The Significance of Choosing the Right Name for Your Company

1. It will establish your brand

Your brand will set your company apart from your competitors. Since you have a new business, you still don’t have the luxury of getting endorsements or recommendations from customers or clients. You will have to rely on your company name to stand out from the crowd and establish your customer or client base.

2. It will let everyone know what your company is all about

The right company name will immediately give everyone an idea of what your company stands for and the products or services you are providing. This will go a long way in helping you enter the market, gain brand recognition, and soon, start making sales and profits.

3. It will be a crucial element of your Internet marketing strategy

Your company name will be one of the important keywords that users will type in when they search for your business online. You can help them have an easier time looking for and even going directly your website if your brand name is easy to remember and type in web searches.

4. It will help you avoid unnecessary expenses

Choosing the wrong name for your company can lead to a lot of problems which can be costly to deal with and fix.

If you happen to select a name that is already trademarked, you will have to pay for additional rebranding efforts which include further research and development. Having your website, business card, and other promotional materials changed or redesigned will cost you, too. Lastly, using a trademarked name can cause you certain legal headaches as well.

1. Think about the “brand personality”

If you’re really having a hard time coming up with the right company name, ponder upon what your products or services are all about and others that you will likely offer in the future as well.

Next, consider your target audience and list down your company’s mission vision and business goals if you haven’t set them yet. Once you have all these details, use them to come up with a name that represents or encompasses the most important thing you have to offer to your target audience.

2. Come up with a short, simple, and unique name

Long, descriptive business names are out; short, catchy, and distinctive ones are in. This is because they are easier to remember and better overall for all your marketing campaigns especially for social media and SEO purposes.

But when choosing or creating a unique name, remember to keep it simple. With enough brainstorming, you will come up with a creative name that will give people a short, clear, and direct description of what your brand is all about.

3. Harness the power of emotions

The best company names are those that resonate with customers or clients. Typically, these are names that conjure up happy or exciting memories.

Take advantage of this fact when coming up with your company name. Choose or add a word that evokes energy, confidence, growth, or fun or any adjective that truly defines your brand so that your target audience will respond to your business on an emotional level.

4. Check if your name is already trademarked

As soon as you have picked a name, find out if it has already been trademarked. You can go online to do this or get help from business consultants that offer this service.

At this stage, you should also check if the domain name you want to use is still available. With more and more people doing online shopping today, it is important that your website is easy to find on the Internet and that you establish your presence as soon as possible.

5. Don’t rush it

Finally, selecting your company name is an important step in the whole business setup process. Once you’ve picked your company name, it is something that can be hard and expensive to change.

As such, take your time to choose your business name. Do your research and enlist help when you need to. A great company name will ensure you will have a good start in the market, and it will contribute a lot to the continuous growth of your new business.