Choose The Perfect Name For Company Or Business
You have to take many steps when starting a business, and each of them is important for some reasons. Selecting a business name can be one of the most accessible parts of starting a business or one of the most difficult. If you want to fall into the second category and struggle to find a good business name, we can help. These are our tips.
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Table of Contents
10 Rules for Choosing a Company Name
1. Clarity: Don’t Mix Up The Messages
The sound and style of your brand name should suggest what your brand does.
For example, if your brand name is YumÑum, this suggests food. Aluminum should not be the name of a SaaS financial services company. That would be confusing and show no commitment.
To achieve clarity, put together a list of keywords relevant to your industry or niche. If you’re starting a SaaS financial services business, you may have a list that includes the words “numbers,” “spreadsheets,” “accounting,” or “books.”
Having a clutter of relevant words will activate your brain to come up with an appropriate name. Perhaps Freshbooks came to its name that way.
2. Descriptive: The Company Name Must Sell The Brand Identity.
The brand name must be clear, and it must also be descriptive. The title should describe the industry, focus, attitude, and goals of the company.
It does not mean that the brand name must contain the product or service. It should capture the essence, benefits of the brand experience and in an oblique.
For example, Amazon, Chose a name that connotes massive growth and all-encompassing service.
The human brain is notoriously bad at remembering names—the brain stores names in its short-term memory or working memory or working. In everyday life, our working memory can be compared to our computer. It keeps the info we are working on active and present for a while, but it has many windows open, and the system begins to fail.
The downside of working memory is that we can’t keep track of it all at once, so we forget some things.
To be memorable, a brand name or a company must counteract the brain’s tendency to forget. How is this accomplished? Anchoring the brand name to another feeling, sensation, or attitude
Different types of memory are there. A physical and emotional sensation memory – the brain is more likely to remember it.
Here Are Some Suggestions For Creating Memorable Company Names:
Keep it short (discussed below).
Use familiar words or sounds.
Make it unique (discussed below).
4. Short: That Needs To Be Easy To Remember.
Researchers claim that the brain cannot handle a lot of information at once. The brain’s ultimate capacity is almost unlimited; it faces challenges in storing, processing, and retaining select bits of data simultaneously.
Don’t load the brain with a lot of information. A short company name increases memorability, engages people, and fluency of speech.
IBM, Uber, Buffer, Apple – brevity is a beauty.
Also Read: WHAT IS LAPTOP? – DEFINITION, BENEFITS AND MORE
5. Simple: Make It Easy To Pronounce.
Do not try to mix up words when creating a brand name derived from a common phrase. It will only confuse people.
6. Modernity: Don’t Follow Outdated Suggestions.
A brand must have a modern vibe to connect with everyday people. It would help if you didn’t go very far in that way.
Why not? Because a brand that is fashionable today could be entirely out of date tomorrow. It would be best to look for a name that will last for the next five years.
Old-fashioned instructions for creating a brand include recognizing available brand names and choosing a brand name based on that.
Choose your brand name advantageously, but don’t weaken your brand name by the availability of titles.
7. Unique: It Has To Be Unique.
Here we have neurological reasons why your brand should be unique. As long as it’s not too extravagant, a unique brand stays in people’s minds.
The business reasons for a brand to be unique are even more critical. When a company enters the market, it competes for a place in the target audience’s mind. If you don’t get their attention, you’re doomed.
Furthermore, even as brand cues increase in the digital marketing space, the brand’s very existence depends on its unique identity.
You will not rise in the ranking or be found by search engines if you choose a simple word like “spark” or “hammer.” It would be best to differentiate yourself by creating an entirely new dish or combining words that don’t break the cardinal rules of Simple, Memorable, and Short.
8. Attractive: The Brand Name Must Connect With Your Target Audience.
Saying that a brand name should be “cool” is pretty simple advice. Is it apparent, right?
It is why I am presenting it: a brand name should not simply be “attractive” in general (which is difficult to achieve) but should be attractive names for businesses, particularly for the brand’s audience.
To get to the perfect brand, you first need to consider who you are trying to reach. What language do they speak? What is your style? Your age? Your income? Their education? Your level of sophistication? Your interest? brand preference?
Let’s take the VinoMofo brand, for example. This brand focuses on the millennial, non-conformist population progressive. They are not aimed at wine-loving baby boomers, not with such a brand.
Your brand is a product itself. You have to sell it. Communicate the value, identity of your company, and purpose. When you can successfully connect all the dots between your audience and your brand, you will achieve true attraction.
9. Durable: Longer Than Your Name.
It would be nice if your brand survived you. One brand can have a revolutionary effect on a generation. When that brand is tied to a single individual, it is less likely to do so.
10. Make Some Sense.
Sometimes business owners will choose names that are nonsense. Peculiar words (Yahoo, Google, Fogdog) or trademark names invented from scratch (Novartis, Aventis, Lycos) are a significant risk. Check the international implications when creating the company name. More than one company has been embarrassed to learn that their name has harmful and even obscene connotations in another language.
Also Read: What Is Online Banking And How Can You Benefit?
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