5 Tips to Naming your company like a PRO !
TIP# 1 – Do not use acronyms. You put your company at a disadvantage when you do. It makes it harder for the consumer to understand what you do and what makes you unique. If consumers don’t understand, you lose them.
If you called your company “AMSU Shoes” because you have a daughter named Amy and a daughter named Sue, so you took the “AM” from AMY and the “SU” from Sue then merged them to create a business name. It’s a sweet gesture, but, this is not a good naming strategy.
Better to try and include a benefit to the consumer in the name or a unique selling point. Like “BETTER SHOE SOURCE” or “AMAZING SHOE SHOP”
TIP# 2 – If your business lends itself to directory advertising and/or you have a business that does trade shows. Try and name your company with an “A” if possible because you will be at the front of the directory for your category. This gives you an Advantage.
TIP# 3 – Try and make your name very clear as to what you do. The clearer and more concise, the better. Your target audience is being bombarded with messages and yours has to cut through the clutter.
TIP# 4 – Include a Tag line in your name to make even clearer as to what you do and what sets you apart from your competition. If you sell shoes at a huge discount, your tag line might be “Great Deals, Everyday”
TIP # 5 – Review the competition as part of the naming process. Say you had a burger restaurant and you thought the main competition weakness was that they fry their burgers but you BBQ yours. Maybe your name should attack the competition where they are weak. A name like “THE BBQ STATION” might work with a tag line “Grilled burgers, cause they taste better”
Written by Paul Cookson, Small Business Marketing Consultant
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