Sometimes it can be difficult when it comes to choosing a name for your business. However, sometimes you might be looking for a re-brand. It's definitely not a decision that should be taken lightly. That's why we're sharing with you the best way to choose the perfect name for your business. We've come up with 5 steps for picking a name that's right for you!
First off, if you've already been doing business under a specific name and are considering a change, you should weigh the pros v.s. the cons of changing your business name. Get your pencils ready...
What would this new name mean for your business?
Can you expand your reach or client base because of your new name?
Can you better differentiate your brand with this new name?
How could changing your name potentially hurt your business?
Could you potentially lose any clients because of your name?
How widely shared is your current name and how many people do you need to notify of the change (and potentially lose out on traffic)?
Alright friends, pencils down. Now that you've weighed your Pros and Cons, take a moment to reflect on why a business name change is right for you. In contrast, if you're just starting out and choosing a business name, this Pros and Cons list doesn't apply. Now it's time to move onto step two.
HOW TO CHOOSE THE PERFECT BUSINESS NAME
1. Keep it personal AND professional.
Sure, it's nice to have a personal story behind your name, I mean who doesn't love a little history? But trying to get too deep or too symbolic can backfire. Complicated names might loose relevance to your target market. Consider this. If someone asks, "What does your name mean?" can you easily answer that question in 3-5 sentences? If not, try choosing another name. However, if your answer gives a personal look into who you are as a business, you're good to go.
2. Make sure your name is available.
Oh the pains of choosing a name and realizing that someone else already has it. When you decide on a name you should make sure that no one is using it already. That applies to domains, social media accounts, registration and plural availability.
Social Media Availability: “What if my name is available for a domain but not on social media?”
Option 1. Pick a different name. It's really important that all of your social platforms correlate with your business name. This will give you full control of the reputation under that title.
Is your business name easily legible? In ALL versions of it? With any type of business (online or not), your name will be written in a variety of ways. Therefore, it should be able to be read as clearly and consistently every time. Helpful Tip: Write down your business name as... a Title, ex: White Pony Designs
a Domain, ex: www.whiteponydesigns.com
an Email Address, ex: alex@whiteponydesigns(dot)com
Social Media Usernames, ex: @whiteponydesigns
The last thing you want with any business is to choose a name that is difficult to pronounce. I honestly feel as though it doesn't matter if you're an online business OR a brick and mortar one. You don't want anyone to be confused about how to properly pronounce your brand name. The easier it is to say, and remember, the better. It makes word of mouth A LOT easier.
So you've picked a name with significance and easy meaning, checked that it's available as a business name, domain and social handle, and it passes the legibility and easy to say tests. Awesome! But what's your competition like?