Small business growth continues to escalate in the U.S., with figures from the U.S. Small Business Administration indicating a total of 32.5 million by 2021. But unfortunately, some businesses struggle to make it past the first two years.
However, the proper branding of a new business can make the difference from going entirely unnoticed to attracting customers. Creating a powerful brand can seem challenging, but a creative business name can help you grow your new enterprise.
Reasons Why Your Business Name Can Help Your Business Grow
When thinking of unique business names, several come to mind, including Amazon (formerly called the unimpressive Cadabra), Apple, and Nike. Read on to find the top 5 reasons a business name can help your business grow.
1. Gets Your Business Attention
Making your business memorable to your customers requires a solid brand name that is easy to remember, catchy, and unforgettable. By creating an excellent first impression, your business name can help ensure your startup’s survival, something fundamental when considering the ever-growing competition in the market.
Communicate your business’s uniqueness, product, and personality through your brand name. A good business name remains the significant first step to gaining your audience’s attention.
Make sure that the name does not confuse your customers with other businesses and supports the future growth of your startup. Additionally, don’t include geographic regions if planning to expand, and don’t use a name that gives the impression of a government entity.
2. Makes A Connection With Clients
Ensure to connect with your clients by giving your business a well-thought-out name that appears professional. Keep your target customers in mind and communicate with them on an emotional level through your chosen brand name. Think of famous brands that convey their offerings through their brand name. One good example is Twitter and its clients who need information. Therefore, you must appeal to their emotions by rooting your brand values in your business name to ensure they keep coming back for your products or services. Other excellent examples include Google, Tesla, and Amazon.
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3. Boost Sales and Performance
Research indicates that businesses with good names perform better on the stock exchange than those with unimpressive names by close to 33%. This research proves that investors choose where to put their money wisely, which also applies to your customers. Therefore, a good business name can boost sales and growth and increases referrals. Additionally, data shows that 90% of Americans share their brand experiences, and 60% prefer to make purchases from their preferred brands, making correct branding vital for customer experience.
4. Great For Marketing
The better your business branding, the less time and money you need to spend on marketing. That is where a mighty brand name can help your business publicity, particularly on social media. You win when you can align your brand mission with your business name. One example of this is Tesla; the company reportedly does not spend any money on marketing globally because its clients understand its alignment with sustainable energy.
5. Attracts Talent
Finally, a good brand name can also help you attract the right talent to your startup. Again, the concept remains similar to attracting customers; making your goals and values obvious means that employees will proudly want to join a company with a solid brand.
Last Word
Now that you know why a business name can help your business grow, your following question is how to find the right business name?
There are several ways to do this, but TRUiC’s business name generator can help you get the best results. This tool allows you to choose from hundreds of appropriate names and available domains. Once you choose or modify the name you like best for your brand, you only need to ensure the name is available online and in your state before registering it. Additionally, protect your business name with a trademark to make it exclusively yours.
Finally, take some time to consider if you want to use just your startup’s legal name or also want to register a DBA separately.
Now that you have registered your brand, you are ready to take all the other measures required to help your business grow.
