Choosing a great corporate name

Choosing a name for a new business can be a challenging task.

It is so much more than just a name, it gives customers a sense of your products and services, your values, and your commitment to their satisfaction. The right name will let potential customers know what sets you apart from your competition and encourage them to give you a try. Of course the wrong name can have the opposite impact on your business.

Many new business owners have a difficult time choosing the right name the first time around. You must think carefully about the name you are giving to your company. While your first choice may have personal significance to you, unless it can really speak to the hearts
and minds of your potential clients it will not be effective.

The name you choose for your business should give potential customers a clear picture of what kinds of products and services they can expect to receive from your company, as well as a sense that you are committed to the highest standard of quality. A good company
name should make what you do so appealing they want to rush out and buy whatever you are selling.

A poorly chosen corporate name will not give your potential customers any sense of the kinds of products and services you offer. A name like this will not speak positively to customers and will not help to improve sales.

If you have a name that is not working for your company, it needs to be replaced. The following six elements can help you to determine the most effective name for your company.

Tells Who You Are
One of the most important elements of branding is that your name reflects your corporate identity. Your corporate name is the thing that you will be promoting and asking everyone to remember and notice. It is how you want to be perceived by the public.

For some new business owners, this sense of identity will mean that they use their personal name in their business name. You often see this strategy uses for legal, medical, or accounting professionals.

Many other business owners prefer to go with a name that describes what they do, for example “The Cookie Lady”. While many customers may not be familiar with your first or last name, they are sure to be familiar with your product if it is of a high quality.

Tells What You Do
So many companies out there have names that do not give any sort of clue as to what they are about, as you can see from the following examples:

• Brown and Co.
• Jones and Sons
• Best One

There is no way that you will be able to tell me what any of these companies does. Using a name like this means you are counting on your customers to have some knowledge of what you do, which is a risky assumption for a new business. The only way that they can
really have some idea of the type of business you have is if they find you in a particular section of the yellow pages.

Tells How You Do It
You can create a powerful image for your company by the words your select for your corporate name. Look at the names of three different massage therapy centers:

• Hidden Valley Therapeutic Massage
• In the Clouds Massage
• Quick Spa

While all three businesses are offering massage therapy, it is very clear that the emphasis of each business is very different. The first business appears to focus on the therapeutic impact of massage, the second on the relaxation factor, and the third on speed of service.

Choosing a Great Corporate Name Part 2
It is so much more than just a name, it gives customers a sense of your products and services, your values, and your commitment to their satisfaction.

Basics Of Corporate Identity Book | Business Management Articles |

Choosing a Great Corporate Name Part 1