Just how crucial is a good name for your business? Isn’t a solid company idea enough? Unfortunately, no. We live in a modern age where instant appeal and name recognition reigns supreme. If something doesn’t impact your audience right away, they will swipe away and keep scrolling. This means the pressure to capture an audience is at an all-time high. A captivating, distinctive name is a great foundation for connection between your audience and your business.
Imagine if Harper Lee names To Kill A Mockingbird a simpler and less iconic title like Growing Up and Learning About Racism. Though the novel itself would still have the same enduring messages, it probably would not have had such a profound impact on audiences because fewer customers would have bought it, to begin with. Without a unique and captivating name, it may not even have gained enough traction to become a part of the core curriculum of many schools across the U.S.
A good name is a lot like glue: it sticks, unifies, and endures. You should use your brand name as you would use any other business tool because so much of your business value hinges on the name.
Anchor your identity
Have you ever wondered how your life would be different if your parents had chosen a different name for you? Instead of Morgan, you could have been Riley? Would people have a different first impression when they meet you? Would your core personality traits be the same? Business names are not that different from real names.
A name is one of the first things potential clients and customers will learn about your business and will influence their first impression. It sums up various aspects of your brand in just a few syllables. A name gives your business a foundational personality and encapsulates your brand’s values, while still setting the tone for company culture. Essentially, a good business name is a foundational aspect of your brand’s identity.
Draw in the right audience
Strong names will draw your audience by creating common ground or appealing to their emotions. Names should offer a point of connection; if they do not, then you run the risk of not capturing the attention of your audience.
Take for example the clothing brand names J. Crew and PacSun. J. Crew is a classic name that is clearly targeting professionals who need workwear and conservative casual outfits. While PacSun, however, is targeting an easy-going, youthful demographic, and appeal to the California lifestyle. If the names were the opposite, the audiences would get confused, and the poor name choice could even drive away the target customer base.
Stand out from the competition
Competition in most modern markets is extremely high. If people see a long list of names, they will gravitate towards the most unique and evocative names.
A name like Apple, for example, uses an everyday organic object that everyone is familiar with and applies it to cutting-edge personal technology. The word “apple” has strong positive associations as it is a simple and accessible item. In a list of computer companies like Best Computers, Dream Technology, and Screens and Consoles, Apple jumps out and sparks interest because it is so unique.
Customers will be more likely to engage with your name if draws their interest through common experiences, visuals, and emotions. A weak business name blends into the competition and offers no inspiration. You can check out a list of great names at Squadhelp to get a good idea of what kind of names will stand out in the market.
Create an enduring presence
Forgettable names are going to be forgotten. Don’t let your brand fade into anything because of a weak, bland name. A name should never stand in the way of your success and growth.
Punchy names like Gap endure because they’re easy to say, remember, and share. When the company originally started in 1969, they decided to target a younger audience, and their name referenced the stark generation gap of the time. Now, Gap is an extremely iconic brand that appeals to a broad consumer base with their instantly recognizable name.
Tesla is another good example of an enduring name. Tesla is named after the famous engineer and physicist Nikola Tesla’s last name. Although Nikola Tesla himself was not around to see the birth of Elon Musk’s company, his eminence and contributions to the scientific world are a strong epicentre for a forward-thinking technological company like Tesla.
Both Gap and Tesla are short names that are easy to say, and remember. In addition, both names refer back to figures and ideas that many people are have basic knowledge of. Difficult names will drive customers away. If they can’t say the name, they are less likely to remember it, and less likely to share it, making your brand’s presence weak and possibly even short-lived.
Creating a solid business plan is only the beginning. Without a strong name to support your business, it may not perform as well as it could. A solid name will bolster a brand by giving people a point of connection and helping the brand stand out from the competition. Put time and thought into your business name. After all, it is the foundation of your brand.