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Right name could mean big business

Posted on September 12, 2017 by in Business & Strategic Planning, Business Management, Sales and Marketing with no comments

Choosing the right name for your business is as important as customer service and product quality. A big part of company image is a good name. When choosing a name, keep in mind that the name should not only describe what your company is but also be a promotional tool.

For instance, how would you feel about dating at a restaurant named, Joe’s Slops? Not very appetizing is it? Or how about Dimension Systems? Just what does that really mean anyway? Many people try for names that really have nothing to do with the business they are in.

Take your time when deciding on the name. Start by making a list of everything your company does, your specific product, what it is or does, benefits, advantages and appeal. Use concise, action-oriented words. By getting the description down first, you can brainstorm the ideas until you find the right one that is perfect for your business image.

To attract a broad client base, think about your market. By mixing substance with image you can effectively reach potential clients by the simple power of your company name. If you owned a clothing store that catered to young people, you wouldn’t choose a staid, old-line name like Abernathy’s or Pier House Classics. You would be far more successful with a contemporary name that identifies the fashionable styles that are currently popular. Similarly, a name like Congo Jim’s Exotic Nursery would entice potential customers because of its imaginative appeal, but Martha’s Potted Plants would draw a more ho-hum response – and no sense of urgency to stop there when other nurseries were available.

I’ll bet that if you were asked which food chain lets you “have it your way,” or where you would go to get a Big Mac, your mind would automatically think of Burger King and McDonald’s.

These companies have spent millions of dollars on marketing to create their image so that when you’re hungry for a burger, your mind automatically thinks of words that trigger you to think of one of these restaurants. The power of words is limitless. Use them to draw emotional responses in your prospective clients.

Don’t settle on the first name that pops into your head. Allow yourself time to brainstorm. Your creative thoughts will come to you and you will know when you’ve chosen the best name possible.

Use key words that say what the product is. For example, if you sell golf equipment, you might use a name like Golf Pro or Golf Clubs Plus.

Research your competition. By knowing the names of other similar business like yours, you can alleviate the time and effort spent choosing your name, only to find out that another firm’s name is similar. Also, knowing your competitor’s names might give you ideas that you hadn’t thought of before. Check The Trademark Register of the United States, available in the local library, for this information.

If you have a law firm, you may stick to names that are more traditional such as a string of partner’s names which could suggest professionalism, stability and power.

Picking the right name is essential to build the basic steps to success. Choose carefully and wisely to insure maximum effectiveness.