15 Tips on how to Choose ROI Driving Business Name
Business name or Company Names or Brands are the lifeline of any business as it is what consumer uses to identify and avail its services. If the brand name of a business or company does not resonate with its customers, the chances are that the company is doomed. Therefore, if you are a new business, startup or even an existing business, this must be the first thing in your consideration at the time of launch of new product/service. At BrandLoom we come across several such requests from our clients. A name is just a word unless chosen well and used appropriately to represent your company. Therefore we are sharing our cherished 15 Tips on how to Choose ROI Driving Business Name.
Tips on how to Choose ROI Driving Business Name
The famous play writer of Romeo and Juliet, William Shakespeare once said “What’s in a name? That which we call a rose by any other name would smell as sweet.”
Would you agree with what Shakespeare said way back in time and settle with whatever comes to your mind. In today’s world brand names have real values associated with it. With millions of brands vying for consumer attention naming a business is a critical task today. Therefore choosing an ROI driving Business name is critical
You will find several online tools to generate business names, however choosing a business name is not so easy. After all your business is all due to you, your passion and your idea. You can not leave it to an impersonal tool to generate a name for you. So here is what you should do while naming your business or company:
Choose a Business Name that is Short, web-friendly and available to register
The Internet is probably the biggest disruptive force in the business today. It is no longer a nice to have but a must for any business. So this is what you must do while choosing a Brand name:
1 Pick a company name for which a preferred .com domain name is available: most of the consumers are tuned to type the brand name followed by .com. So if you can get a Brand name with .com nothing could be better. However, if it is not, you can always settle for the most preferred country suffix such as .in or .cn or .uk or .de
2 Choose a short Business name for your product or service. The shorter, the better. Having a short brand name enables the creation of shorter URL’s and in turn help you generate better ROI for your marketing investments. You must be wondering, how. So below is your answer:
- Always go for a short URL as it will have an impact on SEO. Search engines can process long URL’s. However, your keywords start to lose its impact if there ae too many characters in it. A good practice is to keep your URL length below 100 characters to maintain the search engine friendly (Search Engine friendly URL’s include relevant keywords that describe the page content and therefore can help boost the ranking of the page)
- Shorter URL’s are also User-friendly and increases User Experience as they are easier to remember. Shorter URL’s enable users to remember the web address and come back directly to the page.
3 Ensure it is not similar to an incumbent in your product/service category (you would not like to change your brand name).
4 Easy to remember and meaningful: Names which are easy to remember and useful to its customer stick in their mind and therefore generate higher ROI for the business.
5 Social media user /account names are available: Social media has become an easy way to connect with the target audience, so you must ensure that your preferred business name is available on important social platforms.
Choose a Business name that is Easy to Pronounce and Spell
In the world of ever-increasing technological complexity, it has become critical for brands to have names that are easy to pronounce and spell. Consumers like to connect with brands at the click of the button with voice search or by typing on their mobile device. A brand name that is hard to pronounce or write can jeopardise your chances to connect with your consumer. Instead, they will reach out to your competition and give them their business. Therefore here is what you should watch out for:
6 Your Business name should be easy to pronounce in your key market. You would not like your consumer to struggle while pronouncing the brand name.
7 Your Business name should be easy to spell. If your consumer does not get the spelling right, how will they reach your website or social media page to connect with you?
8 Your Business name should spell as it is pronounced. For example, the spelling of Xerox should be Zerox as per its pronunciation.
Choose a Business name that is easy to remember
Your Brand name could be your single biggest differentiator. A brand name that creates curiosity, inspires a consumer to enquire further. This is the best a brand can expect to initiate a relationship with a customer. Needless to say, such brand names are easier to remember and refer to friends & family. Therefore here is what you should do:
9 Choose a business name that generates a curiosity about your business
10 Pick a company name that does not resemble your competitor
11 Select a brand name that connects you to the category you belong.
Choose a Business name with recognisable Logo
Can you visualise the power of Apple or Windows or Macdonald’s Logo? Today consumers recognise both the wordmark and logo of powerful Brands. Having a logo adds richness to your brand’s visual identity and provides you with the opportunity to connect with the consumer at various touchpoints. So here is what you should do while choosing a company name:
12. Select a Brand name which can sport a naturally fitting logo.
13. Go for a visually appealing Logo
14. Pick a logo which a consumer can easily recognise.
15. Go for an image logo instead of a word logo
So here is what I wanted to share in this post. What do you think? Is there anything which does not resonate with you. Feel free to leave your feedback in blog article along with your suggestion and comments. I can promise you that you will certainly get a revert from my side.