What's Your Name?
What is the name of your business, product and services?
Your business name is usually the first image someone gets of your company and it is often imbedded in his or her mind forever.
People have a hard time separating reality from perception. If you have a bad name, then you won’t attract business; so the best option is to get a new name. A bad name never gets any better and good names are remembered forever.
One of the most important marketing decisions you can ever make is choosing the name of your business. Your name should explain or “tell a story” of exactly what your business or your product/service does.
Choosing a name isn’t easy. There are so many names already in use for various businesses, products, and services that coming up with a name that is “new” can be very difficult. But remember: your name will help determine your position in the marketplace.
Choose a name that tells prospects what the major benefits of your business are and how that can help them.
Great examples of “the perfect name” are: “Die Hard Batteries,” “Burger King,” and “Pure and Natural Soap.” These names tell a lot about the products they are selling. Select a name that is generic enough and still describes what you do. Newsweek is a fantastic name for a weekly news pub¬lication. Value City is a great name for a discount store.
It is also important to think about the future when you are deciding on a name. Choose a name that won’t become “out-of-date,” or one that would allow a competitor to come in with a better, more descriptive name and take your marketing position away.
Your name could well be the difference between success and failure in the marketplace. If you are first to the market with an unusual name like Xerox, and you offer a great product/service, then your name can be almost anything. But you can’t get away with an unusual name if you are not the first into the marketplace, and own the top position. It’s hard to build market identity with a non-descriptive name, unless you are the one who creates the market.
Does your business name help or hurt your business?