When you already know you are going to open a new business, one of what should be the more simple aspects of getting the company up and running is deciding on a name. Different names will probably be flying through your head before one sticks. However, before you do allow that final name to stick, check some of the tips below to make sure you tick all the boxes when it comes to creating a memorable name that clearly identifies your business and will not cost you an arm and a leg for marketing.
If you are stuck for ideas of what to name your business, then try out a business name generator to see if this can help you kickstart your imagination. Just remember that once you commit to your business name, your entire branding will be centered around it, meaning it can be costly to change!
Make your Business Name a Memorable One Without Confusing People
There is a happy medium involved when you choose a memorable business name. Some like Funky Loaves for a bread shop are perfect. It’s short, it’s memorable, and loaves can only mean your business sells bread. If you want to avoid confusing people, or you want to state the obvious, then Funky Loaves Bakery works well too. Plus, you can shorten this name to FLB, which are also memorable initials.
Other clever ways to name your business with a memorable phrase would be to use common initials like TLC (Tender Love & Care) but change the wording. Technical Language Courses Ltd for a company that sells language courses.
A Business Name That Does Not Clash with SEO or Facebook Searches
One way to save costs on digital marketing is to make sure your business name is very unique. Therefore, it needs to be unique and also one that no one else is using. For example, Zappos is a major online shopping company. Not only is its name memorable, but it is also unique. When you search for Zappos even outside of the US, its name always hits the top of the search engines. So why is this important?
Well, let’s imagine you call your business Apple Security Systems (ASS) or simply the New York Patisserie & Bakery (depending on the business niche your firm will enter). When it comes to searching for your business, you’ll meet tons of competition. Although Apple Security Systems has a nice comical value to it, the chances are you will have to fork out a fair amount of cash to ensure your business ranks above other companies selling Apple products and Apple itself, while the name New York Patisserie & Bakery is going to bring up all kinds of competition too.
Having a simple but memorable name that is unique will ensure people will find your website the moment they search for it on social media or search engines like Yahoo or Google.
Ensure Your Company Name Identifies your Business
Back in the day, when firms like Apple Inc were inaugurated, business names were easier to create. There was less competition, it was easier to impress upon C2C, B2C, and B2B business domains what your business is about with plenty of advertising space out there, and fewer places for people to look. Today things have changed. There are email ads, phone ads, mobile app ads, Google ads, and a myriad of other places people can look. As such, your business needs to stand out immediately.
Imagine looking for an IT or tech company these days and seeing ‘Apple Inc’ if you had no idea what this brand is all about. You’d probably skip it because it doesn’t speak out for the type of company it is. Only because Apple is a well-known brand today can it get away with it.
Therefore, if you are a landscape gardening company, restaurant, shipping company, or IT firm, be sure that your business shows this. However, there are exceptions to the rule. If your business has a huge advertising budget and reach to advertising space that you know will effectively reach your target market, you can get away with it. You can also use a slogan to reveal the business purpose.
Check No Other Companies Share Your Business Name Before Branding
Most countries have a website with public information available on other businesses. This allows you to check that no other businesses are using that business name. For example, in the UK there’s ‘Companies House’. What’s more important here is that you make this check before you start to design logos, stationery, letterheads, signs, and so on. If another company already has the name you want to use, and it is registered in the same country you will do business in, you will not be able to register the same name.
Summing Up Business Names
Your business name should be memorable, not clash with other business names (in or outside your niche) to avoid additional digital market costs. If your company is on a tight start-up budget, make sure the name of your firm makes it obvious which trade it is in. Importantly, make sure to check to see if your desired business name has already been registered before you create a logo or start to create signage, letterheads, buy a domain name for a website, and so on.