To paraphrase William Shakespeare, a rose by any other name would smell as sweet, but it won’t help your online business. So, why is it of paramount importance to choose the right name, and how can you go about finding a name which reflects your personality, brand, and business concept?
What’s in a name?
Your business name says a lot about you and for many customers, it’s their first impression of you. Choose a generic name and you could lose orders because you’re confused with your competitors. Remember that the internet is a global phenomenon and you’ll be listed with other businesses from Cambridge to Canberra.
On the other hand, if you go for something too obscure, your business might not be picked up by search engines when prospective customers enter their keywords.
What are the different types of business names?
Broadly speaking, business names fall into 3 categories:
- Trade name: Inventing your own name as Google gives you a unique identity, but it isn’t easily recognized when customers search online.
- Exact match domain: Your type of business is easily identifiable and SEO friendly but it may have already been used by others.
- Combination of the above 2: It will be SEO friendly, easily recognizable but you need to think of something that is unique.
Picking a business name
You should first do your research. Think about what kind of values you’re trying to convey with your business idea. You must always keep a clear picture of your ideal customer too and what would appeal to them.
Brainstorming is a great way to start – jot down as many ideas as you can think of. The more outrageous, the better! Think about your past experiences (both personal and professional), inspirational quotations and trends/stories which are in the news. Draw up a list of common idioms and figures of speech which could be turned into puns. Using humor is often a way to ensure your business name is memorable. If you speak any foreign languages, experiment to see if a foreign word can be incorporated into the name.
There are also plenty of free business name generators online. You might not necessarily like all the suggestions, but these names can be tweaked to fit your business concept and character.
Once you’ve made a list, go through the names with family and friends. Often, an idea that you have can be transformed into something truly original with the input of others. They will also be able to help you narrow down the list so you discard the names which are too obscure, difficult to pronounce/remember or which are easily confused/too similar to an existing brand.
Finding the right name is just the first step in a long line of challenges that lie ahead of you. If you run short of cash when setting up your business, offer payday loans online. This reputable lender can help you get started.