Top 10 tips which you should keep in mind if you’re going to name your business
In my 10 years of experience, after founding several businesses and talked with many small business owners and entrepreneurs, I found that there’s a very common struggle that we all faced is to come up with a great name that will serve the purpose of our company. It’s the first beginning hurdle many people face during their startup or business naming
- 1. It’s quite lots of work to name a business.
- 2. Top 10 tips to name your business
- 2.1. The name should express the idea
- 2.2. Don’t narrow down it too much
- 2.3. Don’t make it too general
- 2.4. Short, simple and easy make a name remembering
- 2.5. Avoid Obscure names
- 2.6. Find every possible name associated with your business
- 2.7. Take opinions of others regarding your name but avoid committee
- 2.8. Avoid trending names
- 2.9. Geographic names can put the limitation
- 2.10. Make sure to check your competitors
- 3. Conclusions
A beginner naming a company can become frustrating, time-consuming and aggravating. But in the other hand, a strong business name is also important as 77% of consumers prefer brand names and have buying decisions based on this.
In 2014, after spending more than 40 hours, we came up with “eCoupon“. Some businessmen spend more than that time to find a name for their online business. After all of this, you still need that name to be registered as a domain of your website.
1. It’s quite lots of work to name a business.
To make everything better, this article on company naming was published on NameClerks.com. Now, instead of wasting so much time, just a few minutes reading these tips, you can easily find a great name as well as a good domain name for your business too. Read more: Top 10 Best Tips for Choosing a good Domain name
After all of this, it will take you just a few moments to register that domain with GoDaddy.
2. Top 10 tips to name your business
Here are 10 tips which you should keep in mind if you’re going to name your business.
- The name should express your business idea
- Don’t narrow down it too much
- Don’t make it too general
- Short, easy and simple makes a name remembering
- Avoid obscure names
- Find every possible name which associates with your business
- Take opinions of others regarding your name but avoid committee
- Avoid trending names
- Geographic names can put the limit
- Make sure to check your competitors
2.1. The name should express the idea
The company name plays an important role in building your identity, brand and online presence. The name will appear on your website, business card, promotional products, letterhead and many more.
The name should be clear enough to define your company and its products or/and services.
Try to create a name which will clear the customers perspective towards your company in the very first time. This is important for service-oriented business so that customer will quickly recognize what type of service they are providing. Names like “Online Men Shoes“, “Cheap Student Loan” or “Cheap VPS Hosting” are examples of how names point clearly to business.
Freelancers also consider creating the brand for themselves so that for the customer it will be easier to find out you.
2.2. Don’t narrow down it too much
In this evolving world, nothing is ultimate so your business is also. If you’re selling Men’s accessories but later you want to expand your business to Woman’s accessories too. Then, your business name should fit your growing business this way. Don’t narrow down it too much that the name will create restrictions.
Even if your business is based on a niche, make sure the name doesn’t choke you.
As domain names also play a key role in SEO (Search Engine Optimization), hence if you narrow it down it will negatively impact SEO.
You can always look beyond the popular .com if you want a combination of a general name with specific extension. This helpful series of articles for naming ideas may help you in naming your idea.
2.3. Don’t make it too general
If you make it too general then there might be a chance that it will become difficult to stand out from your competitors. When we create eCoupon, there were already many coupon businesses in the industry. And we also want to grow our name as we grow in our business, and that is the reason we pick up this name. Maybe those other names are descriptive but not unique and memorable.
But there are expectations. Though General Electric is one of the most successful companies in the world, it still spends billions of dollars on advertising and marketing. It has only two simple words in its name but it is also one of the first companies in its industry so when they evolved into other branches they need to do that kind of advertising and marketing to keep people engaged.
2.4. Short, simple and easy make a name remembering
Pepsi, Puma, Nike, all these popular brands typically have short, simple and easy names that don’t put pressure on customers’ mind.
Don’t pick up names that are difficult to remember, not many people like these types of names.
What will happen if a satisfied customer wants to refer your business to his friends but sadly can’t spell or remember it or even can’t pronounce it. So, make sure to dive deep into researching and pick a name which will not create problems like that.
Acronym for your company name is also an important point. Your customers could refer that way for easier to remember for them.
2.5. Avoid Obscure names
Using a memorable name can convey your company’s motto clearly. But using obscure names can put your customer into difficulty to pronounce or spell it.
It is important if you’re trying to attract a huge crowd towards your business.
Sometimes obscure names may work; Yahoo is a living example but may need to fuel that with a huge spending on marketing and advertising with hard work.
2.6. Find every possible name associated with your business
After understanding the idea, now it’s the time to put all your ideas into a single plate. You should start brainstorming names. Here are some points you need to consider that the name must be
- Related to your business, products, industry or services
- Highlights all the products/services and their benefits
- Angle to describe your competitors
This part of the process for naming an online business takes quite a time even we spend 30 hours in just brainstorming and then more 10 hours to make it final as eCoupon as we have discussed every possible name.
GoDaddy has a wonderful domain tool called Domain Search Tool. This tool does not only help you in domain brainstorming but also provide different extensions like .com, .net, .org … etc. And also, you are able to find which names are already registered but still available in auction or for sale as premium domain names.
2.7. Take opinions of others regarding your name but avoid committee
It is always a good idea to involve persons who know your business and keep interests in that industry. Be careful when involving your friends, family, or employees etc. It’s not that they will not work, but still considering already experienced people in the same area seems a wiser decision.
Never ask them for the best one, ask them how it becomes the best, and try to understand their part of the theory.
2.8. Avoid trending names
During the late 1990s, it became a huge trend to use a “.com” after the company name if your business was related to an internet field. And then everyone starts to do the same. Soon the .com became familiar with everyone with no specific business model. However, when the internet bubble burst, many companies quickly dropped .com from their online business name.
2.9. Geographic names can put the limitation
Many people who target local customers include their city, state or region names as a part of the company name. This is a great option to introduce themselves as a local brand but it could hinder them later if they want to increase their business by spreading it to other places.
You can take Minnesota Manufacturing and Mining as an example. The name worked initially as they were targeting only in Minnesota but as they started to spread their business out of Minnesota, they have to use a new name – 3M.
2.10. Make sure to check your competitors
Check your entire competitors’ name before making any full-stop. You will find many similar or identical names in different industries and this can result in confusion for your suppliers and customers.
If the both, you and your competitors are using the same business name, then you may face legal objections and lose the opportunity to obtain trademark protection for your company name.
You can always prefer different extensions, there are many alternatives for your domain name. A .com extension may be popular but they are less important for SEO ranking.
By choosing many extensions, you can extend your brand to most of the direction. Always make sure to check a variety of different domain extensions when purchasing a new one. By this, you will have your brand protected and no competitors can copy your idea and cause loss to you.
Getting extended domain ownership allows companies to hold product specific domains and create the chance to target different categories of customers for their unique products.
Be practical you can’t just register all possible names for your company, but being strategic is a good option. Try to possibly get a domain name as same as your company’s name as the difference can hinder your brand by creating confusion and frustration.
If you’re not sure which option to register, then you can use GoDaddy Domain Appraisals that will help you to choose the most valuable domain name. With provided comparable domain name sale which will help you to sort your options. It’s absolutely free also.
Let’s summarise the above top 10 tips you should keep in mind when naming a business.
- The name should express the business idea – Make the name appealing to customers to make your brand strong enough.
- Don’t narrow down it too much – Don’t put a boundary on your business. Make sure the business name to grow with your business.
- Don’t make it too general – Don’t make it too broad it will make the uniqueness fade away.
- Short, simple and easy make a name remembering – Take the advantages of your customers’ news spreading about your brand by making it simple and meaningful.
- Avoid obscure names – Keep simple get noticed.
- Find every possible name associated with your business – If you’re dedicating reasonable time for it then you don’t need to do it again.
- Take opinions of others regarding your name but avoid committee – Only consider knowledgeable person regarding your idea brainstorming.
- Avoid trending names – Don’t follow the trend that will cause your business to be a history. Try to stand out from the crowd.
- Geographic names can put limit – If you are clear that your business is going to target only and only a particular location, never use the locations or city names as your business name.
- Make sure to check your competitors – It’s incredibly important to make your online presence remarkable as it will help you to promote your brand.
Always remember these tips before naming a business; we assure you that you will find a great company name. If you need any help regarding this, make a visit to eCoupon.io for getting domain promo codes when registering your domain names.