When deciding on a name for your business venture, you will need to consider the legal and marketing implications. Choosing an effective business name will be an important consideration as it will be vital to your branding and how your customers will see your business.
Selecting an appropriate business name is extremely important when starting a new business. It will provide identity to your business and will impact the marketing and branding of your business.
The process could be compared to choosing a name for your children. The name should be original and memorable. This normally requires brainstorming and care thought whilst finally shortlisting your final selected names. Therefore, the importance of going through the right steps to select the perfect name for your business should not be underestimated.
Why Business Name is essential
The first point of contact
Any potential customer will notice the name of your business first. Whether online or on the high street, the name of your business will be identifiable
You want to stand out from your competition and your business needs to appeal to customers. Selecting a business name that gives your business name the first initial appeal will be important to achieving this.
Striking the right balance between with your business name will also help to develop a strong brand identity in the future.
When starting a new business, your brand should not just be a memorable logo but also an effective, memorable name that can really help people remember who you are.
Your company and branding should be recognisable to your customers and reflect how you want your business to be perceived.
With any business, you will want to stand out from the crowd so consider the following key points:
Do you like the sound of your business name?
You are going to be saying the name of your business several time each day so make sure you like the sound of your name. Don’t make your business name too difficult or complex to say.
Make sure that you also like the way your business name sounds when other people say it. It must be easy for people to pronounce. Don’t make it difficult for people to say or this will only detract from your overall brand recognition.
Do you like looking at the name of your business?
Think about the way your business name is written. Also consider the branding which will be very important in the future. The visual representation of your business name will also need careful consideration.
Don’t be too clever in selecting your name as this is likely to make your business name to complex and difficult for your customers to recognise and associate with.
It really is about striking the right balance of having a good name and good branding at the same time.
Dos and Don’ts
Adding a personal touch
Calling your business after your own name is not recommended as it is not really original. In the future, it is also important that tour business can stand alone without you therefore not having your business name personal will help achieve this. Establishing a brand in the future will probably be better achieved if your name is original and unique.
Naming your business after your locality
There can be a benefit to including the locality of your business it its name. Customers tend to associate local businesses with strong local roots and customer friendly approach to the customers. This can help customers perceive your business and well established and reputable.
Making your business name funny
Injecting humour into business names has become popular over the last decade. A lot of restaurants, coffee shops and hairdressers have done this really well. Examples include a Thai restaurant calling themselves Thai Tanic and a middle eastern shop calling themselves Pita Pan. You would be surprised on how a funny name can intrigue customers to check out your business. Obviously don’t make them too cheesy!
Whatever name you decide, just make sure you have carried out plenty of research and consider how the name identifies with your business. Make sure it is recognisable and easily branded.