Did you know that your business name can make or break your chances of success? When consumers hear the brand Amazon, for instance, they picture a multi-billion dollar company offering every type of item they might ever need. Jeff Bezos originally intended to name it “the everything store” before deciding that the word “Amazon” was a much better fit. A name evoking the river’s vastness, it was perfect for what would become one of the biggest e-commerce companies of today.
For entrepreneurs, naming a business could be a complicated process. And although there’s no exact formula for the perfect business name, there are a few guidelines you can follow. Here are some of the most important ones:
Naming a business entails researching and looking for unique names that are new to the public. This could pose quite a challenge, as you might want a name already taken by another business that has entered the market. Using a Business Name Generator could help you check its availability or give you variations to make your business name unique. It could also inspire you and your branding team if you need more in that department. Type in your business keywords and get creative.
If you want your business name to grasp customers’ attention, then it should be able to tell a story. It should pique consumer interest and reflect the attributes you want to convey. Nike has been a long-time giant in the sportswear market, valued at more than $33 billion as of 2022. Originally called “Blue Ribbon Sports,” the company rebranded itself in 1971 and took the name Nike from the Greek goddess of victory. Such a narrative is encouraging to the company’s target market, which is primarily athletes and fitness buffs.
A good name must also be able to move people. Business names can tell a lot about the people working there and what the company values. For example, 100% Pure is committed to creating cruelty-free and natural makeup and skincare products. Similarly, beauty brands such as Lush, BareFaced Beauty, and Ethique Beauty send their respective companies’ messages just by their names. This also invites people who value the same things to support your business.
Your business name also matters to your overall branding identity. According to Search Engine Journal, solid branding from your business name can carry over to your website, social media profiles, and your presence in the industry. A social media presence, in particular, is integral to a business’s success in the modern world. Customers also appreciate brands that grow and develop over time, which is why you need a business name that can grow with you.
Lastly, “sticky names” for businesses means a name is accessible for customers to remember. Words that are simple, easy to pronounce, and evoke some image are helpful for brand recall. Ideally, it would help if you avoid names that are hard to spell, obscure, or too similar to competitors’ names. One way to measure brand recall is to conduct surveys and ask customers what they recall about your business and its products, services, or markets.
The bottom line is that your business name should connect and give a lasting impression to those who encounter it. And because you know what’s best as a business owner, it’s also vital to reflect your vision for the business’s future.
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