You may wonder whether Google would be so phenomenally popular had the founders decide to company name their business BackRub. Likewise, many critics feel Sony wouldn’t be a global powerhouse had the founders stuck to Tokyo Tsushin Kogyo, the company’s original name. It would people still love Pepsi had it been call Brad’s Drink? While naming a business or brand, it boils down to one crucial thing. It is incredibly critical to choose the perfect name for your business. According to the Entrepreneur, naming a business is similar to laying a building’s cornerstone. When it is place correctly, the entire structure and foundation of the building will be align to that particular foundation stone. If it is not placed right, the rest of the construction is bound to be off, there will be misalignment. That is why it is best to steer clear of some of the common mistakes while naming a brand or business.
Mistake: Not Doing Legal Due Diligence
Do not decide on a company name without verifying if it is free to be trademarke. You may do enough research to ensure that nobody has already chosen the name. The biggest blunder many companies make is trying to identify a name that you may use legally. The world of business is full of trademarks, and it is an overwhelming task to identify a trademark that is still available for use. Most company naming projects start by shortlisting a few favorite name ideas, but they soon discover and realize that none of those are available. It is best to unravel the issues at the initial stages. It is incredibly frustrating to name an organization and then change the name later. Could be expensive and equally disruptive.
Mistake: Failing to Examine the Digital Presence of the Chosen Name
You need to verify if you could get the best or preferred domain name for your selected company name. You may check if consistent and relevant social handles are available. Is there a spammer using the same name already? It could create confusion for customers looking for you. They may come across a different and inappropriate product. In this highly digitalized era, you should examine the digital presence of a specific name you have chosen. Verifying the digital presence of your selected name is as critical and essential as verifying its legal availability. It is best to reject a name if you have to compete with a ‘corporate behemoth’ or a shady business.
Mistake: Choosing an Unbelievably Descriptive Name
Avoid choosing an excessively descriptive name for brand to steer clear of expensive rebranding if there is a shift in your core focus in the years to come. A rebranding process could mean losing precious time, money, and loyal clients.
Mistake: Choosing an Obscure Name
It is an excellent idea to choose a name that has a special significance or meaning. It could be useful in conveying your core business message. However, if the name is obscure and hard to pronounce or spell, customers will not bother to know the significance and assume that it is irrelevant. If your name is too perplexing or complicated, customers will be happy to let it remain a mystery. It is a fact in the event you are trying to reach a mass audience.
You cannot choose a memorable name for your company or brand if you rush through the naming process. You need to use your creativity and avoid the above-discussed pitfalls to identify a name that works best for you!