Finding the right name for your company can be difficult. Yet, this is a necessary step in setting up your online business. Read on to learn how to choose a unique business name for your online business.
Elements You should include in your business name
As an entrepreneur, you are full of business ideas, but your copywriting skills may not be as good as your business skills. In order to find the right name for your company, you can discuss it on online networks and communities, or gather some ideas from your friends and family (sometimes kids bring up the best names!)
Are there particular elements that make a name desirable?
Let’s have a look at a few qualities of a good name:
Recognizable: Based on familiarity
To compete against other businesses, you need a memorable business name. Customers should be able to recall your business name easily.
With this approach, potential customers can research the name later or refer it to other potential customers.
How can a business name be memorable?
It should be concise, easy to recognize, listened to, and pronounced.
Reminiscent: It evokes an image of your brand
A familiar name conveys an idea about a product or brand. The consumer should immediately understand what you are selling by mentioning your business name.
Theme: Suitable for the long run
Business names should allow for growth. For example, if you sell only dresses, you might want to add pants one day.
As well as offering services in a particular town, you may extend your service area to other cities.
Therefore, choosing a broad name will allow the company to expand without sounding out of place.
Touching: emotionally moving
Great business names evoke positive emotions. By itself, the name “Furniture Elegance” conveys a cozy feeling.
Online businesses with attractive names are more likely to attract customers. Your business name needs to reflect your values and goals, be visually stimulating, and be conceptually innovative.
Imaginary: It aids memory through visual evocation
The name of your business should instantly catch the attention of potential customers. It need not directly relate to your products but should express your customers’ interests, memories, and emotions.
Consumers can remember such a brand name when they use the products. A good example is “Starbucks,” rather than “Coffee Company.”
What to look for when choosing a business name?
So, what do you consider when choosing the perfect business name?
Keep these suggestions in mind:
Be attentive to spelling and pronunciation
Spelling and pronunciation are both essential parts of any successful business name.
Having difficulty pronouncing or spelling names may make it difficult for you to find online businesses. Select names that are easy to remember.
Establishing the correct tone
Entrepreneurs tend to choose a name for their online business based on their preferences and interests. To create the right impression, however, it is essential to make the right first impression.
It would be best if you asked the following questions while branding:
- Do you imply the kind of service your business offers directly or indirectly?
- Is your name included in it?
- Should you choose a name that is more traditional or modern?
It’s crucial to be long-term-oriented when considering a name for your business. Names that limit your future expansion are not what you want.
For example, adding male shoes to your ladies’ shoe business may not be possible if you call them Cinderella shoes.
Think about possible hurdles overseas
You should avoid business names likely to limit your overseas expansion.
For example, choosing the name “China Online Market” instead of “Alibaba.” That choice would limit that company’s universal appeal.
It simply describes what your business does
When naming your business, consider the search intent and the products and services you offer. Your business name should also trigger some emotions that will attract new customers.
When naming your business, avoid the following mistakes
Here are the most common business naming mistakes which you should avoid:
Names that are unrelated to the business
Using your business name to describe what you do or sell directly or indirectly would be best.
Be careful not to overdo it with your name. Using catchy names like “Tesla” or “Google” may sound appealing, but they will cost you significantly more to trademark.
Not checking if there is a .com domain
Think about buying a .com domain platform. Potential customers automatically assume that a domain ending in .com is established.
When launching your online business, reserve a .com domain name. Don’t be in a situation where your domain name has already been taken after branding.
Choosing a product-specific name
Your business’s name should not be associated with a single product, service, or geographical location. Using the name may no longer be appropriate if the company expands and offers other services.
You may also find expanding into other profitable markets challenging if you include your city in your business name.
Being too complex
Generally, it would help to aim for a more exact business name. People will not remember difficult-to-pronounce or spell words.
Because of that, you might not be found online by potential customers. Advertising materials, such as business cards, logos, and branding, must be concise.
Overly plain or literal name
You don’t want to undersell yourself by choosing a simple, easy-to-remember business name.
Stay away from names that sound too familiar, like Summit or Mountain. Rather, use word combinations that tell potential customers what you do.
Your company name is an essential marketing tool for your online business. It is a chance to establish your brand and make a first impression on potential customers.
Make sure your business name meets your customers’ expectations and propels your business forward. Of course, before choosing a business name, get multiple opinions.