There are few things in business as important as a name. After all, your unique name is the first thing people see about you and the last thing they think about before they decide to buy or walk away. What does your business name say about you? You’d be surprised at what you’re saying- or what you’re not saying to your customer base. More than an identifying feature, a brandable business name is an important part of overall strategy and can play a significant role in impacting your bottom line. Here are a few things to consider about your business name and what it says about you.
More Than Identifying Your Company
Think about some of the most memorable company names. What do they have in common? Aside from identifying a specific business, most names evoke images or feelings. Cottonelle is a popular brand of toilet paper. The name references cotton- not a bad image for a product that relies on being soft and fluffy. Other business names are strong and robust, like Mozilla or Amazon- designed to conquer the competition. The point is, a name does more than identify your company, it also stirs up an image, creates associations and leaves an impression.
Builds Trust and Credibility
The internet is overrun with D.I.Y. businesses and the truth is, almost anyone with a website and a product to sell can start a “business”. The right company name is an essential part of building trust and establishing your business as credible. When consumers choose a product or service, they like to know that it has a reputable, brandable name behind it. If there are problems or reasons to contact you, an email address with a legitimate business name is a sign of professionalism and longevity. Without a solid name, customers may be forced to address their concerns and questions to something less professional. And while it may be a cute email for friends and family, onesexyguy @email.com isn’t going to earn you a whole lot of credibility.
You’re Different…and Here’s Why
Differentiators are your points of difference- your competitive advantage and what ultimately separate you from your competition. That unique value added quality that no one else provides, that’s your “X” factor and what will help you hone in on a particular aspect of your target market. Are you faster and more efficient than your competitors? Are you the highest quality available or both? Maybe it’s as simple as being the most accessible. Differentiate yourself in five words or less and your name is saying to each and every person who sees it, “We’re better and here’s why”.
Brandable Names Maximize Your Business
The right name can add value to your brand, giving your customers the peace of mind that you are professional, reliable and trustworthy. It’s a tool for maximizing your business and a smart strategy for legitimizing the products or services you provide. Do you think your company name is doing everything possible for your business? Here are five characteristics of brandable names with staying power:
- The “stick” factor - Instantly memorable and sticks in the mind
- Short and spunky - Research confirms, two syllable names are easy to say and easy to remember.
- Approachable - It doesn’t have to be boring, but it should connect to your target audience in a positive way.
- Inspirational - To you, your name may be ordinary, to others, it can be inspirational, even tell a story.
- Strives to be Different - It’s fine to name your business after what you do. It’s even better to be creative. A distinctive name is a memorable name.
Choose the right business name and you stand to benefit, taking your target market where you want them to go. Choose the wrong name, and you could be pushing away thousands of dollars in revenue. Is it that simple? Not really, but a well chosen name tells people not only who you are, but what you do and how you do it. For building trust, establishing credibility and maximizing your potential, a few select words have more to say than you might think. If you want to be fierce, make sure your business name shows it.