How do you Choose your Business Name – Here’s How!
We know that the key to a successful business is by streamlining every function like warehousing, fulfillment, packaging, deliveries, etc. to ensure higher customer retention. But do you know where does this process for success begin, exactly? You begin this process when you decide to start a business – whether online or offline. Our world is obsessed with branding, associating a label like Gucci or Prada with prestige and high quality, and looking at small-scale, less promoted businesses with suspicion. Therefore, it becomes very important for a seller to pick their business name wisely. Because the right company name brings shape to your business, provides it a solid entity, and brings brand recognition among your target market.
To a common man, choosing the perfect name of one’s business must be an easy task. However, we know what a complicated, mentally stressful chore it can be for a seller to come up with a shop name that is unique and just right. So allow us to help you out with this mission. Mentioned below are some tips and tricks to help you select the business name that will be the stepping stone to building a successful venture.
- Think About the Problem You’re Addressing
Merely searching on Google for some catchy business names is not how it works when trying to christen your hard work. Take a minute to yourself and think about what pain points your product is trying to solve for your audience. What are some features in your product(s) that make it unique from your competitors? To perfect the art of coming up with the right business name – the idea should be to play on the strengths of the service/product you’re selling. Because the more that name is connected to the problem it is addressing, the more your audience will find valuable meaning in your brand.
- Try Choosing a Name with ‘.Com’ Domain Name
Besides the fact that you want to look for some cool company names for your business, you must also think about this matter from a domain name perspective. The first preference must always be to secure a ‘.com’ domain name instead of going for ‘.in’, or ‘.net’. The psychology behind this is that your customers most probably think of a ‘.com’ website URL as an established brand, as opposed to the others. The more they think that your business is established, the more they would want to shop from your online store.
Therefore when choosing a business name – keep in mind the domain name of your eCommerce website, as well.
Speaking of the domain name, did you know that you can add a custom domain to your eCommerce store if you create it with Shiprocket Social? Yes, Shiprocket Social lets you build your own online store for free and enables you to establish a proper retail brand by helping you add your custom domain to the website URL. So get started today with building your own personalized website from scratch with this simple website builder and that too, without any initial investment or coding!
- Keep it Simple
In your haste to figure out some unique company names with meanings – we urge you to remember that it is always best to keep things simple and classy. Take some of the biggest global companies for examples. Google, Facebook, Chanel, Swiggy, Shiprocket – all these brands have always had the vision to become a name that will one day be associated with trust, value, and esteem. Moreover, a simple business name will help your target audience to remember and pronounce it without much effort. And in a world where convenience is of utmost importance, you have got endow your venture with a name that has great recall value.
- Research your Competition
We keep highlighting this to you repeatedly – doing your homework is imperative to your organization’s success. You need to ask yourself the following questions when trying to come up with a business name –
- What are the names of your direct competitors?
- Are their names simple and classy? Are they easy to pronounce and recall?
- What is their domain name? Is it ‘.com’ as per the first preference?
- What are some of the better qualities that you would like to take away from the firm name of your competition?
Ask these questions and get relevant answers to simplify the process for yourself.
- Do Trademark Research
If you’re looking to genuinely build a brand like no other, there is one thing that you seriously need to do to ensure that your business is unique, and that is conducting trademark research. Believe us, coming up with creative company names is amazing, but getting a trademark for something you’ve worked hard for will be even more spectacular.
- Take Feedback on the Chosen Business Name
It is always great to take feedback on your work. However, do so with the people you completely trust, because then you’d be sure to rely on such people for their candidness.
Now that you’ve reached the end of this blog, be sure to follow the recommended steps and come with the right business name for your venture so that you don’t just shape a social selling shop, but give shape to a legacy.