Not until recently did I really get into naming strategy. I have been under the impression at times that if you build a strong brand you can call your business a lot of things and still be successful. While that can be true after much thought and research I’m learning the error of my ways. A name, and naming are really important in business and here is why.
When a name is too general, a common phrase or similar to a string of words people put together often it is hard to break through the SEO rankings. If I learn about your business from a friend and type it into a search engine to look it up, its likely that other businesses that sell similar products come up before you do. If you haven’t spent enough time building your SEO and advertising to beat out the competition you can lose your sales to a competitor that outranked you. Consumers have very small attention spans and will likely not continue searching until they find you.
With Covid-19 impacting so many businesses now more than ever is it important to differentiate yourself from your competitors. Making names easy for the consumer to say and remember is a win. Try creating a name with one to two words to embody your business. Anything more than that will be subject to shortening by the consumer. So if you can’t imagine having a 1-2 word business name at least have a great acronym for your business. An example of this is the company The Home Edit. Their acronym is T.H.E. This is genius because it's easy to remember and it spells one of the most common words in our english language.
In any language there are emotions tied to words either good or bad. Choosing a name that has positive connotations helps people to think positively about your brand. Or if there is another type of energy your brand is trying to portray having that within the name can add to how you are viewed by others. If you are able to find words that your target audience can easily identify with then you have also hit a home run.
To have some success in business is great and there are a lot of ways we can get there, but don't be mistaken by the giants and how much design and digital strategy played into the growth of their companies. Sure you may be successful now, but there are always new goals and higher heights to reach. Don’t settle for what has been working despite what is missing. Invest in your business and in its name.
A Black Owned Design Agency.