among your competitors to gain leverage.
The Essence
Think about Oprah or Michael Jackson. These names are basically summaries of entire personalities, and the same goes for businesses. Your brand name should be able to encapsulate your company’s values, mission, and vision. Simply thinking of a name that sounds cool just wouldn’t quite cut it.
Uniqueness
If you plan on starting a business in any given industry, then you’re probably aware already of the fact that you need to offer something that other companies don’t. That will be the very character of your business, and that unique take on the product or service you will offer should be reflected in your brand name.
Tips on Choosing a Brand Name
After mentioning the importance of your business name, now is as good a time as any to discuss how you’re going to come up with one. You can try plenty of methods, but generally, you just have to follow these simple tips.
Brainstorming
Two heads are better than one, and that goes for thinking of a brand name as well. If you already have a team with you, business partners, and stockholders, for example, you could brainstorm ideas with them. It would also be beneficial if you collaborate with a company that focuses on marketing. Not only do you get to establish a brand name, but they’d also aid in promoting your business.
Written and Verbal
Some names look good written on paper but sounds terrible when said out loud. Now, this may seem like a minor issue but remember that one form of making your presence known is through word-of-mouth marketing. Choosing a name that’s quite hard to spell will make it challenging for consumers to research or look for your product.
Research Thoroughly
Once you’ve chosen a name, you must conduct adequate research on the web or through local government channels. Sometimes, you will find that other businesses have already used the name you want to go for. If you plan on taking your business to great heights, certain legalities may delay your process, especially if the other company has already trademarked the name.
The “.com” Domain
When establishing your website, you will often find that another page has already used your business’s name using the “.com” domain. You can settle for “.biz” or “.net,” but consumers often find websites with the “.com” domain more trustworthy. If somebody already owns that domain, consider it a form of investment and offer the owner to buy the website.
Avoid Limiting Names
You may want to avoid limiting names as well. While you want a name that perfectly encapsulates your business’s entire character, you should also refrain from being too specific. For example, a name like “Sweatshirts of Chicago” may not be good for a company name as this may limit your business to a single product and location. If you want to expand your business, think of a more general but meaningful name instead.
Meaningful or Catchy
If you’re having difficulty finding a meaningful name, then you should at least go for one that is catchy. Names like “Yahoo” or “Google,” for example, do not necessarily convey meanings behind them, but you can’t deny the fact that they stick to your mind after the first time you’ve heard them.
Once you’ve decided what you want your business to focus on, the next important thing you have to determine is your business name. Who knows? Maybe after reading this article, we’ll soon see your business on the top 10 of the most successful brand names out there.
