Naming your business is one of the most important aspects of the branding exercise. It requires excellent foresight. Decide how to reach your target audience. And ensure you captivate them. There are pros and cons to choosing a unique business name.Each should be considered. Eventually you’ll find a name that perfectly suits your business. Take a look at some of the pros of using a memorable and unique business name.
Benefits of a Unique Business Name
It’s the First Thing Customers See
Your business name is often your chance to give an excellent first impression. And it‘s necessary to have a strong name to make a powerful impact. The right name is a necessary key to branding success. Your customer interacts with a name before anything else. So it must convey an accurate message and wow the audience. Think of businesses like Zillow, the online real estate database that is known for offering millions of for-sale and rental listings and providing exceptional service. The name Zillow is memorable, a variation of the word “zillion” and feels comfortable because it rhymes with pillow and shows that the business cares about finding buyers a home they will love.
It Sums Up What Your Business is About
There are several factors that go into the perfect business name, so choosing a name off the top of your head isn’t the smartest strategy for your brand. A business name gives off various emotional appeals while it also establishes your business as a leader in a specific industry. Think about the apparel business Psycho Bunny. The owners chose the iconic identity – a bunny skull and crossbones – to represent rebellion with style. They recognized that creating a brand that represented sophisticated mischief with peerless quality and a range of styles for every occasion would be a great way to attract customers who are hungry for cutting edge design.
It’s a Unique Take on An Industry
There are usually a lot of businesses within any given industry; this is one of many reasons Americans don’t start a business. They may worry the market is saturated. The thing is, even new industries gain traction and have the ability to attract entrepreneurs, so a lot of businesses strive to provide similar services for customers. However, business owners need to figure out what makes customers choose their business over another. One way to secure more customers is through choosing a business name that gives off the vibe of high value and trustworthiness – but nothing too off the wall that gives a red flag. You want your business to appear to be creative and stand out. You don’t want consumers to think, oh great, another trivial startup that’s copying social media trends.
Think about the business Uber that uses smartphone apps to connect drivers and riders. When the drivers accepts the riders request, the app on the riders phone displays an estimated time of arrival. The name “Uber” refers to the common word uber, which means “super” or “topmost.” When customers think of Uber, they think of a business that is above the others, providing reliable, superior service.
To put it simply, choosing a business name is more than just choosing any old name. By choosing a unique and unforgettable name for your business, you will attract customers and make an emotional connection between your brand and your customers. Remember to choose a name that accurately represents your company and aligns with your brand and it will help to set your business up for the great long and short-term success.
More in: Marketing Strategy