SEVEN RULES TO CHOOSE YOUR BUSINESS NAME
SEVEN RULES TO CHOOSE YOUR BUSINESS NAME.
Truly, you must follow several steps when you set up your business. In fact, each of them is important for certain reasons.
On the one hand, choosing the name of your company can be one of the easiest parts when starting a business, on the other hand, it can be one of the most difficult. We can help if you are struggling to find a good company name.
Here are the Seven rules to choose your business name:
RULE NUMBER 1
Clarity. Do not mix the messages.
In fact, the sounds and style of your brand name should suggest what your brand is dedicated to.
For example, if your brand name is YummyYummy, this suggests food. YummyYummy should not be the name of a financial services company. That, indeed, would be confusing and would not show commitment.
Furthermore, to achieve clarity, subsequently, build a list of relevant keywords for your industry or niche. For example, if you are creating a financial services company, you may have a list that includes words like “numbers”, “spreadsheets”, “accounting”, or “wealth”.
Just as, having a hodgepodge of relevant words will activate your brain to come up with a relevant name. Consequently, maybe WellWealth came to your name this way.
SEVEN RULES TO CHOOSE YOUR BUSINESS NAME
RULE NUMBER 2
Descriptive
Similarly, just as the name of the brand must be clear, it must also be descriptive.
In fact, the name should describe the industry, attitude, focus, and business goals. This does not mean that the name of your brand should contain the product or service. In contrast, it must capture the essence, experience, and benefits of the brand in an oblique or suggestive way.
For example, Amazon, chose a name that connotes massive growth an all-encompassing service.
SEVEN RULES TO CHOOSE YOUR BUSINESS NAME
RULE NUMBER 3
Memorable. Easy to remember
Without a doubt, the human brain is remarkably bad at remembering names.
Do you know why? In should be noted that the brain stores names in its short term memory or working memory.
In fact, in ordinary life, our working memory can be compared to our computer. The memory keeps active and present for a time the information that we are working on, however, it has many windows open and the system starts to fail.
Importantly, the disadvantage of working memory is that we cannot keep track of everything at once, so we forget some things.
For that reason, to be memorable, the name of a company or brand must counteract the brain’s tendency to forget.
How is this achieved? This is achieved by anchoring the brand name to another feeling or attitude.
In addition, if the name of your brand can stimulate the type of memory of physical and emotional sensations, then the brain is more likely to remember it.
As an example, here are some suggestions for creating names for memorable companies:
You should create your business name short, at the same time, make it unique, and finally, use familiar words or sounds.
RULE NUMBER 4
Short
Remarkably, one of the most cited articles in psychology has this casual title: “The Magic Number Seven, Plus or Minus Two.”
In this article, the researchers claim that the brain cannot handle much information at once. Although the final capacity of the brain is virtually unlimited. The brain faces functions to store, process, and retain the information selection bits simultaneously.
Therefore, do not load the brain with a lot of information. A short business name increases the memorable, the fluency of speech and traps people.
As an example, just to mention few business names: Uber, IBM, Buffer, Apple. As mentioned, short is a beauty.
RULE NUMBER 5
Unique
Accordingly, there are neurological reasons why your brand should be unique. As long as it is not very extravagant, a unique brand remains in people’s minds.
However, the commercial reasons for a single brand are even more attractive. Indeed, when a company enters the market, it competes for a place among the minds of the target audience. In fact, if it does not catch your attention, it is doomed.
Moreover, although the brand’s signals increase in the space of digital marketing, the very existence of the brand depends on its unique identity.
Thus, your business will not go up in the ranking or be found in the search engines if you choose a simple word like “spark”, or “hammer.”
Clearly, you must differentiate yourself by creating a completely new word or a combination of words. Despite, do not break the cardinal rules of the Simple, Short, and Memorable.
RULE NUMBER 6
Attractive
Besides, to say that the name of a brand should be “attractive” is pretty simple advice.
Whereas, a brand name should not simply be “attractive” in general, which is difficult to achieve. Alternatively, should be attractive business names, particularly for the brand’s audience.
Then, to reach the perfect mark, you must first consider who you are trying to reach.
You should ask the questions:
What language do they speak?
What is your style?
What is your age?
What is your income?
Which is your education?
What is your interest?
What are your religious preferences?
Also, I recommend not choosing a rudimentary or standard word. Uber is forgiven because it is not a common word. Apple is forgiven because it is huge.
You should make your own hybrid word.
In conclusion, your brand is a product itself. You have to sell it.
Not only, communicate the value, purpose, but also, identity of your company.
Without a doubt, when you can successfully connect all the points between your audience and your brand, then, you will achieve a real attraction.
RULE NUMBER 7
Available
Importantly, you should make sure your brand name is available.
You can search for the official registered businesses and domains.
Indeed, to find out if your business name has been claimed online, do a simple web search to see if anyone is already using that name. Also, you will need to check whether a domain name or web address is available. You can do this using the WHOIS database of domain names.
Definitely, if it is available, be sure to claim it right away.
