Inspiration for a good business name may represent many things. It might be a product term, like Spotify, or it could have a mysterious meaning, like Amazon. Your company's name counts a lot. It perfectly captures your brand's story, reassures customers about your service, and should be spectacular to target audiences. So it's no surprise that naming your firm can be challenging.
Things to consider when naming your company?
Meaning
Decide what you want your company to say; it really should embody your goals.
Likeability
Choose a name that appeals to perhaps you and your marketing objectives; your product should be pertinent to them.
Relatability
Choose that name that your key demographic can resonate with on an intuitive level.
Avoid unusual spellings
Avoid using extraordinary transliteration; new forms and spellings of foreign words could easily make it more difficult to find you.
Be mindful of translations
If you choose a humorous or abstract name, double-check that which doesn't have a bad or unpleasant quotation in any other country.
Think of the future
Avoid names that may minimize your company's future scope or expansion. For instance, you may begin by producing outfits for the Lagos climatic condition. Avoid titles like 'Lagos Dresses,' as you may decide to start creating skirts, tops, and trousers for clients and the community as your company expands. You don't want to mislead your audience or purchasers if this happens.
Say no to long names
Avoid long, ambiguous names; you would rather have a simple name to spell, pronounce, and easily remember.
Be unique
Choose a name that seems to be genuinely distinctive to you. Due to the nature of your business, you wouldn't want to set up a tiny business and then realize when it's time to scale up that there will be a company someplace with the contractual right to prevent you from using the name; imagine how much that can cost you.
Visualize it
Consider how your name will appear/sound in print, radio, and television advertisements. A good marketing name may rapidly attract the attention your company requires. Nevertheless, choosing the wrong trademark can be devastating, ranging from lost investment possibilities to proceedings.
Conclusion
A product's name is what distinguishes it from the competition. When marketers consider implementing the brand extension method, a strong brand name provides customers with remember and positive reviews.