A business name is a core aspect of any business. It is the identifier for your company and aids in marketing, advertising and product naming. When choosing a name for your business, you want to make sure it is relevant, easily remembered and unique. Consider the following factors when choosing a name for your business:
First and foremost, a good business name helps with marketing and advertising. Your company’s name should be catchy, easy to read and pronounce and unique. Avoid names that are popular with other businesses- this can make it hard to stand out from the crowd- and avoid names that are trademarked or have already been used by other businesses. A name should be factual, clear and understandable without referring to it. You want to choose a name that is easy of tongue- so customers can easily remember it and understand it. Additionally, the spelling of your company’s name is important; a mispelled version will undermine your brand’s credibility.
Next, you want to think about how easy it is to spell- this will affect how easy it is to pronounce for your customers. Alliteration is a great way to help pronounce your company’s name. Avoid unpronounceable versions of words or alienate potential customers with slang or abbreviations. You also do not want to alienate potential customers by excluding them based on their age or education level- certain segments of the population may be especially uninterested in your product if they do not understand what you are selling. For example, some older or less educated individuals may find abbreviations like ‘LOL’ hard to ‘ acronymize ‘. In addition, do not plagiarize or copy other business names- this can put your company at risk of violating trademark laws and lead to negative customer reactions.
A good name should be relevant, easily remembered, unique and spellable- always considering the age, education level and cultural background of your target customer base. You also want to avoid infringing on other businesses’ trademarks or copy other business names.