Best Practice: Select a name that is easy to say, spell, remember, allows for growth, has matching domain and stands out from the competition
Today’s Article: 10 Tips to Selecting the Right Company Name
When selecting a name, select one that is good for the start-up phase, but is also good for the scale-up phase. Pick a name that works now, but can grow with the business. That is a good name.
When selecting a name look at the customer first and a name that would connect with them. Pick a name considering demographic, psychographic and generational characteristics. Next look at competitors and select a name that will stand out when people look for your type of product or service. Also review your competitive advantage. Use a brand name filter, when evaluating potential names.
Brand Name Filter
For each quality that your name matches, you get a point.
___ Easy to Say and Pronounce
___ Easy to Remember
___ Easy to Spell
___ Pick a Name That is Web-Ready – Exact Domain Name is Available (no hyphen)
___ Trademark is Available (Check with http://www.uspto.gov/)
___ Available in Your State (Check with our State Department of Incorporation)
___ Social Media Identity Availability ( Example Facebook, Google Plus, Twitter, etc.)
___ Stands out from Competition in a Favorable Way
___ Has no Negative Connotations (Example when translated to a foreign language)
___ Name Allows You to Add New Services or Products in the Future
___ Number of Points
Action Step: When you have a name that you like, use the brand name filter above to evaluate it.
Note: If you are having trouble coming up a name with high points that you are happy with, explore using an outside source to help you i.e. Ask an Expert.
Your brand is your handle. The handle that opens the door to your business, its products and services. Brand Door is always open to you. “Easy access to expert branding”