In “the good old days,” companies were either named after their founders or a company name gave you a hint as to what their owners did. Today, choosing a corporate name is not as simple. Trying to get two or more people to agree on a name is hard enough but when you add in trademark and URL considerations… yikes!
The first thing you should do before choosing a corporate name is to take a look at your competition and the type of branding approaches they use. What type of language do they use? What are their attitudes and personalities? Once you have done a little research, you should look for a name that is a little more interesting or unique and use it to separate yourself from the competition.
Sometimes using your personal name, initials or combining the names of owners as your business name works well if you already have a proven track record in your field. This approach adds a sense of personal attention and responsibility because the people whose name appears on the door are ultimately responsible.
Tying in a story to help with name recognition is also a fantastic way to brand your company. The name of my company, “ChaRene,” is a combination of my name and my mothers name and was created over 23 years ago. I am always amazed how people love hearing the story behind my corporate name which makes me unique and memorable to mostly everyone who hears it.
Choosing a name that starts with the letter “A” or other letter high in the alphabet is a brilliant way to be listed ahead of everyone else in web or print directories. Even my company name that starts with the letter “C” ranks high in search engines and often brings me up first on page searches.
Some experts think that the best names are made up or abstract so that an image can be created around a name. Others think that corporate names should be informative so that a customer knows exactly what your business is and does. As in every part of life, there are no cookie cutter solutions that work with every business model. It is important to keep in mind that with the appropriate marketing strategy almost any name can work if it has meaning and uniqueness to you and your product or service.