How Important Name Selection is When Starting a New Business

by Andrew Larson
Published 11-12-2015

When an individual or a group of people prepare start a new business venture, there are numerous items that will need to be completed before the doors are open for business. Some of these items must be done in a specific order if the start-up is going to be successful. One of the most noteworthy is selecting an official name for the business. The name of the business is an important factor in its overall success since it must capture the consumer’s attention, while also driving other activities that must be done before implementation.

Deciding on the best name for any business can be accomplished in at least one of three ways, one of which includes hiring an agency to assist with identifying the best name, naming the business operation after someone or something that the owner knows, or simply naming the company something that pops in their mind. All of which can be a viable resource for identifying the best company name.

The company's name is needed for numerous purposes. Some of which involve developing an effective marketing software plan, beating the competition, and developing a new website for the company. The name is also the first impression that a potential customer is going to get from your business, so it's very important. 

Using a Name to Initiate a Marketing Plan

Every business needs some sort of marketing plan to attract new customers. Typically, the initiation of the marketing plan or approach is tied directly to the name of the business. This is because the name of the business is needed to print ads, develop and distribute marketing materials and the like. In fact, the company’s name should be taken into consideration from the beginning since the name itself can be the greatest marketing ploy that the company may have available.

Using a Name to Beat Out the Competition

The name of the business can be used for numerous purposes. In fact, some companies use the name that they choose to beat out their most aggressive competition. Which means, the name may be used to create a jingle that’s easy to sing along with or it may be used to remember a popular steady beat. In some cases, the name itself can be used to beat out the competition. Specifically, if the name is related to a new trend, famous celebrity or other items that people identify intimately with. Regardless to the name that's selected, its best to select it with the competition in mind.

Naming for the Website and SEO Strategies

Every company needs a quality web design for their site if they want to have an effective online presence. Before designing a company’s website, the web developer or web development team will need the company's name to build the initial concepts. The initial concepts will be in part based on the name of the company. The name is also used as part of the company's brand or it may be the brand itself. In either case, the site cannot be started properly without this major piece of information being provided. For instance, once the name has been selected, the company may need a logo design theme that can easily be recognized and remembered by their clients and customers. 

It's a lot to think about which can cripple many new business startups. Often it's a task best left to professional naming companies such as Branditory or by scooping up a pre-built package with services like Brand Bucket.