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5 Tips for Naming Your Business
2012-04-24

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Article identified by YANIK SILVER  from entrepreneur.com

 

Deciding on a suitable name for your business is an important process, which is often over looked by entrepreneurs. If you get the name right it can be a very powerful tool, as you get branding as a by-product of your advertising.

 

Here are five useful tips, which will help you determine an effective business related name:

 

1) The name needs to sound good when it’s said aloud. Use alliteration by selecting words that start with the same consonant:

 

Coca-Cola
Paypal
Dunkin’ Donuts
Blackberry
BlockBuster
 ….and the list goes on!

 

If you do decide to use alliteration make sure you say the name aloud to ensure it’s not a “she sells seashells on the seashore” tongue twister situation. The business name needs to be easy to pronounce especially if you are going to advertise over the radio or via videos.

 

2) Use a name that has meaning to it and conveys a benefit. You want people to hear the name and automatically know what your business does. It’s important you have defined your target audience through market research to avoid trying to appeal to everyone.

 

3) Avoid web 2.0-ish syndrome. Think about how you plan to spell your business name. A couple of years ago business owners went through a mildly dyslexic spelling phase to try and make their business stand out; “Computers4u”. This is fine to a certain extent but it shouldn’t get to the stage where customers are having difficulties searching for your business because they are unsure whether it’s a “you” or “u”.

 

4) Beware initials. Quite frankly they are boring. Multi-billion pound organizations like IBM and 3M can get away with it because they have been around for years and have become leaders in the market. But if you are a new business you need to rely on something that shows creativity and is interesting to your audience.

 

5) Use Specifics. Use your name to take advantage of your product or service by paying attention to details such as numbers or days; “8 Minute Abs” and “5-hour Energy”. If you have a promise, consider using it in your name e.g. a gym promised to be open 24 hours a day, so they named themselves “24HourFitness” – Simple and effective!

 

It’s also very important you trademark your business name and find a matching domain name (if you want a website) before settling on the name. I would also advice you to test the name on Google AdWords to discover similar search phrases and the number of global and local searches they are receiving per month.

 
I would also strongly advice entrepreneurs to test their business name with their potential customers before making a final decision. Marketest are leading market research experts ready and waiting to help you test your market at affordable price. 

 

 

Read More:

Is Business Sustainability Moving Fast Enough?

What To Do When You Have Nothing to Blog About

7 Low-Budget Small Business Marketing Ideas

5 Branding must-haves for startups

 

 

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