When you are thinking of the biggest players of the game, Tesla, Amazon, Microsoft, and Apple, it seems like their names make sense. You just associate the brand with the thing they do. It is quite remarkable how vital the name can be for a business.
It is one of the factors that could either make or break an up-and-coming startup company. All these giants started small, and there are plenty of others that didn’t make the cut.
However, many people wonder whether the company name should be unique.
Click on this link to read more: https://smallbiztrends.com/2019/07/3-solid-reasons-you-need-a-unique-business-name.html
There are great examples from both sides. Let us take Walt Disney as an example. It is a personal name, and yet, everyone in the world knows their cartoons.
Apple is the name of a fruit, and it is also the biggest tech company that competes with Microsoft, which is a unique name. This means that it is not about being unique. Instead, it is about getting it right. Here are some of the reasons why.
The name is the first thing everyone sees
Think of your brand as an extension of yourself. When you meet someone new, the first thing you do is introduce yourself. Depending on your reputation and whether they have heard of you, that will dictate their opinion of you, as well as the first impressions.
This means that a name can have a powerful impact when it comes to branding and getting the right message across. Your best bet would be to find something short and sweet, as well as being easy to remember. If it is too long, people will have trouble remembering it, and that’s not the right way to go when you want to create long-term relationships.
It’s a new take on a particular industry.
Many people have a fear of starting a business of their own. The first thought that comes to their mind is that everything is already invented, and they have nothing new to add, but that kind of mentality is completely wrong. Follow this link for more info.
Even if the market is completely full of something, you might be someone who can add a twist and make it better. Many businesses have the option to provide similar services, but the best ones climb on top. When you think of a name, it has to be something that sounds a bit corporate.
It has to give off a sense of trustworthiness, and it has to stand out from the competition. If it is too childish, people might think that you are just trying to appeal to a young audience by copying some trends from social media.
Let us take Uber as an example. We all know that it is a company that made an app to give people a ride and connect them to a driver that is nearby. It is an improvement on taxi services, and that is why it is a billion-dollar industry.
The name itself gives a sense that it is something better because the word uber means superb. When you have the choice to pick between a taxi and something superb, you always go with the second choice because it gives you a sense of better service.
If you have a name that clicks and stays in your mind for a long time, that is a winning formula to follow.
What are some mistakes that people make?
Most businesses fail in their first year after starting. There are a lot of factors such as money management, marketing, and leadership that matter, but most people forget one thing. That one thing is the image that you create around your perception.
Too many people expect their brand to take off just because they think it is better than everything else on the market. That may be true, but if you do not get the timing and branding correct, it will not matter.
It is better to start early and build up momentum, so you are there when the market is ready to buy what you are selling, instead of not having a name at all.
Plus, when you are in the process of brainstorming, do not make it difficult to pronounce. If you have to spell it out every time you say it, that’s not a good thing, and you need to change it immediately.
You might need to call Brandlance naming agency if you get stuck. Also, naming a company after something too generic is another big mistake.
It will make you sound like everyone else, and most people would not even know that you are different from your competition. That is why you always have to do research and see what your competitors are doing.
It does not make sense to imitate and mimic someone who’s already successful. Instead, be more strategic and come up with something creative on your own. As soon as you set yourself apart from the pack, it is going to become easier since that new name will be the thing that represents you.
Trends come and go, but names stay with us for a long time. It might seem funny or relevant to name your company after something that is trending at the moment. But what if that trend fades away in a month or two.
Do you want to be remembered after something that is not relevant anymore? A truly good business can influence the trends and then roll with the feedback. Starbucks is a great example of that. When Game of Thrones was airing, one of the episodes featured a cup from this brand.
This was the start of so many memes, videos, news articles, and podcasts about the mistake. However, this small mistake brought in more than 1.6 billion dollars of revenue for Starbucks. It might have been an honest mistake, but it was one of the best ones they ever made.
Don’t overthink it
People want to make their lives harder by overthinking. You are the one who gives value to the company, not the other way around.
Even if you have a basic name, the value you bring into people’s lives will be the thing you will be remembered for. Focus on your team and do the heavy lifting at the start.
This will set your company name in stone, and soon enough, it is going to be the thing you wanted it to represent.