“You will never get a second chance to make a first impression,” is one of my favorite quotes. It is imperative that you keep this in mind when choosing your company name.You can have the best product in the world and it will all be in vain if people cannot remember your company name. The name of your company sets the tone for your brand. In order to make sure your brand gets the attention it deserves, make sure you follow these five steps when you select your company name:Tell a story: Whole Foods. Fruitful Yield. Trader Joe’s. What images come to mind when you hear the aforementioned company names? You are probably thinking about fresh fruit, vegetables, and organic food products. If you want to become part of your target market’s evoked set, you need to make sure that the name you choose is associated with the images you are attempting to project. These images should reflect your company’s personality and spark a conversation.I get compliments and questions regarding my company name and I am often asked to explain the meaning behind the name. My company name is a combination of the word ‘target’ and ’stars’. In marketing, the individuals or businesses one hopes to gain as a client is referred to as your target market (hence, the ‘Target’ part of our name). The second half of our name stems from my childhood. Ever since I was a child, I have always loved looking at the stars. In fact, one of my favorite quotes is to “reach for the stars.” It is every entrepreneur’s dream to capture as many clients as they can, so we refer to our clients as stars. However, I am aware that not everyone can be our customer; therefore, I have to concentrate on capturing the right stars. I usually get the nod of approval and the conversation usually leads to the person wanting to learn more about the services I have to offer.If you want people to talk about your product or service, then make sure that your name will pique their curiosity and encourage them to interact with you to find out more about your company.Minimize the guesswork: Try to include the type of product or service you provide within your company name. Obviously there are companies that do not adhere to this rule and use the owner’s name or create a brand new word like Nike, Zappos and Etsy. There is nothing wrong with doing this, but you may find it to be easier to play it “safe” by referencing the service or product in your company name in order to cut down on the confusion (i.e. MarketingDivas). However, be careful not to be too specific when choosing your name because this will cause problems if you choose to expand your products or services.Is it KISS (aka Keep It Simple Stupid) proof? : Gaining your target market’s attention can be difficult, so do not add to the problem by choosing a name people cannot pronounce. When you encounter a word you do not know how to say, how does this make you feel? Most people would answer embarrassed. Is this how you want your potential customers to feel? My guess would be no, so do not allow them to be put into this situation.Get it approved: You will be able to confirm how well you followed the first three steps based upon the reaction you receive from your family and friends. You will without a doubt come up with some names that may sound great to you, but leave your family and friends with confused looks on their faces. Their honesty will save you from choosing a name that does not capture the essence of your company.Search and Secure : Once you have finally decided on a company name, you will need to make sure it is available. Start your search by checking out the following places:Secretary of State—Check here if you plan to incorporateCounty Clerk—Check here to see DBA (doing business as) namesYour website hosting company—Check here to see if someone is using the name for their URL.NameChk and UsernameCheck—These two sites enable you to see if the company name you seek to register is being used across social networking websites.If the name you have chosen is available, you should secure your name by filing a trademark or servicemark with the United States Patent and Trademark Office (USPTO). Local businesses may not feel it is necessary to file with the USPTO. However, you can still get some protection for your company name by filing your trademark or servicemark with your state (i.e. Illinois charges $10.00).Choosing your company name can be overwhelming, but you want to make sure you get it right the first time so you can save yourself the hassle of rebranding later. You never get a second chance to make a first impression and following these tips will enable you to step out in style.
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