One of the first steps to creating a business is deciding on a brand name. It’s how you’ll be known to the world, how people will find you and could determine your success.
UK formations company, SUAZ, have pulled together marketing and branding experts to share insights into how you should name your business. The full report covers factors to consider when choosing a brand name, how brand colours play a role, whether your name should be personal to you and more.
Factors to consider when choosing a business name
SUAZ asked three experts for their thoughts on the top factors to consider when choosing a business name:
Expert number 1 – Daphne Diluce – award-winning international designer, brand expert, business strategist and co-founder of Roar Media Creative.
‘In my view, the pivotal elements in selecting a business name revolve around customer comprehension. It must convey what the business or service offers, enabling clients to envision and grasp its purpose. This profound understanding is the key to attracting the right, loyal clientele to the business, ensuring constant growth and success.’
Expert number 2 – Chelsea Spencer – Head of Marketing, Fenn 1875.
‘Functionally – can you get all the domain and social handles of the brand name and have it the same, is there anyone else out there with a name like it (I’ve had clients in the past literally rip off other brand’s names just because they like it and then faced the repercussions on diminished marketing returns later due to confusion, overly competitive SEO / PPC).
Once I had a client that launched a sub-brand, created all the marketing and products for it and only then realised the domain they wanted was taken but not being used – the person who had the domain then tried to sell it to them for over 50k (they’re a medium sized business so to them this was a lot) – which they ended up paying because they’d already invested and marketed so heavily.
‘Also, trademarks. A current client is setting up their brand and they wanted to call it after a well known product of a direct competitor – it had a trademark on it and before they engaged with me they were having packaging and a website created under this. As soon as I embarked on the project with them I put a stop to it because the potential fallback would have been disastrous.
‘The less functional – ease of pronunciation, spelling (doesn’t have to be a real word like monzo) , the more simple the better traction they tend to get.‘
Expert number 3 – Andrew Burnett – founder of helleau®, a thought partner to self-aware brands.
A good name is SCUMMY™:
- Short
- Consistent
- Unique
- Memorable
- Meaningful
- Your brand appropriate.’
To find out more and read the full in-depth article visit https://www.suaz.co.uk/knowledge-base/naming-your-business