7 Tips for Creatig a Successful Business Name

Are you starting a new business? Or maybe you already have a business, but you feel like your current business name is no longer appropriate. If you’re trying to name your business, how do you choose a company name that people will remember?

If you’re like many entrepreneurs, your initial thought is to use your own name. It’s an assertion of your pride and your opportunity to leave a legacy. Others prefer a no-frills approach and choose to simply describe the services they provide. Some like to assert their creativity and assign an inspirational adjective to their business name, or consider a fabricated name. All are viable options, but each has pros and cons. The key to a successful name development is to choose one that will directly and positively affect your company or organization’s brand perception, and use marketing and public relations strategies to ensure that your name is top of mind with your clients and prospects.

If Only There Were a Book of Business Names. Most business owners understand that it’s in their best interest to bring in a professional to help develop their marketing collateral, from copy, to web design, and brochures, they don’t often give the same merit to creating their company’s name. However, realize that your organization’s name is often your most circulated aspect of your marketing. It is on your website and often your URL. It is on your voice message, your product packaging, your email signature line, your business cards, and more. Your company name can be transmitted hundreds or even thousands of times a day. If your name is difficult to pronounce or spell, you target market won’t try to remember it or connect with it. If you are going to position your business for success, you need to create a memorable name that is meaningful, positive, visually tangible, and something that you can successfully protect in the future.

Make Your Name Memorable. Think about how many people you’ve come into contact with for the first time this last year. How many do you remember? Why is it that some captured your attention while others have already been forgotten? It may be they had a particular physical attribute that caught your attention, or a personality trait you connected with. The same holds true for your organization’s name. Does it captivate the positive attributes of your people, your products and your services?

Make Your Name Meaningful. Creating a name without a connection to what your organization does or how it benefits your target market is a missed opportunity. It becomes difficult to effectively brand your business when the name lacks this connection. As a result, companies often have to spend more to design additional marketing around the name to make it work.

Make Your Name Positive. If you want to create a strong connection with your target market, you must do your research to get to know your ideal customers. With this knowing, you can identify positive influences for your market and incorporate them into your business’ name.

Be Aware of the Natural Visual Influences. When people see a logo, they connect with the shape first, followed by the color, and then the text choice. Most business owners fail to realize this when designing their logo. If you follow these rules in order, you will be more successful in creating a logo that is memorable.

Plan for the Future. Entrepreneurs create new businesses with plans for future growth and evolution. Your business name needs to take these plans into consideration. Choose a name that will stay relevant with your future products and services.

Be Smart. Protect your brand. All of the core components within one’s corporate identity program (name, logo, tagline) should be researched by an intellectual property attorney upfront to ensure that no conflicts exist. Better to pay a lawyer a little now than a lot latter if you find yourself caught in fighting for or defending copyright or trademark infringement.

Brand is about perception. You cannot drive a stake in the ground and proclaim your brand, as it’s really up to your customers and prospects. However, you are in control of how your audience comes into contact with your brand and when they do, you want to arm them with the opportunity to see you, your products and services in the best possible light. Through effective market positioning, you will ensure that when prospects come in contact with one of your brand touch points, they’ll remember you by name.

Dina Wasmer is President of Incite Creative, Inc., a marketing and graphic design firm that specializes in strategic positioning, brand development and implementation services for companies and organizations that seek customized solutions and maximum results. For more information, visit www.incitecreativeinc.com or call: 410-366-9479 ext. 2#.

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