If you are in the process of opening a business you need to sit down and decide what you plan on naming it. You will need to tap into your creative side to choose a name or moniker that is catchy, relates to your industry, and is not already taken.
The best company names will stick in the minds of consumers. The worst company names can manage to sink even the best new business ideas you can manage to think up.
In this post I’ll show you how creative business names are critical in startups and growing businesses for not restricting the opportunities which some names can cause.
For starters, catchy business names are easy to promote and advertise because the advertising is done with the company name. If you have writers block and you are having difficulty creating a business name, read below and learn how to name a business and create your website domain at the same time.
You should also keep in mind that creating a business name is something which should be done early on. Even the most simple business plan will have to incorporate advertising and marketing plans which will inform what sort of name choices you should be making.
Cool Website Name Ideas That Also Make for Usable Business Names
Good business names are incorporated in the company logo and the company’s web domain. If you want to be visible on the Internet, there is no easier way to connect with your customers than having a business name that is the same as your web domain.
You need to stand out in your industry and choose a name that is not overly obvious. Avoid picking generic names that will not make a memorable impact on the customer.
If you sell shoes the last thing you want to do is select the domain shoes.com. Aside from the fact that is probably already taken, it is not memorable and will only satisfy short-term goals. Going for cool business names like Happy Feet or Shoes For the Sole will keep your business in the mind of happy shoppers.
Moreover, you’ll find that going with interesting company names will often assist you in coming up with creative or quirky marketing ideas, promotional campaigns and advertising slogans. Whereas, a bland moniker simply results in bland copywriting.
Tips & Techniques When Picking Names That Customers Can Understand
If you come up with great names for companies, you should take a survey (of friends, colleagues, co-founders of the business) and see if the names are as great to others as they are to you. All too often an entrepreneur names their business and none of their customers get the concept behind it.
Make sure you do not get personal when you are searching your mind for creative business names. It is tempting to add your pet’s name to your business or even your child’s name. The problem with that is that no one else can relate.
Think of universal words that everyone uses. If you decide to combine catchy words into one word to name your business, make sure they look and sound appealing. Combinations of an adjective and a noun may be creative but you have to make sure each part of the formula matches and goes together.
If possible, use voice of the customer research as a starting point for phrases, expressions and words your customers most commonly use in relation to the product you are setting. Simply put, this means asking customers about your products or those of your competitors, recording the interviews (with their permission of course) and then analyzing the text for any standard phrases you could use.
You should remember that even choosing something generic or seemingly vague (e.g. Virgin) can help your business later on if you want to branch out into different areas, services, etc. In the case of Virgin, Richard Branson has managed to branch out into cold drinks, airlines and music distribution – three completely unrelated industries.
Alternatively, your company name could have more strategic meaning for how you want your company to be perceived (its vision statement, as such) or define your inherent corporate culture definition. For example, Accenture consulting is one of those good business names based on the companies own vision statement. Their business is all about putting an accent on the future, so these two words were combined to provide an interesting new names for the business. This works for external marketing purposes as well as their internal creative/forward-looking culture regarding technology and employee mindsets.
Which Comes First? The Site Name or the Business Name?
Some entrepreneurs get stuck on whether they should create their site name or their business name first when they are learning how to name a business. While there is no right answer to the question, it is best for entrepreneurs to consider both names at the same time so they can come up with a cohesive combination that goes together.
If you can, you should search for available domain names before you start to thinking of creative company names so your business name and your domain name will match. Make sure you register a .com extension or another widely used extension like .biz. If you choose a .info extension, you will often have difficulty generating traffic.
In summing up: If you thought you would research how to name a business and the answer would be straightforward you were misinformed. With billions of active businesses on the Internet, naming a business in conjunction with its appropriate domain can be difficult.
If you are not a creative person at heart, consider consulting a professional or a friend who can come up with a catchy phrase at the drop of a hat. Not all business-minded people name their own business.
Avoid using an obscure name your customers will not understand and always think of your targeted niche when you are naming your business. Choose one with meaning and keep advertising in the back of your mind when you are trying to reach a mass audience.