The name of your company is one of its most valuable assets. Once you have chosen it, you will, over time, invest a lot of time, effort, and money in making it well-known. For this reason, you should be careful about your initial choice of the name. According to Inc., the choice of the company name can make or break it. Some valuable tips to consider while crafting a name for your business:
The Name Must Have an Impact on the Target Audience
One of the most important functions of the company name is to give identity to it. People in general and especially the target audience should be able to recognize the company without any confusion and get to know what kind of business it is in. The easy recognition is vital given that the average customer is bombarded with thousands of advertising messages vying for his attention. If you want to cut through the noise, your business name must have an immediate impact on your target audience. It should convey what the business is all about and also be memorable. It can be helpful to use an online company name generator to come up with names, you can play around with.
Don’t Make the Business Name Long
It can be easy to devise a name for your business that is unique, relevant, and memorable, only to find it is very long. A long business name is hard for the target audience to recognize and retain in their minds. It is also hard for them to refer the business to others. Registering a domain name with the full name might be easy, but people will find it difficult to type in their browsers or search engines. Moreover, incorporating it in signage, visiting cards, sales literature, and advertisements can be difficult and produce ungainly results. Using a short business name that is crisp, understandable, and memorable makes the best sense. If you look, you will encounter countless examples of successful businesses and brand names.
The Name Should Indicate What You Do
The best company names are smart, short, impactful, and memorable. They should also tell the target audience what the company does. By including words that reflect the nature of the business, you will make it easier for customers to relate with the company and prevent confusion. If you include words that indicate the kind of business you are in, it will make brand building easier and quicker. If you cannot build the company name around its activity, you will need to do it with a tagline that you must use along with the name.
You must never try to decide on the name of your business in a hurry because it can easily lead to unintended disaster. If you have decided on a name for your business, sound it out to others and ask for their feedback. You can be surprised at the variety of responses you get, and not all of them will be complimentary. It is especially important to speak out the name aloud and also find out what it means to people of different cultures.