People have many things to consider before their new company goes live. They’ll want to get their branding right, including the company name and logo. Choosing a business name is one of the most important decisions you’ll make for your company. It will be used on all your marketing materials, what people will know you as, and the foundation on which you will build your future.
Perhaps you are at this stage and want to know more about the importance of your business name. If that’s the case, we’ll answer these questions and help you choose the best one.
What Is A Business Name?
A business name is what people will say when they refer to you, which pops up on your company’s Google search results. It’s also what others will see as a result of online personal or professional networking activities, e.g., through LinkedIn. Some famous companies are Apple, Nike, Google, Windows, SpaceX, IKEA, Samsung, McDonald’s, LG, Red Bull, Twitter, Pepsico, Nestle, Johnson and Johnson, and Mars.
You’ll need to register your company before you can operate in the marketplace, and you must therefore know your business name by this stage. You’ll address this as part of the overall branding process, where you think about your logo, strapline, colors, styles, and terminology. The domain name you choose should ideally match the company name, which is why you must ensure the name hasn’t already been taken. You can use a business name generator to create a unique name for your site. And if you can, choose a random wheel spinner to randomize your results. Just insert your inputs, spin the wheel, and you will have a winning name. Additionally, check whether your logo has already been taken or if you need to trademark anything.
Why Is It So Important?
Business names can be the difference between success and failure, and it’s vital that people can easily find and recognize what you have to offer. The company name is what people will see when they search for you online, and it will be attached to any social media page, whether it’s Facebook or Twitter. Most importantly, your company name will become a “trademark” in branding and marketing terms.
External Help
Fortunately, some companies with an online presence specialize in helping businesses at this stage. With the assistance of a business naming service, you can access domain and trademark screening, pay flat-fee services and create as many rounds of brand names as you need. They can help you to distinguish yourself from your competitors, appeal to new customers, create domain name visibility in search results and help you define your target audience.
How Do You Choose One?
Initial Considerations
You want to ensure that your company name is memorable, relevant, and easy to spell and pronounce. Does it need to be catchy and distinctive, or should you choose a more traditional name? (The answer would be different for a costume company than a bank). Make sure the name reflects your company’s values (like ‘good’ in Goodwill Industries or ‘environmental’ in Environmental Cleaning Services).
Rivals And Availability
Also, take a good look at the competition and create something unique to stand out. Check the name’s availability (Google your name idea and see what comes up). Also, look to see if anyone else is using a similar name (e.g., through social media or company registration). If you use a name that already exists, someone else might be able to take ownership of what belongs to you (in this case, seek professional advice).
Descriptive And Motivational
Be descriptive about your products or services but make sure it doesn’t limit what you do in the future. E.g., don’t call yourself ‘Residential Services’ if you plan on later dealing with commercial properties. On the other hand, make sure your name sounds cool and intriguing so people will want to find out more. Consider what you’re passionate about and put this into the company name: it will help motivate you if you get tired or overwhelmed.
Trademarks
We mentioned earlier the need to check trademarks. It’s a name, word, or symbol used to identify and distinguish one brand from another. It can be a trademarked logo design (like the Nike swoosh) or a trademarked catchphrase, like ‘Just Do It,’ for example. Governments issue trademarks, which are essential in protecting your company’s identity. They’re generally valid for ten years, but you need to renew them every once in a while, so make sure this process isn’t forgotten.
Domain Names
They are the website address you type in to visit a site. If your company name doesn’t match up, at least make sure you purchase similar ones because most search engines will group them.
SEO
Search Engine Optimization needs to lie at the heart of your company name, website address, and social media presence (including any Youtube videos). SEO is increasing the amount and quality of traffic to your site through organic search engine results. The first step is choosing a great company and domain name that is easy to find on Google by people looking for what you offer. Next, make sure all your social media profiles include this same name so they will all be listed (one under the other) on Google. Finally, use keywords in blog posts but don’t overdo it because Google might think you’re stuffing them with advertising content and penalize you.
Hopefully, you now appreciate the importance of company names more fully. You should also be more precise about the process and how to come up with the perfect name for yours. Rather than being a meaningless tag, it can become a powerful recognition tool that sums up your company, its products and services, and your values. If you choose unwisely, you may have a low ranking on Google, but if the opposite is true, you could enjoy greater visibility and higher sales for many years to come.
