The constant interconnectivity of today’s digital world has a significant impact on the way business is done. Everything from marketing to socially conscious practices has changed. You need strategies that will get you in front of and ultimately help you attract your target market. Therefore, your first business strategy is to create the right business name.
Be Creative, but Not Too Creative
Creative, catchy names can be hit and miss. You need your customers to recognize your business even with a catchy name. Therefore, if you choose a more creative name, especially one that is a made-up word or doesn’t describe your products, you will need to focus and may need to spend more on marketing. For example, Amazon doesn’t necessarily suggest book sales, which was the company’s original focus, and Google was not a word.
Whether you choose to use a made-up word, a name that doesn’t describe your company or products, something creative, or a name that exactly describes what you do, be prepared for the marketing requirements necessary to reach your prospective customers.
Consider Your URL
Most customers research products online before making a purchase. Therefore, if you don’t have a website and content that describes you and your products on the internet, you are likely to miss out on a lot of sales revenue. However, if your URL is complicated or hard to remember, you may be in the same boat. Therefore, consider your URL, its length, and how easy it is to remember, as you choose your business names. A shorter domain name, one that is seven or fewer characters, has been shown to receive more traffic than longer URLs.
Think of Mobility
Today’s digitally connected world is full of different devices. For example, people use their phones for research and purchases. Long names or those that have unique spelling can be difficult to see on small screens. You can improve this slightly by the design of your website and the fonts you use. Your business strategy should help your consumers learn about you as they briefly view your information on their screens.
Consider Digital Assistants
Digital assistants, such as Apple’s Siri and Amazon’s Alexa, are becoming more popular every day. A person can ask these assistants just about anything and receive an instant answer. However, the accuracy of their answers depends significantly on pronunciation and their ability to recognize terms. If your name has unique spelling or is difficult to pronounce, your market may not be able to learn about you from its digital assistant.
Providing high-quality products and services is vital to your business success, but your company name can significantly impact your ability to attract your customers initially.