You must be wondering what’s in a name. Experienced entrepreneurs insist that a name is ‘everything’ to a business. Around 77% of consumers rely on a brand name when making purchases. Business gurus firmly believe that a great name will make a huge difference. According to the Entrepreneur, a company’s name undoubted is an integral part of its identity. Your company name will be present on your letterhead, business cards, website, and practically, in all promotional materials for identifying your brand or business, products, and services.
As you come across all sorts of business names, you may be misled into assuming that choosing an appropriate name for your company is a cakewalk. However, it is crucial to choose the perfect name for your company because it helps create a good first impression in the minds of potential clients. Moreover, it is a versatile platform for your promotional and branding activities. Hence, you should steer clear of mistakes when choosing a name for your company or brand. Before exploring the mistakes, you should know about a few types of popular brand names.
Descriptive Brand Names: Descriptive company names convey the service or product offered by the organization. They often depend on clever taglines for conveying personality or effective storytelling. Some popular descriptive companies or brand names are General Motors, Toys R Us, The Weather Channel, Bank of America, Hotels.com, etc.
Evocative Brand Names: These brand names are unique and creative and could be the founding step for a strong brand voice. As evocative company names have some scope for interpretation, they facilitate powerful storytelling and establish a brand that seems much bigger than merely the services or products your company offers. Some instances of evocative brands are Patagonia, Nike, Apple, Amazon, Virgin, Monocle, and Greyhound. You may find company names for sale online. You may choose an appropriate one for your business to stand apart from the rest.
Invented Brand Name: Invented company names offer exceptionally creative latitude for your brand! However, they are quite challenging to conjure. Several invented brand names are derived from Greek, Latin, or some other foreign origin words and then modified as per your brand personality. Some invented names that have gained success are Kodak, Exxon, Xerox, Google, Adidas, and Pixar.
Acronymic Brand Names: Acronymic brand names have been in use since time immemorial. Some of the most popular ones are UPS, IBM, MTV, HP, BMW, and GEICO.
Founder Brand Names: Company names with the names of their founders are often very popular and always in vogue. Some popular brands in this category are Ford, Ben & Jerry’s, Kellogg’s, Martha Stewart, Calvin Klein, and Ralph Lauren.
Some Company Name Mistakes to Avoid
- Using a name that is difficult to spell, hear, or say could be a big mistake. You should avoid using hard-to-pronounce company names as people will not remember them. Easy-to-spell company names are best for feeding into search engines.
- Making your company name excessively descriptive could be a blunder. Indeed, your customers will at once know what your company offers by looking at your descriptive name. However, such a name may be an impediment when you wish to expand your line of activities.
- Using too generic brand names could be a huge mistake. Generic domain names may be a great asset in the digital landscape, but a generic company name will fail to convey to your potential customers what your company does.
It is crucial to devote some time to determine the most appropriate name for your company. Desist from hasty decisions. Do a lot of deliberation and brainstorming before arriving at the most suitable name for your company.