Recent advances in technology have allowed for many businesses, online and brick-and-mortar, to expand and reach new customers. While that is a wonderful thing, it can also make it challenging for new businesses to stand out. The first step in making sure your business stands out is to choose a name that is catchy and explains what your business is about. When potential customers see the name of your business, they should say, “How clever! That sounds like a company I would be interested in!” But how are you supposed to accomplish this with your business name?
To make your company stand out and also relate to what you’re in the business of, you will need a clever compound company name. A compound company name merges two keywords that describe your business to form one catchy company name. You see these names every day without even realizing it. Facebook, Salesforce, Youtube, these compound company names are so catchy you don’t even think of them as two separate words. Simply, these names just work! This is exactly what you should want for your company name. By choosing a great compound company name you will give your business the great start it deserves.
The biggest struggle in this process is deciding how to come up with a business name. Specifically, a business name that works for you. You must consider what type of business you are in and which customer base you are trying to reach. A great first step is to think of short words that relate to your business. For example, if you are a photographer you would list words like photo, snap, pic, and click. These are all keywords that most people would relate to photography. Now, think of your desired customer base. Assume you are looking to photograph group portraits. Words like family, group, crowd, and clique relate to groups that may want their pictures taken. Lastly, you’ll piece these words together to find a great fit. Using this example, you may choose Snapcrowd, GroupPic, FriendPhotos, or CliqueClick as desirable names. Use this process as a guide of how to come up with a business name and it may surprise you how easily you may discover a catchy name.
It is important to take care in creating your business name, especially when coming up with a compound name. It is easy to go off on a tangent and start using words that either don't relate to your business or accidentally use words that have more than one meaning. Going back to the photographer example, one way to pick the wrong name is to get into terms that are too technical for the average person to understand. If you use words like aperture or bokeh, other photographers will understand the meaning, but your average customer will be confused by these technical terms.
Another issue to avoid is using words with double meaning. With photography, exposure, shoot, and negative are all relevant words but those words will mean different things to different people. The words you choose should be concrete and relate directly and only to your business. Using overly technical terms or words with double meaning will result in a confusing or meaningless compound company name.
There are many different ways to name your company. It is not necessary to use a compound company name. However, there are many positive aspects to using a compound company name when deciding how to come up with a business name.
- Explains your business immediately
- Makes your business easier to search and find
- Company name will be memorable
- Shows off your company's personality
Though a compound company name is a great option, there are a few negative aspects that could get in the way.
- Hard to think of name
- Meaning can be unclear
- Takes a great deal of thought and research
If you are interested in giving your company the best name possible, a compound company name may be the best choice for you. By understanding exactly what goes into creating a strong company name you are already one step closer to attracting and keeping new customers!