Before you think about a logo you need to have the right name for your company and product. For some of us it is easy for others this may seem daunting. So where do you start? The most common naming option is using a family name. Can you name 5 companies off the top of your head that are named this way.Procter & Gamble, McCormick Spice, Hunts I could go on and on.
Using your own name in your business name and brand message has its benefits.
• It is like a personal promise - you put your name on everything you offer
• It is not specific to an industry
• It starts to create the personality of your business/product
• Leverage existing market awareness if you have reputation
When I was considering my company name I found that many ad agencies as well as lawyers and accountants preferred to use their names as a business name. Personally, I hesitated going in this direction because it lacked creativity. I didnt have recognition in the market, so my name would not provide an advantage. Using a descriptive name that identifies your industry that customers can identify with and have immediate recognition of your product or service is the second option for choosing a name.A descriptive or unique name provides these benefits:
• It can identify your industry focus to build trust that you are an expert• It presents a unique personality
• It can provide a benefit promise
• It's a foundation for brand development
Each naming option has benefits you want. Dont discount either until you explore both. Dont rush the process either. Take time to review the market you are entering, the competitors, brand saturation, and your USP in conjunction with your business goals or you may waste time and money. The right choice will giv you the advantage you need to more quickly build brand awareness with your audience.Want some help?