Importance of Good Business Name

The business name is the medium through which your customers or clients meet you for the first time.

It wouldn’t be wrong if we call your business name your sole representative. Because it carries your company’s reputation, irrespective of its extreme goodness or desperate failure.

There even have incidents we heard of that explain how people judge a brand simply by hearing its name.

The thing is – by selecting a good business name you can make your possible consumers believe in the high quality you would be providing and a crystal clear view of what the people can expect in case they are new to your service or products. 

Every Entrepreneur should be well aware of its Business and Product naming process and also knows the importance of a good business name.

Your potential customers must be able to recognize what your company is selling by looking at the name.

There are many things to know before choosing the right name in branding your brand like you need a starting point as to What personality you want to project, what type of customer are you seeking. For any business or company name, you can generate catchy names online easily.

Importance of Good Business Name

Creates Identity

The business name carries the value of defining a business’s nature and its identity. Not all type of businesses is the same in nature as their names. They vary according to their working pattern and category of product or service.

Not only do business names give identity to the business itself but it creates a new segment of value for the customers.

People can identify the products offered by your company easily because of the good business name. It gives them another vibe to remember your brand name, especially for its unique and amazing products.

Memorability

Complex names always seem to get forgotten by the customers or any passer-by looking at the billboard mentioning creepy unwelcoming names. But on the contrary, good and easy names that fit on the mind easily get half of the branding job done.

For example, names like Intel, Amazon, Walmart fit easily on our brain and help us to memorize easily. You are not going to forget these names easily and their nature of product or service also.

The business name has its effect on branding and promoting your service to the customers as well. On the other side, memorability leads existing customers to spread your business towards newer customers and get the marketing job done without any cost.

Motivating Factor

If you are the founder of the business then you must have given a nice name of it according to your taste and business nature. So, it is undoubtedly involving your passion and dedication for your beloved business.

Seeing your given identity every single day is a forwarding motivating factor for any passionate business person.

You try heart and soul to make it long-lasting and profitable because it involves your emotion into it. Ask any entrepreneur who has established any business and doesn’t love its name.

I have full confidence that you will get maximum people saying about their love towards the business name.

Brand Recall

It’s not about the brand name memorizing all the time, rather there is another significant thing that is more related to your business.

That is brand recalling through your brand name. Suppose your company offers something that is not needed all the time or the nature of the product is not needful all the time.

In that situation when they feel your product should get name remembered at first which is only possible by having a good business name.

If your business name is beyond memorizing and has a creepy name compared to your competitors then you are certainly going to lose some of your possible customers.

Besides having a good name leads others to promote your business without any marketing cost.

Word of Mouth

For any business, whether it is small or big, word of mouth is a long-term asset it. Existing customers often suggest others buy products or services from the brand they know is called the process word of mouth.

For example, if your business produces Bluetooth headphones and your company name is “Brikx” then it is more likely for your customers to spread the name.

Short and easy-to-remember names are always welcomed by the customers not only for branding purposes but also for easy memorizing.

When your existing customer recommends your product to a new group of people, there will be an increase in the number of yearly sales resulting in a healthy gross profit at the end of the year.

When you choose a creative business name for your business and your service there is little chance for the customers to forget it.

Moreover, people will find it easy to search on the internet or in the local area in which it has a good and memorable name.

For example, Idea is a cellular network service providing company in India. People can memorize it easily and they don’t have to put extra effort into recalling for searching on the net or recommend to others its service.

Though small names are not the only key to success, rather it has to be meaningful and relatable at the same time.

That particular name can be long but have a nice background story for it. That will lead to engaging better with customers and creating a long-term relationship with them.

That’s all. Not to mention, these points help you perceive the importance of a good business more deeply. So, why not choose a perfect brand name to bring the best out of it?

Choosing a Creative and Catchy name is nothing but a process. The More brainstorming and the cognitive way you can get a good name for the business.

Here is the Infographic which will guide you about the different approaches and methods to choose the right name for your business. Read more for Inspiration.

naming business infographic

Additional Sources

Leave a Comment

Sharing is Caring

Help spread the word. You're awesome for doing it!