Do you want to give an ideal name to your business or startup?
Naming your business seems like a menial job, but it plays a crucial role in branding and customer acquisition. It is imperative to keep certain points in mind before jumping straight to a decision. Examine the guidelines consisting of the 6 Cs listed below.
- Catchy: It is highly suggested to give a Unique, Short, and Easy-to-remember name to your startup business. Why so? one must be wondering! It is because of our playful memory and brain. Our brain retains information that is crisp in nature and is associated with emotion and physical sensation. Too much information without holding meaningful value is inevitably forgetful.
- Clarity: Without a doubt, everyone has heard about Tesla Inc. Tesla is a firm that deals with electric vehicles, as suggested by its name, which was given to it in honor of Nikola Tesla, who made significant contributions to the invention of the contemporary alternating current (AC) electricity supply system. When someone learns about Tesla Inc., it is simple to remember the name of the company or its description of the industry by simply hearing the term again.
- Concrete: The name should be concrete or able to describe the experience that you want to offer your target audience. It must showcase the attitude, essence, and goals of your business… How? You must be aware of Reliance Group and Amazon. Both of the names depict the benefits of their products and suggest the value they can add to the customer experience. For instance, Reliance chose this name because that connotes the trust and confidence they deliver through their services.
- Competition: Before finalizing the name, know whether the name of your startup is new and not identical to any other of your competitor. Similar names can create confusion for your vendors and customers which can eventually result in the discernment of revenue figures. Apart from this fact, the major issue can be litigation or legal abstractions in the business, moreover, difficulty can be encountered with respect to trademark protection and obtaining a patent.
- Cognitive decision-making of your own: Many times, we prefer asking for suggestions from our family members, relatives, and friends. It may work out for some people but a certain level of risk is associated with it you may wonder how? We all are unique and have different ways of expression so if you are starting on your own it is better to listen to your heart. People might feel offended if you don’t implement their suggested ideas which can hamper your relations.
Rather, you should only ask trustworthy or well-connected people about the names that you have selected and ask them the reason for liking those names over others.
- Calling it: Avoid making a mistake when trying to come up with a distinctive name that results in a name that is challenging to say. Numerous audiences or clients might be served by a name that is simple to spell and pronounce. Examples of business names that are simple to spell and pronounce include Zara, Cello, Nike, Jio, and H&M. The name should never be confused with other terms when it is uttered.
A company’s name is everything; it gives the first impression to your audience about your company’s goals, values, products, and services. So why take a chance and jeopardize your brand’s positive image?
Do a careful analysis of all the tips provided here and follow every step to ensure business success. The process has to be delineated and may take a while to incorporate, but it is about the future of your business, so be cautious and mindful; the rest will follow.