Best Practice: Company name with initials/numbers is shorter, easier to remember, but people may not know what you sell. Tagline can help.
Today’s Article: Creating a Company Name with Initials or Numbers
Company name with initials or numbers are simply composed of letters and/or numbers. These letters or numbers may be a way to shorten a longer company name, a concept tied in with the company or owners just like the look or sound of it.
Examples: CVS (originally came from Consumer Value Stores), BMW (originally came from Bavarian Motor Works), UPS (originally came from United Parcel Service) or 3M ( originally came from “The Minnesota Mining and Manufacturing Company”) or WD-40 Company (“Water Displacement, 40th formula”).
Pros: Can be easy to say, spell, remember and allows for growth. May be a good way to shorten a longer name or ties to a unique business concept.
Cons: May be difficult to find an available domain name and one that is trademark free, especially for initials. With just letters or numbers, people cannot easily tell what the company sells. A great tagline can help with this.
Other Examples: B2 Gold (Bema Gold Corporation), 3D Systems Corporation (name after 3D printers), AOL (America Online), AT&T (American Telephone & Telegraph), BB&T (Branch Banking & Trust), FIM (Fox Interactive Media), Guba (Gigantic Usenet Binaries Archive), H & R Block (Henry W. Bloch and Richard Bloch), IBM (International Business Machines) or T2 Biosystems (T2 refers to the measurement of the reaction of water molecules in the presence of magnetic fields.).
Brand Name Filter
The brand name filter below will help you objectively evaluate how available and good a name is.
Number System: 0-poor, 1-fair, 2-good, 3-excellent.
___ Easy to Say and Pronounce
___ Easy to Remember
___ Easy to Spell
___ Name is Web-Ready: Exact Match Domain Name with no hyphen (Domain Search)
___ Trademark is Available (Trademark Search)
___ Available in Your State (Online check with your State Department of Incorporation)
___ Social Media Identity Availability (Example Facebook (B2C), LinkedIn (B2B), etc.)
___ Stands out from the Competition in a Favorable Way
___ Has no Negative Meanings (Example: when translated to a foreign market’s language)
___ Name Allows You to Add New Services or Products in the Future
___ Number of Points
Action Step: Make a list of initials or numbers to create a company name. Come up with a list 1-3 that you like. Next go to the name filter above to evaluate them.
Note: If you are having trouble coming up with a name that you like and is rated high by the brand filter, it may be time to look for an outside source to help you i.e. Ask the Expert.
Recommendation: In a branding process, it is important to look at name possibilities in different name categories: Literal, Attribute, Legacy, Word Combination, New Invented, Related, Alliteration or Rhyme and Inquiring. This helps you expand they way you look at your company, to find the best name to connect with your target market, that stands out from the competition and reflects your brand position.
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