BUSINESS INSIGHT: TIPS ON NAMING YOUR BUSINESS
If we compile all the names of different enterprises in this world, they could sum up to over a billion. The whole word could seem too farfetched so let us bring it home; walking along a busy road here in Nigeria, there is a high probability you would see at least twenty different names of businesses at every turn of your neck. Though each of these twenty try to make a statement of their own, only a handful, if at all any, will succeed in communicating with you.
Bringing it further down to your neighbourhood, can you remember all the names of the little shops on your street even after residing there for many years? The answer is likely a no! You might put the blame on your memory or accuse yourself of not paying attention to details. The truth remains; the names of these little shops did not leave an impression on you and could not register in your mind.
However, the light bulb in your brain practically turns up when you hear names like MTN, Coca-Cola, Facebook, Indomie, Microsoft, DSTV, Toyota, Samsung, Google, SPAR, TOTAL, etc. You might conclude that these are big brands that are well recognised. Yes, this is true but do not forget that they were not as big as they are when they started. The difference is the names of these popular brands have continued to speak loudly for everyone one to hear.
Choosing a business name is an imperative criteria for any enterprise and it is not as simple as you may think. Merely picking a name that sounds good to your ears might not be a wise business choice. Deciding on a business name requires a lot of brainstorming and deep research in your chosen market. It demands you devote quality time defining each term you wish to use to ensure it connects with your business or the kind of brand you want to build.
You may be asking why you should go through so much stress for a brand name and fail to realise one fact, a business name, in most cases, is the first thing potential clients would meet before they encounter the owner. The name of a business becomes its identity and carries the brand’s message. It is the voice that gently calls out to customers beckoning on them to patronise the business. Now let’s look at a few steps you could take to give your business name a voice.
Firstly, do not think you know it all, consult professionals. Most people consider consultation a waste of time and money, and move straight into making decisions that end up marring all their efforts. With the right strategic advice and plan from a professional, you can be sure that every aspect of your brand will stand out from the crowd.
Secondly go for a name that is easy to remember. Simple names stick longer in the minds of people and communicate to them better. So avoid any name that is too complicated and hard to remember. Also, before you settle for any name, do a proper check to ensure no other company has used that name before.
Thirdly, add some creativity to the name that leaves people curious to the name. Don’t mistaken plainness for simplicity. Keeping your business name, short and simple doesn’t mean you should go for a plain name that literally gives your business away or sounds too mundane. Depending on the nature of your intended business or brand personality, you could also introduce a little mystery to the name that stirs up curiosity in the minds of people.
Lastly, be certain the services or products your business offers lives up to its name. It is not enough to have a brilliant name and then deliver poorly. Customers will always link your business name to the quality of your services. So whilst you have a striking business name, it could also have a bad reputation.
Extra Tip: A name is not merely about the alphabetic letters, but about the reputation, perception and values it represents.
With these simple steps and a strong publicity to increase the visibility of the business name, you can be rest assured that your brand will not just be in the minds of people, but also in their hearts.
Written by Jennifer Chioma Amadi
Do you need a total rebranding? We can help! Send us an email at wecare@mapemond.com
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