Choosing a Business Name

It’s great fun choosing a business name. Brainstorming the possibilities, checking your options with friends and colleagues, astounding yourself with the clever, original names you’ve come up with. It’s great fun for sure, but are you approaching this part of your new business with enough care and attention? Your business name is a key part of your business identity. It is a very early influence on how your customers perceive your business and form many will be the first step to knowing, liking and trusting you – the essential precursors to actually placing an order.

Rather than leave the creation of potential business names and the final choice decisions to chance, whim or opinion I recommend a procedural approach that draws on evidence and uses influential tools to fast track your business naming effort and give you a name that will resonate with the right kind of customers and attract them to you.

Here’s a brilliant pathway to business naming from Namergy.com that everyone naming a business now or in the near future will find useful.

Be sure to see our extra tips at the foot of the page!

The Business Name Generator Infographic or: How to name a business

 

Business Naming Tips

Choosing a business name will require you to already know a great deal about how you propose your business to work. You will already have completed the strategic planning of your business concept. If this is the case, then the resources I refer to below will already be at your fingertips or close to hand. If not then working through these subjects will help you create foundations for yoru business strategy.

Keywords

Digital marketing relies heavily on key words and phrases because these provide the intelligence that indicates what people are interested in. When someone is interesting in learning about “dragon’s blood powder” or “computer repairs” these are the phrases they will search on. Creating and maintaining a list of keywords throughout the life of your business is vital to staying on top of and getting ahead of the pack. Keywords are useful for pushing your message to customers through inclusion and can also provide valuable research data to see where customer needs really lie and how customers behave in your market sector.

Unique Value Proposition

Every business that is going to go places needs a unique value proposition (UVP) to enable it to own its business space and to make it unassailable by it’s so-called competitors. Your marketing should consistently bring your UVP front and centre and what better way than through your business name itself?

Know Your Customers

A strategic advantage for your business is in identifying who your customers are, how they behave and why. By identifying your ideal customers you will be able to focus your efforts on this group, to the exclusion of non-ideal customers who thankfully can contact your competitors. Knowledge of your customers will tell you where their inetrests lie, the language they use, what they value, what they like, what they dislike, what their buying journey looks like and more. With this knowledge you can create a path of strongest influence and least resistance.  A business name that embodies this knowledge will use words that communicate ideas and feelings to your target customer group.

Business Values

Having a statement of values for your business can be enormously helpful in deciding what your business does and how it does it. Using words that encapsulate your business values  and communicate them to your customers will help give you a business name that actively works to promote your business.

More help… Digital Business Media can assist you in developing your strategic business plan or implementing it through marketing communications. We do this through our Business Builders online resource centre, online workshops and 1:1 assistance in practically applying knowledge and theory to your specific business situation. We can work with startups and established businesses anywhere in the world.

1 Comment

  • Guy

    Reply Reply November 4, 2015

    Great ideas, thanks for sharing! Immensely helpful tips, regardless of what stage of the business life-cycle you’re in.

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