When starting your new business, there’s one super-exciting thing to do: give it a name! Alas, it’s also one of the most difficult things to do, it’s time-consuming and very frustrating. In my experience, anyone who is working in marketing will struggle to come up with a great name for a new business and its products/services.
Why is having a brand name so important?
A brand name is similar to a signature; it gives credit to the creator of a particular product or service.
A BRAND NAME IDENTIFIES
a particular product/service from other, similar brands
A BRAND NAME VERIFIES
that the product/service is the genuine or desired article, rather than a generic or knock-off copy
A BRAND NAME IS PART OF YOUR CORPORATE IDENTITY
It appears on business cards, letterheads, websites, promotional material, social media platforms to identify your business and verify your products/service
Having the right name is important, especially for small-business success. The right name can put your business in the spotlight, while the wrong one can lead to failure. Ideally, your name should suggest your area of expertise, your values, and what distinguishes the product/service you are offering.
Whether you undertake the task of finding a name on your own or collaborate with your business partners, here are five tips to keep in mind to be sure you’ve created the right name for your business.
1) GIVE THE RIGHT VIBE
When choosing the name you need to bear in mind you want to send the right message to your audience. It should also work throughout all media, from websites to flyers and business cards.
2) SPELLING AND PRONUNCIATION
Don’t try to be clever by using strange spelling. Think about answering the phone and spelling out the business name. Is it easy to understand? Can people easily remember how to spell the name? Is it easy to write down? Think also about the URL of your domain name, which should be short, easy to pronounce and easy to spell.
3) SEO
Consider using words that describe what you are doing. This can help in Search Engine Optimization. Bear in mind that this can be an obstacle if you’re planning to diversify your service/product in the future
4) GOING ABROAD?
Is it in your plans to be trading abroad? If this is the case, check that your business name doesn't bear an offensive meaning. Double-check the meaning in other languages!
5) CHECK AVAILABILITY
You’ve come up with some good names for your business. Before you commit yourself, you must check if the name has been taken. When you are buying your domain name, it is often wise to buy not only the extension ‘.co.uk’ (or similar) but also the ‘.com’ as well.
Once you know what your company name needs to communicate, take some time to brainstorm. Bear in mind this is a long process, so don’t rush. A bad name can jeopardize all the efforts you have gone to so far in creating your brand!