Literally Creating a Name for Yourself
Recently I met with a client to discuss marketing techniques and how to start promoting his new brick-and-mortar business. We started with his street front signage and of course the question came up of the name of the store. He responded, “Smith Industries.” I was confused. I asked if this was just the name of the parent company and he said no, this is the name of the business. He always wanted to see his family name up on a sign so that would be the name of the store. I tried very hard to convince him otherwise. I even gave him 3 free names for his business to give him something to work on. Unfortunately, he turned them down. After 3 months in business he was forced to close his doors. Why? He had a great location, he knew his market well, and he had a great product to sell. What he was missing was a good brand.
Mr. Smith isn’t alone. I have talked to many clients and seen many companies that refused to look beyond themselves for the optimal name for their business. What does this convey to the customer? A company named for its owner conveys a feeling of who really comes first, and it is not the customer. When establishing a brand name it is important that the name convey what your business is and also be as memorable as possible.
So, obviously the first thing to look at is: What does your business do? You business name should carry some meaning or connotation in the industry you take part in. If you were driving down the road and saw the neon Smith Industries sign, would you stop in to buy modeling products? You would if you knew Mr. Smith, but otherwise you would drive down to the local “Models and More”.
When choosing your business name, try to stay away from the generic. “Models and More” is catchy while staying true to its industry. “Best Models”, on the other hand, stays true to the industry, but the name is so bland it is easily forgotten. Try to go beyond the obvious yet within the realm of common knowledge. A golf store called “The Mashy Niblick” might do ok in an area with a lot of serious golfers, but “The Nine Iron Exchange” would probably do better in most cities.
How do you know when you have the “Perfect Name”? Unfortunately there are no magical tests that will let you know if you have done the job right the first time. Try the name out on friends and family. Come up with a logo that goes well with your desired name. And make sure that the name is not already in use. Done properly, your brand name will evoke an image of the business, stay true to the industry, and tie easily into the rest of your branding scheme.
