Coming up with the right business name does not start with thinking long and hard about the right word coinage. It starts with realizing that the brand naming process can be your biggest success story as well as your worst nightmare.
In other words, coming up with company name suggestions starts with understanding how important the naming process is. This is why you need to be open to tips that will help you make the right decision.
This is exactly what we will do in this article as we go over some tips on how you can choose a business name. We are certain that you will come up with the right corporate identity if you play by the rules listed and explained in this article.
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The Importance of a Business Name
Your business name is way more than a formal way to identify the goods and services that your corporate venture offers. In actual fact, it is the first point of call for many people that would either engage your services or look to the next company.
The name speaks when you are not there to sway potential customers over to your side. You must take the process of naming your company seriously. This is especially given how it could be your business’s strength or weakness.
Recently, research was conducted as to why a product with several negative reviews was having huge conversions on an e-commerce platform. The simple reason was that the name of the product ticked all the necessary boxes.
Especially in this age when online marketing is fast becoming the normal thing, you cannot afford to take the process of naming your business for granted. That is not to say that we support complacency in service delivery, we are only stressing how important your business name is.
Tip on How to Choose a Business Name
Listed and explained below are some tips on how to come up with a business name:
It Should be Target-Audience Sensitive
There is hardly any brand that is not about reaching out to a target audience. The target audience could be about age, class, location, perception, and a few other things. Once you have identified your target audience, you are to choose something sensitive to them.
The decision you eventually make should trigger the right feeling among the target clients. Make sure that the name does not send the wrong message amongst this group of persons.
Insight into Industry Solutions Your Business will Offer
We strongly advise that the decision you make aptly addresses and solves an industry problem. For instance, imagine that your company is into the hairstyling business. You should think about something potential clients are worried about.
For instance, many people have the fear that a hairstylist may not be creative enough with their hair. You should use a name that promises creativity of the highest order. How about something like “creative hands”?
This is simply two words and three syllables. However, it aptly sheds light on your ability to be creative enough with your client’s hair.
Brainstorming Sessions can be very Helpful
Who says you have to come up with the business name all by yourself?
It does not have to be this way. Experience has shown how many of the renowned brand names were a result of brainstorming sessions. So, you should listen to what others may think about the corporate identity of your company.
Furthermore, you should try as much as possible to leave no one out of the brainstorming session. You may just be stunned thata janitor has a better idea than your inner circle team.
It Is Better with No Pressure
Here is another thing experience has taught us – coming up with the right business name may take time. So, it would be better if you take away all the pressure and timeline you have attached to it.
We are not saying you have to be sluggish with the whole process. In fact, that will defeat the importance of having the right name. However, do not put too much pressure on yourself to arrive at the right choice. Just let it come naturally.
Steer Clear of Generic Names
We strongly advise that you stay away from generic names. This is except you have a definite reason for doing this. The reason is that generic options have a way of making things ambiguous for your potential clients.
Most of the target audiences are not patient enough to make the necessary findings. More often than not, they check out the next options quickly. This is especially considering the numerous options available to them.
A Name that will Compliment a Realistic Logo
This is where many people get it twisted. We know that you are all out to arrive at a catchy name. However, you have to consider your logo.
Do not make a decision that will put you in a fix when coming up with a logo. So, you should think in line with your logo when making a decision.
Ensure It Has Not Been Taken
Thousands of brand names are registered daily. This means that a lot of options have been trademarked.
Considering this, you have to ensure that the decision you come up with has not been trademarked by another business venture. To do this, you are to run checks on the pertinent database.
Once you have found out that it has not been trademarked, you should be swift about ensuring that you trademark yours. For information on how to go about this process in the United States, you can visit:https://www.wsj.com/articles/BL-HOWTOSBB-7
Simplicity does it
We have mentioned this earlier but it cannot be stressed enough. Do not complicate things for your potential customers by using an ambiguous and/or hard-to-remember option. Simplicity is valuable in this regard.
You can save yourself all of the trouble by engaging the service of a company that is into coming up with business names. However, it is important that the company understands the art of business naming and can help you in that regard.