business-name

You have built your brand, branding and marketing strategies. You have named your corporate values. You have recorded your mission and vision statements. You know what you want to accomplish with your business, and how you want to use that business to create the life of your dreams.

And the next steps?

  1. Name your Business
  2. Create a Strapline
  3. Name your Product
  4. Name your Service
  5. Create a Fame Name

Not all of these names will be necessary for every brand, but today you’ll be learning how to create the best ones you can create…for the best brand you can build.

Your Business Name: Your Trustmark

Not too long ago, the focus when creating a business name was on innovation. The more obscure the business name, the better it seemed. Think about Nike, Xerox and Zappos and you’ll get the idea.

Today, that’s all changed.

Today, it’s important to focus on the benefits offered by your brand when naming it. Why? Because when people set out to find a brand like yours, they’re going straight to internet search, and they’re Googling the problem they have, the solution they want or the benefits they’re in search of. When your business name matches the keywords they’re using to search…well, then you’ve got a winner.

In the past, marketers weren’t as heavily reliant upon internet search. They could create an obscure business name and then use branding and marketing to explain it to the public. In the fast-paced world we live in, there’s no time for that. Your business name (as well as your strapline, product name, service name and fame name) must be clear and explanatory, so people know immediately what you’re doing, offering and providing.

How?

Well, I have some points for you to consider as you create your names.

  • Make it easy to find. Describe what your brand does, what problem it solves, what it offers or what benefits people can expect and build a business name with those words. Conduct research to determine what keywords people are using to find brands like yours. This will increase your organic search results, just like ours went from #473,000,000 on Google to #3 in just 12 weeks.
  • Make it workable. Are all the words in your business name easy to spell? When you remove the spaces (as you will in a domain name), are any offensive or off-putting words created? This is about clarity and ease of reproduction. If there are questions about spelling, for example, your brand may suffer from lost referrals.
  • Make it memorable. What do Dunkin’ Donuts, Blockbuster, Coca-Cola, Krispy Kreme and Constant Contact have in common? They use alliteration, they bounce off the tongue and they have a heartbeat all their own—making them more likely to be remembered and repeated. Do not sacrifice simplicity or clarity to accomplish this; however, if you can do both, please proceed.
  • Make it unique. If your brand is similar to another, and you create a business name that is comparable, hoping to gain the attention of their would-be customers, you’re playing with fire. Not only are you opening yourself up to potential lawsuits, you will be unintentionally marketing for that original brand. Think of your USP (Unique Selling Proposition) when creating a business name and make something that is exclusive and all yours.
  • Make sure it’s available and jump on it. I always suggest that business owners visit com and type in their first choice of business name to see if it’s available across all channels (domain and social media). If it’s taken across even one channel, consider that you’ll be marketing for that other business with the same name (not a good idea). Sometimes the simplest of names are available, and the most complex are taken…so never assume. If you do find that one of your choices is available across all channels, grab it quickly, buying up all domain names (.com, .net, .biz, .uk, etc.) that you can afford to avoid others taking them. business-nameIf your choices are not available, namechk.com will make suggestions. Once you decide on an available business name, trademark it. Not only will this protect you, it will increase the value of the brand package so much that you may be able to sell it (even without customers) for up to five times what you’ve invested.
  • Aim to avoid the need for a strapline. Straplines, or taglines, were originally created to clarify vague business names. Because you’re going to be focussed on creating a business name that is highly descriptive, you may not need a strapline. Remember that “just because you can, doesn’t mean you should.” Consumers’ attention spans are short. The last thing you’ll want to do is take up valuable time with a strapline, when they could already be into the meat of your message.
  • Name your products/services in the same manner. If your brand will be an umbrella for a number of products and/or services, then you’ll need to name them using the same principles you followed when naming your business. We’ve done this with our R.A.N.D. Accelerator, B.R.A.N.D. Building Bootcamp, The 7 Reasons Why Customers Don’t Choose You, and more. Remember that when your ideal customers are searching for solutions to their problems, they can find your products and services too.
  • Create a fame name. What’s a fame name? It’s a 15-character-or-less name that gets its start as a Twitter handle and then expands to other social media channels (and circles outside of social media). Sometimes, a business owner will find that a fame name also works as a business name. If this is the case, great. Otherwise, consider your fame name your nickname and use it as a sort of replacement for your “Joe Smith” name, as a channel to notoriety and a simple way for people to remember you. Ours is BrandExpertTips.

Are you excited to create your business name? To re-brand your business? Or to add a fame name? What I’ve shared here is some solid advice to put you on the right path. However, if you’d like more guidance and specific advice for naming your business, I invite you to become a B.R.A.N.D. Accelerator. You’ll get one-on-one guidance through every step of the brand-building process. Click here for more information.

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