Tips for Naming Your Business
Do you know that the name of your business can be a powerful marketing force? YES! Absolutely. It is the reason why many businesses seek a marketing expert's advice when it comes to naming their companies. Some people are even willing to spend tens of thousands of dollars for this privilege. So if you have finally decided to start a business, don’t even think of naming your business until you read this.
How Will A Bad Business Name Hurt You?
According to studies, your business name can impact the performance of your brand. It will have the same impact on your potential customers. Primarily because the name of your business sets an initial perception of the company that may override all of its value. A bad naming decision, therefore, can negatively affect your business in different aspects.
However, there are still individuals who are not convinced that a good business name is important. These people think that the only heap of problems that can scupper a business in its plans to grow are poor sales, new competition and better marketing strategies of competitors. Well, the material effects of a bad business name are not possible to calculate with any accuracy. Why? Because this type of damage can seem intangible. But, it's proven to signal danger to potential customers and investors.
The Wrong Name Can Harm Your Business
Hey! You should care about the name you give your business!
Your business name can imply strength, value, connection or friendliness to other businesses and your target audience. While the wrong name can hold it back to its further development. Here's why:
Bad business names are usually lousy. They don't have any appeal to one's hearing or perception. They aren't easy to recognize because they are not convincing at all. It bores the target audience which will drive their attention away. Remember that brand awareness is one very important factor when it comes to gaining leads. So if your business name is lousy, it's too boring to settle on. No one's going to spread the word about your company.
2. You're not serious.
When you have a bad business name, people will think you're not serious about your business. Your potential customers will think that you're not determined to catch their attention and inform them about what your business is all about. Business is a game of inches. Every little possibility to get a lead is already a huge opportunity to close a successful sales deal. So if you're serious about what you are offering to people, naming your business must be taken seriously as well.
3. They're hard to understand.
One very easy way to attract potential customers is the way you tell your business story. It's not just about your brand design or product packaging. It's not even just about the way you campaign and advertise your goods and services through content or video marketing strategy. But it's also about the name of your business. When people find your business name hard to read or pronounce, that's already hard to understand. Comprehension is the key to win people's attention. A bad name will disappoint potential web visitors. And you're surely going to miss another opportunity in there.
Naming Your Business
5 Effective Ways You Must Not Ignore
1. Conduct a thorough Internet search on keywords.
Compile a list of keywords out of thorough research on the web. Check their availability for domain registration. Carefully study each keyword. Try to identify the keyword that strikes a chord with you. There's nothing wrong of shortlisting those keywords that are appealing to you. Set aside your selection and check their search traffic on the internet.
If you have thought of unique and original keywords, source them out by considering your business market. Your keyword and your business must be relevant. It's best to use the web for research because most of your marketing will happen digitally. You need to tailor your business name into something that is going to be a hit over the Internet.
2. Simplicity in a business name could have a stronger impact.
Don't think that if your business name sounds too simple, it won't work for your company. It will work the other way around. When it comes to naming your business, keeping things short and simple is the ideal thing to do. It holds just as true in the online marketplace as it does when looking at a stock portfolio.
Complicated business names will not affect people or investors at all. Firstly, because they are even hard to understand. So avoid hard-to-spell and hard-to-pronounce names. You don’t want to confuse your potential customers. Giving them a hard time reading your business name could be the reason they'll ignore you when they find you online.
3. Keep it short.
The length of the business name is one very important factor to consider. Lengthy company names are one of the main barriers keeping customers and investors from buying your market. In fact, the most popular length for a domain name was only eight characters. Moreover, a long name is hard to remember. And that is something that marketers don't want to happen.
When naming your business, your goal is for your customers to remember you even after closing a successful sales deal. So better avoid endless string of characters when creating the name for your company.
4. Name the business after what you do or love.
This is sometimes overlooked by many business leaders. Most of the entrepreneurs today focus so much on the marketing standing of a keyword or business name. Yes, that is right. However, since it is your business, it is best if you love the name of your company. You must also take into consideration your personal feeling towards your business name.
Although you still have to make sure that the name that you like has a high search percentage on Google. Test it out on Google AdWords to get its SEO strength. Additionally, it's also best if the name of your business starts with A, B, C. Avoid names with no vowel. Just to be unique, you are putting your business name at risk. Keep the name easy to spell.
5. Use names that convey a benefit and emotion.
Avoid generic names that mean nothing. A business name is much better in a shorter length, but it must still have the ability to convey your purpose. What are you trying to offer? How can your business benefit people's needs? Make sure that you choose a name that gives out emotion.
You know that a business name is effective because once you hear or read it, you understand what the company is all about right away. If you find this very challenging to do, there's no need to worry. There are a lot of marketing agencies that can help you.
This world is loaded with information. If you want fast and high recognition, you must stand out. Your business name is going to be your start-up inspiration in your corporate journey. What you need to keep in mind when naming your business is to remain memorable and meaningful for years to come.