The business identity of your business is the name of your business that describes its sphere of operations in today’s globalized environment where companies have so much technological advancement and continually revives their marketing strategies, well-defined business strategy and a domain name is a must for the business to have this global reach. An appropriate, relatable and appealing name allows business a competitive edge over the competitors. Also, a bad business name should not be the reason for your business failure. As your business is your identity, you have to make sure that you avoid these below mentioned mistakes while giving your business a name.
- Not registering your domain name: It is an important point that should be on the top of your not-to-do list as this can potentially create a lot of harm. Worse will be the situation where people lay claims to the name you have crafted for your business. Registering a domain is very simple, easy and inexpensive tasks and will help you a lot in making your business grow.
- Not paying attention to branding: Naming your business can be an effective branding strategy for your business. Thus to achieve this your business name depends upon the image and the perception it receives from the potential customers. The branding strategy should be well defined throughout at least 12 Months to establish a stronghold among the targeted audiences.
- Generic Name: A business should also have an aesthetic sense and appeal. An ideal business name should be creative in every aspect hence should represent your business function and easy to read, write and memorize. It should convey the essential brand values and focus on customer benefits.
- Over descriptive or too creative name: We agree for the creativity but it should not derails the purpose of the meaningful business name as a business is all about evolution and needs to focus or expands to include the product and the services and will become irrelevant of describing it more around it. While choosing and registering a business name consumes time and money and should avoid committing mistakes.
- Testing the business name of social media platforms: Social media platforms do not allow businesses to create and their handle with long names. Thus many digital reaches are restricted and impact the companies. Even if a short handle is created, it might not easily be relatable, resonate and connect with the name of your brand. Your business name should also align with the handles you create yourself, and other platforms should also adapt it accordingly.
