Choosing a great business name doesn’t guarantee commercial success. But settling on a bad name can nudge success out of reach.
So you’re thinking of starting a business?
You’ve probably got a great idea, an exciting product or a service you’re going to provide – the foundations of any good business.
But what are you going to call it?
Like many start-up businesses, you may consider mixing your name with your partner’s name and come up with something like Jotom or Bevmax. Although that may mean something to you (and your partner), it says very little to your customers. Your business name should communicate what you ‘do’ or ‘how’ you do it.
The name should be a short as possible – long business names do not perform as well as shorter names because they are harder for potential customers to remember or even spell when searching for you on the internet. Imagine Qantas today if they were still marketed under their full name of Queensland and Northern Territories Airways System.
Avoid generic names like Green Printers or Cars Online as these will be harder to register as a business name and a domain name.
Start with a list of ten or twenty ideas and show them to your friends, family and business associates to comment and select their favourites. By doing this you get instant ‘market research’ from a mixed-age audience, which represents your future customer base.
Ask yourself: “Does the name create a ‘positive’ feeling for my business?”
Next, check the business name availability through ASIC’s free company name search at www.asic.gov.au, then, if the domain name is available at one of the many domain registrars. Every business today needs a web presence and your domain name is your ‘online’ street address, so it is important that you register a domain name as well as your business name.
Now that you have your new business name there is one more thing to add: your positioning statement. It’s this one-liner that will set your business apart from its competitors. FedEx’s “Absolutely, positively overnight”. Hungry Jack’s “The burgers are better”. Toyota’s “Oh what a feeling”. Qantas’s “The spirit of Australia”. Bose’s “Better sound through research” and Saab’s “Move your mind”.
Your positioning statement should offer a benefit and give the customer a reason to buy from you and not your competitor.
Armed with your new business name and a dynamic positioning statement, all you need now is the logo – but that’s another story …
Tony Eades is the creative director for DesignShop, Australia’s fastest growing online design and print solution provider. He is a business marketing expert, with more than 20 years experience in design, advertising and client media campaigns.
Photo: charles chan(flickr)
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View Comments
Paul Groth
May 28th, 2009 at 2:50 pm
Hi Tony, good advice there, I would like to add some more about business names and thier relationship to domain names and keywords.
Google and some other search engines rank websites higher for keywords within the domain name for example, if you have a glass repair/replacement business called “Pane in the Glass” (just thought of that:), your domain name would be http://www.paneintheglass.com. Now, as people do a search “glass repairs sydney”, your site has more chance of a higher rank due to the word “glass” being in the domain name.
That is only one of the many many things google checks when ranking your website but I believe it is quite a strong influence on your search positioning.
Another thing that will get you better results is to have a minimum of 8 occurrences in the body of your pages of each of the keywords ‘glass’, ‘window repairs’, ‘window replacements’, ’sydney (if that’s where your business is of course)’ etc. Really, it’s whatever you think your target customer is going to put in the search box to get what they’re looking for.
In that case, while you’re asking those friends, family and business associates about your business name, ask them what they would type in to search for the product or service you provide. Wording it properley so they understand they’re not searching for you, they’re searching for the solution to their problem.
I feel like I’m taking over your article now so I’ll leave it there.
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Kay Lam-Beattie
May 28th, 2009 at 4:24 pm
…And you know that some pesky lawyer will also jump in and say “Don’t forget to check for trade marks!”
You should make sure you’re not stepping on anyone else’s toes before investing time and money promoting a brand.
Also, only a registered trade mark will give you monopoly rights to use that name in Australia for the goods and services you’ve listed in your registration.
Both your brand name and your positioning statement might be registrable.
Check http://www.ipaustralia.gov.au – very user friendly, lots of information.
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Anthony Norris
May 28th, 2009 at 4:47 pm
Kay is absolutely correct.
There is a legal hierarchy when it comes to names and trade marks are at the top. Company names, business names and domain names all have a role but if your name infringes someone’s registered trade mark (for similar goods and services) then it is very likely you will be asked to come up with a different name very quickly. There is also the time and $ cost of having to start again with a new name.
Whilst it is not compulsory to register your name as a trade mark, a check prior to starting (via the IP Australia Trade Marks database) is very sound advice.
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creative|legal
May 28th, 2009 at 5:53 pm
also agreed!
a common misconception is that registering a business name is ALL you need to do to ‘protect and secure’ your chosen name – NOT TRUE! A business name gives you only the ‘legal right’ to conduct business and trade under that name, but it won’t stop someone else using the same name on products or services, online or in marketing. You’ll need either a trademark or an “established reputation” – so once you’ve checked and then chosen a name, protecting it is the next step.
everyone had enough of the pesky lawyers yet!? Only trying to help!
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Mabuzi
May 28th, 2009 at 6:50 pm
Great article.
We went to both Bondi Junction and Central Station with a list of names on a clipboard and spent 2 weeks getting feedback for our company name. (You will feel sorry for anybody with a clipboard after this). We got great feedback and used the variations to come up with Mabuzi.
Please do check on-line if there are any other companies with the same name or very important the name having another meaning in another language!!
Go to a brand specailist or a graphic designer for the logo. It is worth it in the long run.
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Paul Ryan Reply:
May 28th, 2009 at 8:34 pm
Classic.
Back in the early days of Anthill someone came to us with a proposal to launch a Chinese version of Anthill in Shanghai. Something along the lines of “Chinese Anthill”. It didn’t really go anywhere, for a bag full of reasons, but someone also suggested to us at the time that, in certain Chinese dialects, the word “anthill” resembles a rather sharp insult. We never figured out whether this was true, but it’s something that certainly never occurred to us. Would have made for an interesting Chinese launch edition.
Good advice.
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Jane Toohey
May 28th, 2009 at 9:03 pm
Yes, a name that stays in the mind of the target audience is so important, but if you want to go with some other name (based on history, partnerships etc), again the positioning that clearly articulates who you are and your promise to the market will cement your brand presence. But there is a difference between a tagline and a positioning statment and a tagline needs a hell of a lot of marketing dollars behind it to ensure it ‘becomes the brand’. I applaude creative people who actually think about the strategy behind their designs Tony, as the best creative comes from thinking about how the target market think
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Tony Eades Reply:
June 2nd, 2009 at 11:43 pm
You know I am currently working with two established companies who have recently merged and I have to create for them a new common brand that not only works for both businesses but also they both like (considering as you can imagine they are both very attached to their current brands). I had dinner with the two owners the other evening to get the ball rolling and the first thing I did was to explore a common thread between the two businesses. From this we were able to brainstorm some potential names (90% of which by the way were unavailable when I did the relevant searches the next morning) and we now have creative direction to develop the brand. It is so important to involve everyone in the creative process and above all have true ‘reasoning’ to back what you come up with.
A business name/brand is so much more than just a word or two – it will eventually become the true identity for everything your business stands for.
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Gene Stark
May 29th, 2009 at 1:25 am
Good article on a subject that is growing in importance and the degree of difficulty associated with coming up with a name that:
-Achieves separation from your competitors
-Demonstrates to the world that you are different
-Reinforces a unique positioning platform
-Creates positive and lasting engagement with your audience
-Is unforgettable
-Propels itself through the world on its own, becoming a no-cost, self-sustaining PR vehicle
-Provides a deep well of marketing and advertising images
My view is slightly different to Jane’s. I see the “Positioning Statement” (that others call a tagline or slogan) as the creative interpretation of the USP or Positioning and it should be the first thing that comes into the mind of your prospect after your brand name. It doesn’t need any more dollars to ensure it becomes “the brand” than the dollars required to make the name itself a “brand”.
The good news for Anthillians is that this segment of the business community takes brand strategy seriously! Recently in a LinkedIn discussion group of “marketing professionals” a member of the group posted a request for help in coming up with a new business name, and provided a very short and incomplete brief. What was amazing is that out of about 50 answers by “marketing professionals” only 4, less than 10%, pointed out the importance of following a PROCESS (of course everyone has their own!).
Most contributors were too excited about playing “creative” and hence ignored the process for the sake of fun and being “clever”, and these same contributors that insisted on “jumping straight into creative” and providing a name, did not even check if the website domain is available, and in most cases they were not!
The single most important element is “CAMPAIGNABILITY”, especially when you don’t have the multi-million dollar budget to make your name synonymous with what ever it is you are selling!
How easy it is to promote your new brand name should be your most important question!
Here are a couple of examples we have developed for our clients that are very easy to come up with a “campaignable” theme for:
Business Name – Positioning Statement (Type of Business)
Sirius Business – Make Your Business a Star (Business Coaching)
Fighting Fit For Life (Personal Trainer, Boxing Specialist)
D&M – All About You (Personalized Natural Skin Care)
Rebrand (Previously used ECD Winery Tours) (Proprietor name – Les Schoffer)
Schoffered Tours – At Your Service (Niche Wine Tour Operator)
How the hell can anyone on a small budget make ECD Winery tours exciting and memorable? Whereas “any creative” can come up with easy to communicate and visually “stimulating” examples by playing on the Chauffeur / Butler theme:
- Limousines
- Top Hats and Canes
- White Gloves and Silver Trays
All of these reinforce both the name and the positioning which focuses on personalized service! Also everything is seen in context – being enveloped by logo’s, visuals and copy…
Here’s one process that you can follow for best results:
1. Competitive Analysis
2. Positioning
The more focused your positioning is, the more effective the name will be. All great product and company names work in concert with the positioning of the businesses they speak for.
3. Name/Brand Development
Use positioning strategy to figure out what you want your new name to do for your communication efforts.
4. Domain Name and then Trade Mark Availability Check- this is very hard today with many 2 or 3 word English combination domain names that sound good are “parked”. There are tricks to get around this on line but not if the names have been registered as Trade Marks (or have been used for a while in the market without a Registration – so YES use an IP Lawyer!)
5. Creative/Testing
Produce creative materials to test leading name candidates. There are a number of categories (all subjective but at least measurable!) that I would use to “evaluate a name” during this Creative Testing phase:
Appearance
Distinctiveness
Depth
Energy
Humanity
Positioning
Sound
Trade Mark
6. Name and Positioning Statement are the outcomes after which you can proceed to give all of the above to a design specialist.
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Gene Stark Reply:
June 2nd, 2009 at 3:09 pm
Hi Maureen, the answer is YES – it is what I do!
Please contact me on the phone number below and we can have a chat on how I can best assist you.
T: 03 9578 8931
M: 0411 989 309
Interestingly enough I have recently looked at the whole “traditional carpet cleaning market” and many of my clients are in the “industrial” and business-2-business sphere.
Have a great day and I look forward to speaking with you or alternatively please email me your contact details and I can contact you.
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Tony Eades Reply:
June 2nd, 2009 at 11:29 pm
Hi Maureen,
Just to add some comments to Gene’s reply and great tips following on from my ‘choosing a winning business name’ article …
Your product sounds great but my advice would be to be aware of not ‘over complicating’ it when it comes to branding. Strive for a one or two word brand name and then use the USP or positioning statement to expand it further.
As you may know though – the name is only the first step! Besides making sure the new brand is available as a business name and domain etc you will need to look at the logo, colours, typeface and style guide then develop the marketing theme, collateral and strategy. Interestingly enough I developed branding for a Carpet Dry Cleaning company way back in the early nineties and they are still using the same press add today.
Happy to offer some additional advice if you need it in relation to all of the above – if so please drop me an email -tony@designshop.com.au
You may also be interested in reading this article I wrote on ‘business makeovers’ that may help too –
http://www.thebrandmanager.com.au/BlogRetrieve.aspx?BlogID=1540&PostID=39807
Best of luck with your exciting new product – don’t know of anyone that wouldn’t want to ‘cut cleaning times by up to 90%’.
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Jane Toohey
May 29th, 2009 at 7:49 am
Interested in opinions on
Minimovers “slashing the cost of local moving”…
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Tony Eades Reply:
June 2nd, 2009 at 11:50 pm
I think you need to try to establish a USP/Positioning Statement that is measurable … take Federal Express: Absolutely Positively Overnight – now that’s measurable.
Some ideas …
Minimovers – Big on delivery, small on cost.
Minimovers – Half the cost of the big boys
Minimovers – Move for less
Best of luck!
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Cassandra
June 9th, 2009 at 11:28 am
The new business owner should also, most importantly, search the trade mark database for their chosen brand, and file the application ASAP. If they don’t do so before purchasing their domains and bus/co registrations, graphic design, websites, etc, they could be infringing an exact or similar trade mark, and end up losing a lot of money.
Registered trade marks are federally granted rights to use, own and enforce the brand, so if you do not search the Australian (and other key overseas markets) trade mark database(s) before you use the brand, you may find in a couple of years (or months) to come that you are being sued for trade mark infringement. Meaning, pay up on your profits to the registered owner of the trade mark.
Business and company name registrars do not communicate with the trade mark office unfortunately.
A good brand is one that is not generic or descriptive of the goods/services, and can be registered as a trade mark.
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