Choosing an effective name is one of the first and most vital steps in putting up a business.
For starters, it is the first thing that people will see and the impression they get from your name will influence how they will initially react towards your business.
Will they become curious and inquire about your products and services? Will they remember you and go to your business when they need it?
A good business name will establish marketing recall and build early equity. Below are some tips on how to come up with the correct name for your business.
Speak to your target market
Your business name should reflect your target niche. Hotshots Flame-Grilled Burgers is a good example, the name employs the word ‘hotshot’ to describe young urban professionals, which is their target market.
Another one is Minute Burger which speaks to people on-the-go and tells them to go there if they want a quick hamburger. Visualize the people whom you want to serve and check if your business name will appeal to them.
Describe what you do.
Incorporating your main product or service in your business name is always a good idea. Bruno’s Barber Shop is simple and straightforward, while Creative Nail Salon clearly tells that they specialize in nail art and design.
Imagine your business name printed on a calling card and you leave it in a public place like a park bench. If someone finds your business card, would they immediately understand the nature of your business?
Keep it simple.
Your business name should be easy to say, spell and remember. Avoid unfamiliar words or tongue twisters. I attribute the local success of Hotel Sogo to this. The name is short and can be spread by word of mouth.
Imagine yourself dictating your business name over the phone; would the receiver clearly understand it the first time you say it and would he be able to spell it correctly?
Do not use trendy names.
When Pinoy Big Brother came out, I started seeing business logos and names patterned after the famous television show – Pinoy Big Burgers, Big Brother Karaoke Bar, and Pinoy Big Bistro were just a few that I remember seeing.
After these fads run their course, you will be left with a stale and outdated name, and that’s probably what most people will think of your business too.
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