Sometimes the biggest obstacle after coming up with your dream business is the name. It’s difficult to settle on the perfect name that will accurately and best represent your business. Your inner marketing genius may want to do something cutesy and creative, but that can also get confusing. Do the names you are considering explain what you do? How many company names are just like yours?
These are my 5 tips to consider when picking your company name:
1. Don’t use someone else’s name that is not yours –
When your name is Lucy but you’ve named your company Victoria Designs, people will assume your name is Victoria. I know you want to honor your grandma, for example, by using her name, but you’ve just confused your potential clients and industry contacts. No matter how much time and money you spend on PR or advertising, people will always think you are someone else.
2. Make it clear what you do –
Although you may want to create your brand on a name, the product or service that you’re selling may not be clear. You want to choose a name that is both unique and clear in what you do. Consumers will always be confused by vague or misleading names. If you sell children’s clothes, make it clear that is what you’re selling.
3. Pick a name they won’t forget –
While you want to be specific and clear as to what services or products you are selling, you want to be unique. There is so much competition out there, your company name needs to stand out. What is it about your company name and brand experience that will be unforgettable? Your business name needs to be so good that people won’t forget it. However, there is a fine line between being memorable and being so different it turns people off. Basically create a name that you want your brand embraced as!
4. Keep in mind common spelling errors –
Can I easily remember your company name? Check! Once I remember it, is it easy enough to spell where I can Google it and find your website or social media? When your creativity starts to flow, you may find different ways to spell your company name. However, it can hurt your business when other companies have the same name spelled in the right way because SEO is on their side. People will automatically assume to spell it the way that makes the most sense to them when Google searching you. Also, keep in mind that your company name is typically your domain name, which is typically your email address. Choose a name that people can easily spell and save your colleagues, clients and inquiries the frustration of bounce backs and lost emails.
5. Consider the fact that you may want to sell your business one day –
Although you may think that you will be attached to your business forever, there may come a day when you want to sell it or pass it along to another. In that case, is your company name able to transfer easily to another owner? How many companies do you know that have been sold to another person with the original name of the previous owner? If you sell products it can still work, but for service based businesses it really limits you on how to grow beyond the business being about YOU.
It may seem like a lot of tedious details, but it’s all in the greater effort to help your business reach as many people and gain as many clients as possible. Be intentional with your company name. It will be how you are searched, referenced, and ultimately remembered. And if you’re thinking now that your brand name may not fit one of these tips, don’t worry! It’s not too late to change and rebrand. The longer you go with a company name that isn’t helping you, the more limited your options will be to maximize sales, grow your brand or sell your business down the road.
For more tips like these and to learn how to craft and reach the maximum potential for your business, reach out to work with me! Can’t wait to connect with you! XO, Leila