Picking the perfect business name is an important part of developing your business plan. Your business name is the first thing your customers see and gives them the first impression of your company.
Before you settle on a name for your business, here are some things to take into consideration when starting your company in the digital age.
1. Think about Your Domain Name
When people have to type in a domain name, they want it to be easy. Short domain names are more effective than long ones. When you name your business, think about how it will translate into a domain name for your web presence. This does not necessarily mean that your business’s name has to be short. But it would be beneficial if it can be easily shortened for a domain name.
2. Think about Catchy vs. Clear
While some businesses are successful with catchy, opaque names like Uber, it’s sometimes more effective to sacrifice something catchy to make the purpose of your business clear to your customers. Trying to hard to be catchy can result in losing customers who have no idea what products or services you are offering.
3. Think about How Your Name Sounds
With an increasing emphasis on seeking information through voice-activated technology like Siri and Alexa, think about how your business name sounds, especially if you are saying the name to a device to get information. Your business name should be able to be stated clearly so that the customer’s device can understand what was said without having to repeat it multiple times.
4. Think about Mobile Users
More and more people are using mobile devices (smartphones and tablets) for most of their online activity. When you name your business, think about how it will look on a mobile screen. Long names, especially those with long words in the names, can be hard to display on mobile devices.
5. Think about Your Primary Goals
While the name of your company is important, it is not the most important part of business. Ultimately, it will not matter much what your business name is as long as you provide high-quality products and services to your customers.
When you are developing your business plan for a new business, the name of your company is an important part of the process. By thinking about how your name works online, you can start your business the right way.