Perhaps one of the most challenging decisions a new business will make is the name of the company. This will be a decision that will stay with you for years to come and changing it down the line can be costly in more ways than one.
Basic considerations when choosing a name for your company
- Keep it short and sweet – Remember that people have short attention spans. The shorter your brand name, the easier it will be to remember
- Don’t box yourself in – Businesses grow and evolve over the years, so be sure you don’t choose a name that limits what you can offer
- Check out the competition – You don’t want to pick a name that is similar to a competitor accidentally
- Check for trademarks – The last thing you want is to get caught up in a lawsuit, especially in the early stages of building your brand
- Think about your marketing strategy – If it’s going to cost you the earth to market your brand name, it might be worth choosing something else.
- Choose something easy to say and spell – Word of mouth is a powerful marketing tool, so you’ll want to make spreading the word as easy as possible.
Top 20 overused words included in brand names
With so many businesses in play and more being registered every day, it is getting harder and harder to choose an original name. To help, the team at Squibble have analysed thousands of brand names to ascertain what words are utilised the most.
Perhaps the most useful advice we could give when it comes to choosing a name for your business is to avoid any of these. That will already make your company more memorable and help you stand out from the crowd.
Top 20 underused words included in brand names
In addition to ascertaining the most overused terms in branding, we also looked at which words were underutilised, and we were surprised by some of the results. There are some eye-catching words here that could help your new business stand out. The best part is that there is very little competition for them.
Should I name my business after myself?
No matter where you are, you can guarantee to see a car or van drive by advertising a company that is obviously named after the owner. Have a think, do you remember the name of those businesses?
Naming a brand after yourself can make you feel pride in what you have accomplished, but unless you find some way to do this creatively, you will probably find that you seep into the background with all the others.
Should I trademark my business name?
Earlier, we mentioned checking the trademark of any business name you are contemplating using. We recommend going one step further and trademarking your company name and logo as soon as you can.
Not only will this prevent others from copying your brand name and feeding off your success, but it will also stop anyone trademarking later down the line and demanding you change your company name.
Is it hard to change a company name?
You may be wondering what the big deal is, if you want to change your company name a little way down the road, it’s easy, right? While it is simple enough to rename your brand, you’ll have to consider that you have built a strong relationship with your customers. Suddenly having a different name overnight is confusing, and can call into question the legitimacy of your business. It also requires a lot of additional work if you have invested in digital and traditional marketing.
While it is possible to change your business name without too much of a detriment, it can be costly; therefore, a little more time and effort the first time round is more than worth the effort.
It’s essential to really think about what you want your new company to be called but remember above all to have fun. You are embarking on an exciting adventure, and you should cherish every moment of it.