Naming a company can be very tough and oftentimes frustrating. Words are incredibly important and names are quite powerful. When naming your company, you should keep in mind that consumers have many choices out there. Success can very well start with an attraction to your name first, your product second. So, stand out and make an impression! Here are 5 tips for naming your business:
1. Your name should have an appealing sound.
Your title needs to be cohesive. It’s imperative that the name sounds appealing when said aloud. Sometimes, using alliteration and words starting with the same consonant can be catchy. Think of Coca-Cola, PowerPoint, LuluLemon, Dunkin’ Donuts, Burt’s Bees, etc. Always imagine what the name would sound like if heard on the radio, on the television, or even in a conversation. You will be referring to your company several times a day. Choose something you’re proud of and actually like saying!
2. Use a name that entails meaning.
Make sure your name is not too generic. It’s important to know your intended audience and choose a name that conveys some sort of meaning and/ or benefit. Do your homework and gather feedback from people you trust. Remember, it’s impossible to be “everything” to everyone. Furthermore, choosing a name that ties into a specific element/subject is very beneficial. While you want to be creative, you also want people to have an idea of what exactly it is you’re marketing when they hear the name aloud.
3. Avoid initials and choose something intriguing.
While it’s true that companies like IBM and 3M have gotten away with initials, they have also been around for decades. To be honest, initials can really be quite boring. For a startup company, you should rely on a name that is intriguing. Also, try to choose a name that would be easy for potential customers to look up. The last thing you want is for them to hear about your product and have difficulties searching it online because of unique spelling choices.
4. Consider trademarking your brand.
What if your brand gets big? That would be a great thing, right? Before settling on an idea for a name, be sure you look into trademarking it. You can use USPTO.gov or Trademarkia.com to trademark and patent your ideas.
5. Use online tools to test out your word choices.
Google has a really neat tool called Google AdWords. Within this program, there is a “find keywords” tool that will list similar phrases, along with how many global and local monthly searches have matched the words you’ve chosen. Not only will this give you an idea of how frequently those words are used, it’s also another way to ensure there isn’t already a name that is too similar to yours.
As you can see, a business name is definitely not something you should settle on. Instead, strive for a name that will make customers want to know more about your product. Furthermore, never underestimate the amount of choices your targeted consumers have. Living within the era of social media and 24-hour access to the Internet, you want your name to be the one that users will be clicking on, liking, typing, and sharing! For more information on starting your own business, check out our Start Your Own Small Business Course!
We hope this helps and best of luck!