Choosing a name for your business is every bit as important as trying to ensure services to customers in the industry, and even more so! Since your business name is the identity of your service, it will be the name with which the market and customers will identify you. If the name is unrelated and seemingly irrelevant to the product or service you offer, then the customers will find it hard to remember, and your name will eventually be forgotten.
Remember, in an industry which is highly competitive, a name which is difficult to remember or relate to a service, is bad enough to drive away customer traffic of existing customers. This is why, if you don’t choose the right name for your business, you run a high risk of losing customers who have the potential to become loyal clients.
Do you want to know what your business name should be? Keep the following points in mind while deciding an appropriate name for your business. Read more on branding
Reinforce Key Elements of Business Value
Make sure that your potential customer doesn’t have to think twice, to understand what you have to offer. Ambiguity or vagueness in a name can prove catastrophic for the business. Make sure to have combinations of words which give the customer an idea of the value you offer.
Experts discourage the use of number strings and symbols displayed as a business name, as it might confuse the target market about your product or service portfolio.
Keep the Appeal Factor in Mind
Make sure to choose a name which is appealing enough to attract your target market. If your business name has a descriptive and concrete design, then just add an excitement factor and be the talk of the town!
If you offer kids toys and apparel, have a name which taps into your market and also tells moms and dads why your service is the best for their child. Toysrus, is a name which gives every child’s heart wings and parents know where to go when they want to buy a good educative toys for their kid. The name just says it all!
A Long Name – Not a Good Option
Why? Simply because it will be difficult to remember! At a time when you want the market to memorize and chant your name, giving a long forgettable name to your company can prove to be disastrous. Most potential customers will likely try to remember and give it up when they can’t.
At a time when you want your business name to become a household name, making it too long or complicated to remember, is a major ‘mistake to avoid’!
Check for Available Domain Name
Yes, you have a great business name, which is concrete solid, short and precise and gives a clear idea of what you have to offer, but you can’t get a similar domain name for your website! What then? While multimillion dollar enterprises can buy any domain name they want, if yours is a start up, you cannot enjoy this luxury. Check for a domains name
You will have to make do with whatever names are available. Make sure that you browse through the list of available domain names as inspiration for a business name for your start up. You might get innovative ideas along with a good domain name for your website and enjoy two benefits!
Never compromise on the name of your company and get it registered as soon as possible. Also, get a trademark copyright to prevent anyone else from copying your business identity – your company name!