Coming up with a creative company name shouldn’t be too hard. You need a name that you will like, and that your target audience will find easy to remember. However, it’s far more complex than that. The name is something you want to brand and to be proud of when you become a more dominant company. So, you can have a fun name and you can create some buzz around it, but it might not prove to be useful in the long run.
Additionally, the name you choose will determine how easily you can be discovered, and how you can build an online influence, so it’s always good to think about it some more before making your final decision. The following article will state some of the benefits of a good company name, and point out some of the flaws and drawbacks of doing it wrong. The goal is to help you name your company so that it can spur your business into a lucrative future.
Benefits of a good company name
First, let’s point out what a good name should do for your company, and how it can help your upcoming business ventures. For starters, your name can help you establish your own identity and secure a certain dose of differentiation from all rival companies. It also needs to set the right tone for your business, and denote some of the principles that your target audience admires. It needs to give people who are employees and who are consumers a sense of belonging. It needs to help enhance brand value and inspire brand loyalty.
As you can see, a name can serve a potent multi-dimensional role. So, if a name has this much influence, then selecting a bad name means that you are not tapping into this immense potential. So, gather as many people as you can to brainstorm about the name and conduct a minor survey to get a second opinion. See if the name you come up with can serve the roles that were mentioned. And also see if it’s available; do not take an already existing name, because there is a mountain of problems you can encounter.
You need to send out a message that you think big
You might have an attachment and a healthy dose of appreciation for your hometown or country. So, it’s not uncommon for people to add the name of their location to their company name. First of all, it’s not completely bad when you do so, and from an SEO perspective, it can be desirable if you want to rank on a local level. However, you can do that even without naming your company after your location; without a location, you will be sending a more powerful message.
When you add a location to the name, it can mean that you are only interested in that area; basically, you have limited ambition. It may also appear that customers who are not from those parts are, in a way, excluded. In other words, it is always better not to use the name of the location in your company’s name. It is more neutral this way, and you do not create any kind of misconception in the mind of the user. On the other hand, if you are really interested in staying only in one place, to serve only the people from a particular town, then there’s no reason not to do it.
If you don’t stand out it’s harder to find you
It was stated already how a brandable domain name can have great impact on SEO. For example, if your name contains the name of your product or service, then it can also be used as relevant content. On the other hand, if you make your name too common, then people might have a difficult time finding you, because a lot of other companies have a similar name, thereby you are lost in the vast sea of other providers.
Again, even being too obscure is not the way to go, since no one will even google the word you want to rank for. Essentially, you need to do some research on the keyword search rate and see if there are a lot of people ranking for it. This way, your name can help you differentiate yourself from competitors. Alternatively, you can buy a domain name that is for sale, and that is strong. Sure, you don’t get to have a say in how your company will be named, but it is a safe bet, and you can choose something similar if it is available.
If it’s not working change it
Lastly, it’s perfectly plausible for you to create a name that people might not like as much as you have hoped, or to create a name that won’t perform as well as you have hoped. In that event, there is no need to be stubborn, and go with it just because you like it. You need to think about a different name and change your current one. If things are not going in the right direction, there is no need to keep going.
You’ll look much sillier if you continue in the wrong direction; just turn back and start over, admit you were wrong and bury the mistake in the past. Besides, people won’t remember that thing forever; something else will happen and they will forget all about it.
As you can see, these are some aspects of business that are influenced by its name. These are not things that are to be taken lightly, so take them into consideration during your brainstorming sessions. We are confident that the article was insightful and that it will serve as a good guide when you decide to come up with a great name for your business.