“What’s in a name…” said Shakespeare back in the day because he certainly didn’t have to worry about naming startups. But today, it goes without saying, a lot depends on your brand name. According to American market research consultancy Wakefield Research, 52 per cent of companies would change their name if they had a chance to.
Naming a startup is, more often than not, an ordeal of unending hours of frustration. Several crucial factors come into play while naming a startup. Here is a list of things to be kept in mind before attributing a name to your company.
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Think like your target audience
Preferences are often clouded by the subjective outlook we have towards matters. This menace should be avoided at all costs. Think like your target audience. In simpler terms, go with a name that has the potential to become popular at a mass level as opposed to something that only a small group of people can comprehend or relate to.
The name has to be at par with the brand
Your business is the brand and, more than anything, the name of the brand has to convey the feel of it. Naming a startup completely unrelated to the kind of services that is offered can be disastrous. Names create a subconscious brand image that is related not only to the brand but also to the product it sells.
Check for domain name availability
Hours of brainstorming will be wasted if domain names are not looked up. Although .com domains might not always be available, do not be disheartened. There are many subdomains like .net, .in, .ly which work just as good. Even India’s telecom giant Airtel does not have .com in their domain.
A short and easy to pronounce name
Short names that are easy to pronounce is the best way to go about naming a startup. Be it Google, Facebook or India’s own Flipkart, all these names have something in common: they are easy to remember. Studies show that it is easier for people to remember names that are monosyllabic and easy to pronounce.
Running a pilot research
Market research comes in very handy when it comes to the naming process. Conducting a field research with available resources at hand to check the reception of your brand name is a viable option. Not only does it give you an insight into what is preferred and what is not, it also gives you the option for correcting errors, if any.
As hard as it may sound, there is only one chance at launching a business and once that is done, there is no turning back. Being able to perfectly name your startup is very important since it is the name that carries your brand forward. Whether it’s the brainstorming stage or the pilot research stage, the objective is to choose a name that is memorable and evokes emotion.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)