Take care to get born well -George Bernard Shaw
What’s in a name? Quite a lot.
A powerful name is essential for developing and maintaining strong relationships with your customers. Customers need a name to identify, remember, discuss and compare several businesses. A name if perfect can be a company’s greatest asset, setting it apart from competition. The wrong name can cost a company a fortune to fix and can translate into lost income.
If you pass the 6 criteria below, lucky you! You’ve got a fantastic name there!
- Distinct: Does your name stand out from the crowd, especially from other names in its category? You don’t want to be confused with another business anywhere else, do you? Think Rolls Royce
- Brevity: Is there a chance your name will be shortened to a nickname in the future because it is too long? Is it short enough to be remembered and used easily? Think Olay
- Easy Spelling & Pronunciation: Is your name easy to spell and pronounce? Think Nokia
- Likability: Does your name feel good in the say? Will people enjoy using it or will be a tough battle for people to use? Think Disney
- Extendability: Can your name lend itself to some creative executions? Can you register it as your URL? Think Google
- Defensible: Can you lay sole claim to your name? Can it be trademarked? Think Rolex
A good name can help accelerate the brand building process. Take time and care to get your name right because a wrong name could hinder your brand building process. Are you launching a new business, product or idea? Then, take time pondering on the six criteria highlighted and be guided by them as you select the right name. Years down the line, you will be happy you did as copycats spring up around you. After all, success has many friends.