Sunday, August 5, 2012

What's In a Name: Your Business Name and it's Success

Today I welcome Amy Torres who has written this guest contribution.

What's In a Name: Your Business Name and Its Success


You may wonder what makes a business name successful and how you can come up with one of your own. Family, friends and business associates can help you with a brainstorming session to choose a good name, but it would behoove you to follow some of the guidelines below to help you choose the best one.



Easy to Memorize

A successful business name is a memorable one. Along with being memorable, it needs to be simple to spell. You want your customers to remember your name, but if by chance they forget it and need to look it up online or in a directory, it needs to be easy to spell. If you have a name like “Theowelltheon,” no one is going to be able to find it, because how would you even spell it? Go with something unique, but intuitive to spell.



Visual Element

To have a successful business name, you need to add a visual element. After all, when someone sees your name, you want them to have an image of who you are. If a customer can associate a visual element with your name, it can aid in their ability to return to you as a customer.



Positive Connotation

A successful business name also has to have a positive connotation to it. A connotation is an emotional meaning of the word. It can be positive, negative or neutral. To have a successful name, you want to pick words with positive connotations to associate your business with. Think of it this way. If you start a business for a trucking company, you don’t want to have a small or weak name such as “Little Twig Trucking” or “Fawn Transport”. You want to go with a strong name such as “Stone River Trucking." Makes sense, right?



Connections

A successful business name is going to have something to do with what your business is about. You probably don’t have a product that will instantly be popular like Nike or Apple Computers, so you have to have a name that customers will be clued in on what your business does. If you are a trucker, include trucking in the name somewhere. If you provide lawn care, include the term lawn care. This will also help potential customers find you if they are doing a search for a business that does what you do.



A Short Name

A successful business name should be short. This goes back to the whole memorable thing. It also helps when you are doing promotions. You want a name that will fit onto a business card, flyer or ad in the paper. In a search engine, you want to have a name that can be easily found with one or two words. The shorter, the better.



Colors

When you choose a name, think about colors as well. The color will be a big part of your business logo and the items you use for promotions and website. Red indicates an aggressiveness that defines excitement, speed, and passion. Greens indicate something to do with growth, nature, or something natural.



Remember that this is your BRAND - and if you change your brand, you risk alienating all your customers! This should also be something that you can play off or otherwise use to branch into other goods or services, so keep an eye on the future!



Amy Torres writes about business, finance & credit reports.

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