What makes a strong business name?

What makes a strong business name?

Mon, 30 May 2016

A business’s name is one of its most important attributes. Along with the logo and brand identity it is the main way of identifying the company and differentiating it from its competitors.

there are a variety of reasons why a new name may be required, from undergoing a full rebrand, to embeding a new acquisition, . One of the most common questions we get asked when we are moving through the naming process with a client is 'what makes one name stronger than the other?'

How can you be sure that the name you have landed on is going to serve your business well into the future?

To download our latest fact sheet on creating a strong name for your business click here

Different types of business names

There are three main types of names for a business. Before brainstorming a name, consider which theme most aligns with the organisation’s service, personality and purpose.

name

Questions to ask when reviewing a name

With so many differing opinions internally and externally, and so many stakeholders to win approval from what lens should a business be applying to make sure that the final name they settle on is the right one for their company?

  • Below is a checklist we regularly use when assessing the strength of a name:
  • Is the name aligned to the strategy, values, positioning and personality of the brand?
  • Does the name differentiate the business from its competitors?
  • Is the name credible and appealing to the businesses target audiences?
  • Is it easy to remember?
  • Is it easy to pronounce and spell?
  • Is it short and simple and therefore unlikely to be turned into an acronym?
  • Does the name have long-term appeal?

The naming process can seem lengthy and challenging at times which is why we have created our latest fact sheet, Naming your business, so that you have the tools at your disposal to start the brainstorming process and help guide you and your team towards the right decision.

The fact sheet includes a guide on the types of names you should consider, a checklist for assessing its strength, a process for ensuring availability and a helpful list of tips and tricks to ensure the process goes as smoothly as possible.

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