Setting up an online identity for your retail business is almost the same as raising a child; it takes time, patience and strong will to lead it in the right direction. Once you get a kid, the first thing you will do is name the little bundle of joy. And, once you are ready to start your online store, you will have to think about your options in order to make it work.
Naming is the first step in the process of branding, and becoming a brand should be your ultimate goal because, let’s face it, if you can’t make a recognizable brand from your business, you will be left behind.
What Are the Criteria for Choosing an Inspiring Name
Before even thinking of potential business names, you’ll have to ask yourself what do you want your name to stand for; how will it represent your business, and how will it show you as the right pick for your clients? Make a list of criteria and don’t stray away from it at any time. This is the hardest part of the whole naming process. Your visionary skills have to work at their fullest capacity. Your name should certainly be innovative, maybe even edgy, but at the same time, your decision should be backed by rational thinking.
In a way, the name should paint a picture to anyone who hears it. The biggest Asian retail store, Alibaba, did a great job there. Once people think of this name, they think of the story of Alibaba and his infinite treasures, and that’s exactly what this store is; an infinite choice of goods, all in one spot.
Of course, you’ll have to keep in mind the branch of industry you are in (clothes, makeup, hardware, etc.), what does the name mean to you and your potential clients, what do you want people to think when they hear it, how will your name match your logo, etc. Keep in mind that 99 percent of what you will be doing will be done over the net. Online, in order to be considered as inspiring, you have to be unique, attractive, sales oriented and client friendly.
The best way to go is by keeping it simple and recognizable. Marketing experts agree on one thing; any business name should be one or two words max. Why? So that it can stick inside your head instantly! It should also be easily pronounceable and easy to type on a keyboard. In this case, less is more for you.
The great thing about naming your brand is that it doesn’t even have to be a real word. As long it is original, it will work. Take Google, for instance. It doesn’t mean anything, yet today, it means everything to many. Your name can also be an abbreviation, as long as it’s not too complicated. Also, the letters should be coherent. Let’s face it, KFC is way more logical than LDIYL. The name should strike the essence of what you are doing by leaving an “echo” in the eyes and ears of the consumers.
How Will You Find the Right One
Ideas are everywhere; you just have to stay focused in order to catch them. The way most people suggest (and it has proven very effective) is brainstorming. Take a few elements related to your branch, put them in front of you and write down anything that crosses your mind while looking at them. You’ll surely write a bunch of nonsense, but something from the vast sea of ideas will lead you to your answer, or even better, answers.
Another method often used in this process is playing word games until something usable comes to mind. Here’s an example:
Let’s say that you are planning to sell hardware online. You consider yourself the alpha and omega of hardware sales; in a way, you think you are hardware itself. Then, your name could come from the phrase “We are hardware”, leading you to a shorter name, “VRhardware”, or even better, HardwareVR which could be used online with a .vr domain, giving you hardware.vr. Cool, right?
You could do this all day, until you come across something you like.
Then, you can put your names into beta testing mode and check out how the people closest to you react to them. This can be effective if your friends and family can be objective and a bit harsh.
This brings you to the final stage of your quest. A short list of potential names can be tested with a wider audience over social media or via surveys, which can show great results. The people included in surveys are your prospects and, if something sounds good to them, you will find it acceptable as well.
Use Online Resources in Name Creation
If you don’t want to spend so much time and creative energy in the process, there are a bunch of websites that offering their services. You can fill a few boxes explaining your business, what you want from your name, and you will get a few generated options you could use in the future.
Sometimes, it’s better to go with this option. There is no personal attachment to the name; objective minds or, in this situation, computers sometimes see things more clearly than you ever could.
The best thing about these services is that all of the names are checked for copyrights and ownership. Also, most of these little online helpers provide you with the best available domains that fit. You won’t only get your brand name, but you will also combine a little branding and marketing, creating a good foundation for building your whole business presence even further.
Branding is everything nowadays and your name is the first step towards creating a lucrative brand. Just keep in mind identity, clarity and effectiveness as your main guides. A good name echoes loud and wide, bringing success and trust.