If you’re setting up a new business, in addition to making sure that you have a good product, you’re going to need to come up with a memorable and catchy name for your company. But how exactly should you approach the process of coming up with the right name? Allow us to help, with this simple guide.
What’s In A Name?
Above all, a great brand name must be easy to remember. It doesn’t matter whether you make a name up entirely, like Google did, or if it’s something descriptive of the product. Just make sure that it’s catchy and keep it as simple as possible, so that it’s not hard to remember or difficult to spell.
The name of UK greetings card companies Funky Pigeon and Moonpig, for instance, bear absolutely no relation to what either of the businesses sell. But with weird and wonderful company names, backed up by bizarre television ads with catchy jingles, there’s no chance of consumers in Britain ever forgetting about these two companies. That said, it’s also important to think about your target market, if you’re going to invent wacky names.
In the world of gambling, Asian companies such as Dafabet have struggled to penetrate African and European markets. The main reason is that people just don’t understand what the brand name means. Whereas, if you look at Arabianbetting.com, the name makes it perfectly clear what this business does. If you have questions about anything at all to do with gambling in the Middle East, you can immediately tell that this is the right place to start. Whether it’s about betting bonuses and promotions, the best odds or which sites have what licenses or payment methods.
What Makes You Unique?
When choosing the best company name for your new venture, you need to think about what it is that you actually do. What differentiates you from your rivals? What is your purpose? Why would a customer buy into your business?
Your brand is more than just a physical logo stamped onto your product, or a brightly coloured name on a website. It’s about how people are going to feel when they use your product. And if you can communicate that through your business name, you’re onto a winner.
Look at The Body Shop, for instance. You don’t need to know anything about cosmetics and beauty products to be aware of what it is this business stands for. The company was built on creating natural products that wouldn’t damage your body with harmful chemicals. They are also widely known for maintaining an ethical and environmentally conscious approach. One great example of this is their fight against testing cosmetics on animals.
Test It Out
Once you think you’re happy with your company’s new name, it’s important to test it. Show it to people, but not your family and friends who may not be honest with you, to spare your feelings. Try a focus group, or just share it online. People don’t hold back on the internet!
You should look to see if they can pronounce it properly. Does the word maybe mean something offensive or funny in a different part of the world? Does it just confuse people? Can you register the right URL and social media handles to go alongside the company name, or are they already taken and too expensive to acquire?
If testing throws up any problems, don’t be stubborn. It’s important to get the brand name right early on. Don’t be afraid to go back to your second or third choice name, or even back to the drawing board entirely, to start all over again, if required.
Once you’ve settled upon your new name, make sure to protect it with some kind of trademark. This will protect you against anyone trying to leverage off your company’s name, should you enjoy success. It will also prevent you from accidentally infringing upon the trademark of any other companies that you were not aware of, who may have a similar name.