The first impression of any startup or a business is the name we chose for it. In other words the identity of any business plays a very important role in achieving success in the relevant market but usually we do not think much before deciding the name of our venture and we believe that the more we work harder the more we become successful, which is true to some extent but success is not a result of sheer hard work in fact it is a result of multiple factors involved and deciding the name of your project comes on the first place of the list.
In my 10 years of experience in branding and marketing I have realized that every entrepreneur begins with a dream, an idea which makes his nights sleepless and the faith which gives the inspiration that no one can do this better than me and that’s when a start up is born and because it’s your idea, your child, you have all the rights to give it a qualified name so you refer your competitors, your friends, family and these days mostly you hit the internet for searching a name and you end up choosing a name which you loved the most and once you chose the name you start incepting that name in your dreams or ideas of doing that business but what you do not know is that the name of any entity gives an identity to a particular company only to be recognized and pronounced by others more than your own self.
So, how to choose a perfect name for your startup or venture?
There are many key factors to keep in mind before selecting a name out of which I have shortlisted the 5 most important factors in the next paragraph which if followed without a doubt can give impressive results in achieving what you aimed for your very own dream project. Even if you already have decided a name for your venture and afraid to change it, do not worry because I will tell you the best and easiest 5 ways to do the corrections in your existing name which will give you the same results with the help of little changes as a bonus content (click the link below for further details)
Below are 5 most important things to consider before giving a name to your startup.
1. The shorter the name the higher are its chances of success.
A short name is easy to pronounce and easy to remember. There are many benefits of a short name like it’s easy to create a logo for a short name, your name can be your logo which also gives a better sense of recognition for your audience, it takes less space in advertisements and give more space for your important message / content to display, it will be easier to do branding with a smaller name rather than a large name and so on.
2. The name should refer to your target audience or your product & services.
The target audience is the group of people who will get benefit from your initiative or startup. First, know your target audience and shortlist few details about them like their age group, their income class, their nationality, their language, their problems related to your product and their response to previous or existing brands. Once you get this information you will get an idea of your target audience and how can you relate your brand to your audience only after this research you search a name for your company or simply search a name related to your product or services keeping the 1st point in mind.
3. The name should be easily pronounceable and easy to understand.
Sometimes we select a name related to our product & services or our audience but the words we chose are technical and hard to pronounce, that may sound cooler and more intelligent but that’s not true. Difficult or technical names are disliked by 90% of people because if they must make efforts for even pronouncing your name correct then they will most likely use those efforts to go with a more familiar and pronounceable brand because no one would want themselves sound embracing pronouncing a brand name incorrect in any store.
4. The name should contain more than one or repeated vowels
Vowels are very important part of any name. vowels give your name a phonic sound which makes an impression on the memory system. I have realized that most of the top brands have been using more or repeated vowels in their names so they sound catchy and makes a rhythm to the word and makes them more attractive and catchy.
5. Do not exceed more than two words in your name.
The ideal capacity of words in any name should not exceed more than 2 words and even if for any reason you have to exceed then make the identity of your company by initials of the words contained because as I stated in the first point the name should be as short as possible.