The name of your business is its true first interaction with your target market. While its not the only criteria on which the value of your company will be decided, the name does play a huge role. How it is remembered, what people will initially feel, even whether or not a customer follows up on an advertisement – all that and more are affected by what you name the business. Fortunately, there is much you can do to ensure that you come up with one that is both memorable and functional. Here are 7 tips that will help you pick the right name for your company:
1. Choose a Wide-Ranging Name
While your business should have a target industry, the fact is you do not know how the future will grow. You may find the company expanding in unexpected directions, and you do not want to be limited by your name. Generally speaking, you should not have the product or industry in the name itself. Additionally, you should not add the name of a city or even country to your company name, as that can unnecessarily limit its mental reach.
2. Choose a Name With Meaning
Much like any part of your business presented to the public, your company’s name must inspire a feeling or represent some sort of meaning to your target market. If you are having trouble choosing a name for your company, take a look at your brand. Consider the emotions that you want to inspire in your customers, then choose a name that leads them there.
3. Keep Names Easy to Spell
Fancy names are memorable, but the problem with elaborate names is they tend to be difficult to spell. Remember that your name should not only be memorable, they also need to be easy to spell and thus easy to type into a phone or computer. The easier that is, the more likely they are not to give up when looking for your company online, which can be the difference between an actual customer and someone who moves on with their day without engaging with you.
4. Make Sure the Name is Legally Unique
One of the worst feelings you can experience is finding the perfect name for your business, only to find that it is not legally distinct enough for you to actually use. Check your local records to ensure that you have access to your chosen name. Keep in mind that not only does your business’s name have to be different and unused, it also has to be different enough from existing companies. If you are not sure, check with a lawyer to ensure that you are legally in the clear. As an additional layer of security, you should do an Internet search and/or a trademark search for your company name to see if anyone else is angling to take it for their business.
5. Get the Right Web Domain
No business should be without an online presence, and a massive part of it is getting the right domain name. You not only need to get the address directly related to your company name, you will also want the appropriate extension. That means you should be ready to purchase the domain name the moment you file your company name.
6. Get Feedback
Whatever name you choose needs to be run through the wringer. It needs to be catchy, distinct, and memorable, and not just to you. The name needs to work for a wide variety of people, and the only way to find out if it does that is to run the name by a lot of people. Get as much feedback as possible. The more comments you get, the more information you can use to workshop and improve the name.
7. Say the Name Out Loud
A lot of names look good on paper, but fail to perform when actually spoken. The ideal company name is not only easy to say, but easy to understand. It should also be spelled the way it is spoken to ensure that even people who hear your company name in passing can research it at their leisure and without difficulty.
Unlike your brand or even the logo, you will have to live with your company name pretty much for the entirety of its existence, so put in the work to ensure that you get one that not only works for the company, but one that you can live with and enjoy.