business name

4 Ways Your Business Name Impacts Your Bottom Line

Your business name is more than just a buzzy moniker. While a great business model is certainly a key component to success, awesome names like PayPal, Twitter, SalesForce, Uber and Apple surely had something to do with these amazing companies’ rise to success.

You too can harness a great name to start your business off on the right foot in order to grow more efficiently. If you’re not yet convinced about the power of a name, perhaps you will be persuaded by these concrete insights:

Connect with a customer

The sound of your brand might strike a customer when they first see it, and if they can form a connection as well, you’re set.

Whether you intend to convey a meaningful idea, hint at a user experience, foster curiosity, or convey a lifestyle, your name can form an instant connection. When a name connects, it drives consumers to conduct further research; this could mean scrolling through a smartphone to visit an e-commerce store or adding you to a list of companies to consider for a multi-million dollar project.

Related: 3 Business Name Disasters and How You Can Avoid Them

Remain top of mind

When your company name is quick, catchy and easy to remember, you’ll stay at the top of your customer’s minds when they need to make a purchase. Even if they’ve already followed you on social media or visited your website before, if they forget your name, they’ll head somewhere else.

Developing a name for your startup that’s evocative and can be quickly recalled is the best way to turn one-time visitors into loyal customers.You won’t need to constantly remind them you exist, because your buzz-worthy name will stick with them.

Encourage referrals

Word of mouth is one of the oldest and most valuable marketing tools out there. A great name will help bring your business into conversations of the audience you want to reach. When your business name is memorable and exciting, people want to tell friends, family and potential investors about it. As a new customer recounts his or her experience with your brand with a friend, they need to be able to quickly recall your name. Without spending a dime on marketing, your startup can increase traffic and sales, all through a catchy name.

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Brings in better talent

A startup is only as strong as its employees. A powerful business name will not only attract customers, but top talent, as well. There’s plenty of competition for skilled, creative workers, and when your business name stands out, potential candidates are more likely to be interested. Your name can speak to your company culture and attract candidates that fit your brand’s lifestyle.

A business name is a powerful tool. Determining the right name that connects your customers to your brand will drive sales, reach a larger audience and help you grow more rapidly. With the right tools, you can craft a name with confidence that speaks to your audience.

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