Posted by Sarah Brown on 24 Mar '16
Five top dangers to avoid when naming in your business
Take time choosing names both for your business and for any services. You invest a lot in promoting a name and it can be an integral part of the value of your business and your business success and marketing strategy.
The top dangers to avoid when naming:
1) You try to be clever
Our company name is Brown² Profit Consultancy Ltd. We thought it was witty, two browns coming together, I was Brown before I married a Brown but first you have to explain its not squared(the word), then lots of people including banks/bank cheque books/ can’t do a raised 2 so we become Brown2 Profit Consultancy. Wit and being clever may be clear to you but if it’s not either distinctive or reflective of what you do then there are better choices
2)You aim for the safe
Your personal name, a simple name with your business type in such as Brown consultant. This can be the right decision if you have a distinctive name and no desire to grow significantly/delegate or sell your business. The moment you want to developed from acting on your own then it can be a problem with notable exceptions like Elizabeth Arden
3) You miss the obvious
It sounds OK but you don’t examine all the ways it will be used. When a company was set up to allow people to exchange different services for children a good name seemed Kids Exchange but put the name together as a website address and suddenly it looks less good - kidsexchange – in fact they use a web address of kxconsignment despite still using the title Kids Exchange on the pages of the website. Similarly a good name in one language can be an insult or worse in another
4) It doesn’t work in the digital age
It can be too long so when you tweet you have few characters left , or difficult to spell so people get the address wrong. This can particularly happen with lots of letter repeats. Alternatively the domain is not available or it is a name which can never be made to rank in search terms as it coincides with a common search term such as M1
5) It doesn’t work in the real world
Someone else is using it or you can’t get the company name if you want to register it
We have been involved in the naming of the Delta card for Visa, Digital Law, Digital Impact Solutions, and Trades Accountant to name just a few and every time we start with an understanding of the audience and the offering – sometimes the name comes in a flash, often it takes work but generally they have a long life so it is worth investing the time.