Tips for Creating a Good Business Name
It’s always important to choose the perfect business name to start building your brand. First impressions influence your potential customers, setting the tone for your entire business to stand out amongst your competitors. A good business name is like a well-crafted billboard: it’s memorable, informative, and captures the essence of what you do.
Here are some key points to guide you in crafting the perfect name for your business.
Table of Contents:
The Easier, the Better
A name that is easy to type, easy to remember, and obvious as to the pronunciation is important.
Customers tend to have a hard time remembering longer and difficult business names, consider using name alternatives that are easy to type, remember, and pronounce, with this your brand will be found easily and make a huge difference. Keeping your business’ name on your client’s memory is a valuable asset to avoid creating unnecessary hurdles and hinder recognition, you will be found easily on different platforms such as Facebook, Instagram or Google My Business.
You want to keep it simple and easy to remember. For example, the high-fashion label COMME des GARÇONS is definitely a tongue twister!
Embrace What Represents You
It should exude confidence and be self-promoting.
Make your brand memorable, evoke feelings of trust, expertise, and innovation. Think of your brand as an extension of you and your team, it should represent what you want to show your customers. Your brand must approach a sense of trust, leadership, and versatility. By choosing a name that expresses more, you’re setting the stage for success from the start.
For example, Microsoft embodies competence in the technology sector and people rely on them a lot.
Avoid Brand Twins
It shouldn’t cause confusion with another like business or compete with a well-known brand.
Using a too similar name to an existing company might cause a negative impact to your brand, leading customers to the wrong direction, affecting any planned marketing efforts, and confusing your clients. Choosing an existing brand might be seen as unprofessional and considered dishonest competition. Customers tend to compare different brands to pick the best fit for them, but having similarities might affect the way they judge you against your competitor, and it will backfire in the future of your brand recognition. To truly stand out, choose a name that carves its own unique space in the market, free from confusion and overshadowing established players.
For example, Domino’s Pizza vs. Domino Sugar. The first one is a well-known fast food chain while the other is a powdered sugar brand.
Get Your Domain Name
Make sure your domain name for your brand is available.
Try your best to secure the “.com” domain name for your brand. Most customers will instantly recognize “.com” websites as professional and trustworthy. There are websites like GoDaddy.com and NetworkSolutions.com that let you see if a domain name is free to register. If it’s already taken, you can try finding the owner’s information using the “Whois” tool on those same sites. This might allow you to contact them and see if they’d be willing to sell you the domain name.
Don’t Limit Your Brand
It should be broad enough to allow for future expansion.
If expanding your brand is part of your plan, a great option for this would be a future-proof name that can easily adapt over time to any circumstance. A restrictive name might limit your desire of future expansion and will bring back the need of a rebrand if you don’t consider the scalability of your brand beforehand. Always leave space for your brand to grow along with you if you’re setting a business for higher success.
For example, Amazon started as an online book store and now it has evolved into a streaming service, e-commerce, and so on.
Keys For Your Needs
If you rely on search engine results, then what you are trying to be found for should be in the name if possible.
Keywords are definitely a game-changer. It’s a fact that your brand needs to be present in any online platform to be found anywhere, anytime. Adding relevant keywords into your business name increases discoverability. Potential customers often use search engines to find the products or services they need.
For example, let’s say you’re looking for “car repair” and businesses with names like “Carl’s Car Repair” “Birmingham Auto Center” appear at the top of search results. It helps your audience to find their way right to your business and increase your traffic.
A as in Apple!
If you rely on being registered in online search directories then it doesn’t need to start with a Z, because you will be listed last (starting with “A” is never a bad idea).
Online search directories are a very helpful tool for your brand exposure. Relying on alphabetical listing for discoverability won’t guarantee more visibility for you, names with letters starting near the end of the alphabet could be listed last. For a stronger online presence, focus on the points mentioned previously – a clear, memorable name and relevant keywords for organic search traffic. That being said, if you do plan to utilize search directories alongside other marketing efforts, choosing a name that starts towards the beginning of the alphabet (like “A”) wouldn’t hurt. It can provide a slight advantage in getting noticed within those listings, but remember, a great name should shine for its own merits, not just its alphabetical placement.
For example, Apple, Amazon, Coca-Cola, and Disney. These big brands start with the first letters of the alphabet.
Study Your Competitors
Take a look at your competitors (especially the ones that you feel you can get market share from) to see how they are named.
Understanding how your competitors are named can be a strategic advantage. By taking a close look at their names, particularly those you believe you can outperform, you can identify potential gaps in the market. Imagine your competitors all have very descriptive names that highlight a specific product or service. You could choose a name that’s more evocative or brand-oriented, creating a unique identity that stands out from the crowd. Analyzing competitor names can also help you avoid overly similar naming conventions. This will prevent confusion among potential customers and allow you to carve out your own distinct space within the market. By learning from your competitors’ naming strategies, you can craft a name that positions your business for success.
No Brand Name Around Your Surname
If you plan on selling it then you wouldn’t want to use your family name.
Adding a family name to your company definitely protects your legacy over time and fills you with joy about what you have achieved along the way. It’s unquestionable that including your name adds a personal touch, but it might not be the best strategic choice if you ever plan on selling your business in the future. Potential buyers often look for businesses with names that are independent of any individual owner. A name tied to a family name can make it seem less transferable and established. Imagine a bakery called “Johnson’s Pastries” – a buyer might be hesitant if they can’t easily rename it to reflect their own vision. Choosing a more general or brand-oriented name makes the business more attractive to potential buyers. It allows them to seamlessly integrate the acquisition into their existing brand structure or create a new identity altogether.
Protect Your Brand
If you plan on selling it or making it big then you would want a name that can be trademarked.
If your plans are becoming a major company in the market, you should evaluate a trademarkable name. This is a must-have for legal protection, preventing others from using it commercially. This is important for the future of your brand when you gain recognition and value, in order to avoid anyone who would try to use a similar name to capitalize on your reputation. Safeguard your brand identity and protect the legacy of your company. Search for your brand at USPTO.gov and find out if your brand name is available for trademarking.
For example, Xiaomi released a phone called “MiPad” that was deemed too similar to Apple’s “iPad”.
Conclusion
Giving your brand a name is a big responsibility that will set the bar of how your customers will perceive you. Keep in mind that this name will be with you for a long time so make sure you are happy with it and you believe that your message will reach every customer.
