Naming your business must reflect your organization’s specialties but shouldn’t be too wordy. It must catch your target audience’s attention but shouldn’t be similar to other businesses out there. For this reason, the naming process can be challenging and time-consuming at the same time.
So, how do you create a memorable and unique name for your business? To get started, below are some tips to keep in mind when naming a company:
1. Do Your Research
Regardless of your preferred business structure, it’s essential to do a business name search in your region. For instance, if you’re planning to structure your business as a corporation or Limited Liability Company (LLC), you should conduct a corporation or an LLC name search in your state to ensure that no similar name exists.
Some states don’t allow new businesses to use names that are too similar to any registered businesses and will reject formation filings due to name similarities. Thus, it may come in handy to do your research before you choose a name for your business.
2. Readability Matters
Some names can look memorable and unique, but they should be easy to read. Ensure that there’s only one pronunciation to avoid confusion. One of the best techniques to generate a readable and memorable name is to use alliteration. For example, if you run a restaurant, “Totally Tasty” could be a cool name.
3. Avoid Plain Words
Plain words can make it hard to differentiate your business from your competitors. For instance, there are countless logo design companies across the globe, and going with descriptive options like ‘best logo design’ won’t make your business name unique and memorable enough. So, if you want to stand out in the market, avoid plain words and opt for other brand name ideas that will capture your target market effectively.
4. Keep It Simple And Short
Many memorable business names roll off the tongue. They’re neither too long nor too short and include full words instead of acronyms or initials. While experts don’t recommend against using initials for business names, they urge you to consider acronyms.
Your customers may refer to your business by its acronym since it’s much easier to say and remember. Besides, a carefully planned name warrants an impression free from public humiliation. Just ensure that it’s easy to pronounce.
5. Avoid Slang
It’s often tempting for several businesses to incorporate slang words into their business name to appear trendy or cool. This is the tendency among businesses with younger audiences.
But, if you want your business to be remembered for years, it’s best to avoid using slang words. It’s because what you opt for now will be used up or become old in a few years. When that happens, your business may appear as the exact opposite of what you’d originally intended.
6. Understand Your Business
Your business name is the first connection you’ll make with your prospective customers. Hence, it’s crucial that you define your company’s values, vision, target audience, and mission as early as possible. If you haven’t created a business plan, make sure to develop one. It plays an essential role in naming your business. Then, think of your company’s representation and how it can benefit your brand image.
7. Try To Avoid Geographic Names
Although there’s nothing wrong in using geographic names, it may, however, affect your business in the future.If you’re only planning to operate within your city, it’ll serve you well. But, if you want to serve customers from different parts of the globe, you should avoid geographic names.
Think of your future customer base first before using geographic names. This way, the name you’ll come up with will also work for your long-term plans and goals.
8. Keep Your Domain Name And SEO In Mind
If your business will include a website or you have plans for one in the near future, you have to consider your domain name in the process. Domain names, or the name of a website's address, are often based on the company's name. It’s common to find identical or similar names in various industries, which may confuse your customers. Your business name and website domain name can also have a huge impact on your search engine optimization (SEO) strategy to earn extra organic traffic.
So if you already have a business name in mind, check if the domain for the same name is still available. It’s because if there are businesses using the same name as you, you may not get trademark protection for your business name.
9. Think Of Your Company’s Future
When naming your business, another tip to consider is your company’s evolution. While you may start specializing in antique jewelry pieces, your business plan may also include selling other merchandise items or jewelry repair services in the future.
Let your business grow by leaving out restrictive words in the name. Remember that consumers can be fickle-minded. What’s trendy these days is often forgotten next year. Technology and trends are also changing rapidly. Therefore, stick with a timeless company name that’s relevant, regardless of the trends.
The Bottom Line On Business Names
The name of your business is one of the most essential elements to establish a brand identity. Although coming up with a business name that stands out will take a significant amount of time, your efforts will be worth it in the long run. Consider the above tips, and don’t hesitate to experiment with various business name ideas that pop into your mind.