Are you starting a new business? Have you thought about choosing the right name for your company? Your brand’s name is definitely something you shouldn’t take lightly. 77% consumers make purchases based on a brand name alone. Your company name will inform your market about your business, make people want to know more about what your brand offers, makes you memorable, and sets you apart from your competition. Without the right name, your business won’t make a strong impression on potential customers.
Below are 3 reasons why the right company name is important for the success of your business:
The first step to choosing the right company name is ensuring it lets people know what your business is about. A vague business name won’t garner much attention and may even lead to customers skipping your company altogether and buying from one of your competitors. Customers like to know what to expect when it comes to buying a product or service. Oftentimes, when a company name doesn’t inform the target market about what it can offer them, people won’t be interested.
The last thing you want to do is confuse prospective customers with a vague, unclear company name. For example, Google was once called BackRub. There is no doubt that Google wouldn’t have had the success it has now if it weren’t for the name change. While the name Google doesn’t tell you exactly what the company has to offer, it does fit the brand more than the previous name. The name BackRub just isn’t a good fit for a search engine.
A powerful company name gets attention and makes people want to learn more about your business. If anything, your brand name should evoke an emotional response within your potential customers. And a strong name that elicits an emotional reaction from prospects is one that will grab attention. And what does attention bring? The potential to attract paying customers.
A strong name is especially important if your business will have an online presence and you plan to purchase a domain name as there will be other company websites vying for the attention of potential customers. For example, imagine someone performs a Google search for cleaning services. Which company website do you think will get more clicks? Elaine’s Cleaning Services or Rise ‘N Shine Cleaning? The latter would obviously stand out from an unremarkable name.
Why do you think the name Sony is so powerful? It has a ring to it. Not only that, but it is also easy to remember. Other successful businesses with memorable names are Coca Cola, Pepsi, Rolls Royce, and Microsoft. What do these names have in common? They are smooth and easy to say. They are also short and sweet. Consumers will find it more difficult to remember a longer business name. Whereas, shorter names pack more punch, which helps boost memorability.
You can also take a bit of a risk by making up your own words or phrases like popular search engines Google and Yahoo. The names really don’t convey what the company is about, but they help them stand out. A great brand name goes a long way in creating success and notoriety. For example, Hotmail had no marketing muscle behind it. Yet, due to its marketable brand name and the key services it offered, Hotmail became so popular that Microsoft purchased the company for millions of dollars.
Are you looking to build your brand and stand out from your competitors? At the Digital Centre, we pride ourselves on providing services that range from prepress to product packaging and mailing. Contact us today for more information about our services.enquire now