How To Choose A Company Name: Important And Vital Tips

The right company name for your startup is an integral part of your business establishment, so you must pay attention here. You don’t rush to launch your company, startup, or business without thoroughly thinking of the best-suited name. Choosing the right and best-suited business name for your company can be seemingly difficult, but you don’t have to do it alone. The purpose of this article is to help you with essential and vital tips that will help you select the right company name.

Also related: How to identify your target market

You must understand that the name you choose for your business or company is as crucial as your business and services. Therefore, you must be careful about selecting a business name. If you follow the tips provided in this article, your business name will be indelible in the minds of your customers. It will always remind them of the value that your company offers. The truth is that a well-chosen business name can make you stand out among the competition. A right business name gives you a certain degree of an edge in the market; therefore, you shouldn’t treat it casually. 

Now, let us go down to business and consider these essential tips for choosing a good company name for your business. 

Essential Tips To Selecting A Company Name

•       The name must be clear and direct

You wouldn’t want your potential customers to be confused upon hearing your business name. The name of your company should clearly imply what the company stands for as well as the products and services it provides to customers. For instance, if your company or business name is “techpro,” it suggests to the customers that it is related to technology. So, someone that wants to go into the food industry should not use a name like techpro. Such names can mislead potential customers. 

For the sake of clarity, you need to put together a list of buzzwords in your niche or field, and then take your pick from there. 

•       Be very descriptive with the name

When picking a startup name, you must ensure that it sells the identity of the business brand. Your brand name shouldn’t just be clear; it must also be very descriptive. The business name ought to convey the identity of your company, its objectives, approach, and mission. Try to capture your brand’s experience, essence, and benefits in a suggestive manner. The name Amazon depicts something with a massive expansion, which suggests an all-encompassing service.

•       Make your business unforgettable 

While selecting a business name, you need to go for the ones that will help your potential customers to remember. The human brain stores names in its working or short-term memory, and the disadvantage is that we tend to forget. The only that can make an individual remember a name more often is if the name illicit and emotional response. That is the reason that you can’t forget your sibling’s name or your best friend’s name. 

Also read: How to build a business from scratch 

 So, to ensure that your business name remains unforgettable in the minds of your customers, you need a name that gets these customers on an emotional level. You can achieve this by pairing your brand name to a feeling, sensation, or an attitude. To create an unforgettable brand name, you keep it brief, make sure that it is unique, and use recognizable sounds or words.

•       Use simple, short but concise company names

You don’t have to overwhelm your customers with too many details in your company name. With and brief brand name, you will enhance speech fluidity as well as the ability to memorize it. The likes of Apple, Google, Microsoft, and Toyota are all examples of short business names that are simple, concise, direct, and catchy. 

•       Make your business name easy to pronounce

There is no need for you to use the name of one microorganism from the Amazon forest. You should avoid coming up with funny business names as it will have no positive impact on the success of your business. Choose a business name that your potential customers won’t have to bite their tongue before they can come up with the pronunciation. For all intents and purposes, your business should not be treated as a joke as it entails the very essence of your business. 

•       Follow current trends

While choosing a business name for your brand, you should ensure to avoid outdated recommendations. Your brand name needs to have a stylish vibe that resonates with the trends of the moment. You have to bear in mind that trending names today could be outdated the next month. Therefore, your brand and company name should be selected in such a way that it will stand the test of time. 

You can try isolating domains that are available and then select based on your taste or business criteria. 

•       Make your business name unique

You need a unique company name that will make you stand out in the market. When you come up with a unique brand or startup name, you automatically improve your chances of making your business name indelibly in the mind of your customers. In fact, the benefits of having a unique business name are enormous. When you enter the market, your business starts competing for specific audience attention, but when your company fails in this regard, then it becomes dead on arrival. You can create a unique business name by creating an entirely new word or a mixture of words that are simple, short, concise, and memorable. 

•       Ensure that your company name connects with the target market

You should never take an appealing brand name for granted for any reason. Let your business name specifically appeal to an intended audience. To achieve this, you must know the language of your target audience, their age, references, income bracket, educational background, demographic distribution, beliefs, and overall interests. Your company name shouldn’t just appeal to you; your target audience must be pleased with it too.

Conclusion

Having a great company name is an indispensable factor in creating and building a successful business brand. When you follow these tips that I have highlighted in this article, you will certainly improve your chances of success.

I would love to hear your thoughts on this topic, so kindly leave a comment in the space provided below. 

 

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