Naming
There are different takes on naming out there, I am of the belief that names while important don’t necessarily equate to success. If you had just heard of Google, Zillow, Xerox, or Ikea you might be left clueless as to what it even relates to and write it off as a non-sensical word.
A bit of trivia, do you know what GEICO stands for, other than providing affordable automobile insurance?
Government Employees Insurance Company
Doesn’t exactly roll off the tongue, does it? This name surprisingly dates back all the way to 1936 when Leo Goodwin Sr. and his wife Lillian Goodwin created GEICO to provide car insurance for federal employees. Times have certainly changed then and GEICO offers its services to a broad market which allowed them to bring in $39B of revenue in 2022.
Coming up with a name for your new business can be an exciting yet rather challenging task. Do you want it to be an acronym like GEICO, an actual word, or maybe a play on words? This is a process you don’t want to rush as changing your name is not only a huge undertaking once underway but also can detrimentally affect your business once there is a brand attached to it with loyal customers. With endless ways to go about naming, below are some guidelines to follow so your business name resonates with your customer base and will stand the test of time.
1) Define Your Brand: Start by clarifying your brand identity. What does your business stand for? What are your core values and mission? Understanding your brand will help you come up with a name that aligns with it.
2) Understand Your Target Audience: Who are your target customers? What do they value, and what language do they speak? Your business name should resonate with your audience.
3) Brainstorm Keywords and Concepts: Make a list of keywords, concepts, and ideas related to your business, products, or services. These will serve as the building blocks for your business name.
4) Consider Unique and Memorable Names: A unique and memorable name can set your business apart. Avoid generic names that may get lost in the crowd. Think about names that are easy to spell and pronounce.
5) Check Availability: Ensure that the name you choose is available as a domain name for your website and on social media platforms. Consistency across these platforms is important for branding.
6) Avoid Legal Issues: Check for trademark conflicts. You don’t want to choose a name that’s already trademarked by another business. You can use the United States Patent and Trademark Office (USPTO) database or consult with a trademark attorney.
7) Get Creative: Experiment with different word combinations and wordplay. Think about puns, alliteration, and symbolism. Ask for input from friends, family, or colleagues.
8) Keep It Short and Simple: Short and simple names are often more memorable. Avoid overly complex or lengthy names that can be difficult for people to remember or type.
9) Consider Future Growth: Think about how the name will fit if your business expands or diversifies its offerings. A name that’s too narrow may not work in the long run.
10) Test the Name: Before making a final decision, test the name with a focus group or potential customers to gauge their reactions and associations.
11) Visualize the Logo: Imagine how your business name will look as a logo. A name that can be easily translated into a visually appealing logo is a plus.
12) Get Feedback: Don’t be afraid to ask for feedback from others. Sometimes, an outsider’s perspective can be very helpful.
13) Sleep On It: Once you have a shortlist of names, take your time to consider them. Sometimes, a good night’s sleep can help you make the right decision.
14) Register the Name: Once you’ve chosen a name, you must register it with the appropriate authorities based on your location and business structure.
15) Brand Identity: Develop a strong brand identity around your chosen name, including a logo, tagline, and marketing materials.
Remember, your business name is a long-term commitment, so take your time and choose a name that you’re proud of and that will serve your business well as it grows.
Photo by Tim Mossholder on Unsplash
Author | Tyler Vaughn
