Choosing a Business
Name
You've heard the saying, "that you don't get a
second chance to make a first impression." This adage couldn't be
more true in business. Your probably saying, "I know that's why I'm
going to create the best product or service in my selling area." Yes!
But that's not enough.
Have you thought about taking this adage a bit further? Think about it,
whether your first contact is in person, print or on the air, making an
impact on your customer is imperative. A positive first impression begins
with your business identity. Just think how much easier it would be if potential
clients (consumers) in your trading area could register your name in their
minds first while searching for the type of products or services you
offer.
Here comes the $64,000 question. How do you do that? It is simple but
can be costly if you don't include it in your budget. Large corporations
will go to great lengths to develop a brand identity for their different
products. Most small businesses do not a have the resources to do this
with their product line. Your next best approach is to develop your
business name as your brand identity.
Choosing your company name will be the most important marketing
decision you will ever make. In choosing your business name, ask yourself
if your proposed name is easy to remember, and your products or
service is easily associated to your company name? Your choice of
business name will appeal to different types of people, so make sure it
attracts the people you want.
The more your business name conveys the benefits of your products and
or service, more likely you'll stand head and shoulder above your
competition. But this can also have a negative impact on your customers if
your product line or service is broad and appeals to different types of
customers. If this is the case then you'll want to be careful not to
include the description of your products or services in your name. An alternative
would be to make up a name that has meaning to your client base and what
your business reflect. You might want to piece words together.
In conclusion the name you choose must:
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