What’s in a name? Everything, if you’re a business. A great business name is more than just clever. They’re innovative, exciting and engaging. A great company name is the foundation of a fantastic company and an enduring brand. So, what’s the secret to naming success?
Some experts believe that the best names are abstract. Others believe that a great name should be informative and intuitive. Many brand consultants insist on a playful approach, while some prefer a more practical position. In reality, any name can be an effective foundation for your brand and business, provided it’s backed up by the appropriate marketing strategy.
Naming your business is nothing to take lightly. The following are some characteristics to keep in mind when playing the name game.
Naming a brand isn’t just about being cute or clever; it’s also about being visible. “Before you set your heart on the perfect name, do a quick domain search. Nailing down a strong and available URL is extremely important in today’s modern marketplace, so exercise due diligence,” explains Chris Dugas, Partner & Managing Director at ZOO Media Group. Brand awareness is key, so try to avoid any unnecessary confusion with existing companies. Once you’ve found your name, make sure you take immediate steps to secure it.
Nike, Apple, IBM, Google, Facebook – these successful companies all feature short and punchy names. Studies have shown that brevity leads to memorability, so kick any complex names to the curb and keep it simple.
Want a great business name? Then make your own language. Gizmodo, Weebly, Lego – the list of successful companies with made-up names is long. A company that prides itself on innovation needs a name that’s equally experimental and fresh. Try combining two words or spelling a word incorrectly for inspiration. Customers appreciate businesses that are independent and have the ability to think outside the box.
The best businesses names aren’t forced. They’re natural, simplistic, and smart. Take Apple, for instance. The world’s most innovative computer company got its fruity name because Steve Jobs used to spend a lot time in an orchard in Oregon. Inspiration can come from anywhere, so be open. If a name resonates with you, explore it. The best brand names have a stickiness that’s impossible to shake.
Many start-up businesses fall into the trap of naming their company after geographic or generic terms. What happens when the “Toronto Glass Company” wants to expand to Montreal? What if they want to diversify and get into the plastics business?
Coming up with a great business name can sometimes be a complicated and frustrating process. In order to save some time and trouble, consider enlisting a branding expert with corporate naming experience. Naming firms have elaborate systems for creating new names, plus they have extensive knowledge concerning trademark and copyright law. Brand naming consultants can be pricey, but spending a reasonable amount of money early for expert advice could save you in the long run.
Some of the best businesses in the world have changed their company name. For example, Xerox was originally known as The Halloid Company, Nissan was Datsun, and LG used to go by their full name: Lucky and Goldstar Co. Even the almighty Google started out under a different name: BackRub.
It’s never too late to change your brand name for the better. Contact the London, Ontario branding consultants at ZOO Media Group today for more information on our brand naming services and other business branding strategies.