Why Your Company Name Is As Important As Your Company Function.
It’s amazing how crucial a name can be. It plays a monumental role in a brand’s growth and perception, meaning it can completely make or break a company. For every company whose name becomes an entrepreneurial landmark – Apple, Uber, Google, etc. – there are countless whose names don’t properly reflect the brand, and the company suffers because of it. We know the sheer power a brand can have, and when a name is the face of the brand, getting it right is absolutely crucial. Here’s why.
It’s The First Thing Customers See
Entire relationships are dictated by first impressions, so making a powerful impact immediately is a necessary key to branding success. The first thing a customer interacts with is a name, so it has to convey the right message; it has to wow the audience. Think of it as a first handshake; it says a lot about the person and makes a powerful impression. “A catchy unique name can also help customer remember you, and we all strive to be memorable and retain customer. The shorter and easier it is to spell the better.” Said Margot Bushnaq Founder and CEO of BrandBucket. A great name has the power to build a long-lasting relationship between a company and customers, but on the other hand, it has the power to ruin otherwise great relationships.
It Sums Up Everything A Company Is About
Quite a few factors go into the perfect name, so simply thinking of a company name off the top of your head isn’t exactly the best strategy for a brand. It conveys a variety of emotional appeals while establishing a company as a leader in an industry. “I remember we thought about it for weeks and went through tons of options. Finally, my business partner Adam Topping came up with the name CustomOnIt, which beautifully sums up everything our company was going to do –help people put their logo on a variety of promotional products.” explained Co-owner Paul Serra. Basically, it’s an incredibly brief summary of everything the company is about. Think of some of the largest names in the world – let’s revisit Apple. Specific values and beliefs are attached to the name, and their brand is solidified because of it. You think of more than just their products; you think of Steve Jobs, elegant design, and the like.
It’s Your Unique Take On An Industry
There are a lot of companies within any given industry. Even newer industries quickly gain traction and attract entrepreneurs, which means that a lot of companies provide similar services for customers. What makes customers choose one company over another? The character of a company; as Simon Sinek might put it, their “Why?” Branding sells, and the name stamped on a brand does most of the footwork.
To put it simply, it’s more than just a name; it’s the identity of an entire brand. It deserves time and attention, and when handled properly, it’ll change a business forever.
Article is taken from Inc.com