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How to find a cool name for a new business and avoid costly pitfalls?
How to find a catchy business name at low cost?
These are 10 most common branding mistakes you need to avoid:
1. Choosing a cheap new tld. Many start-up follow the increasingly popular trend of choosing a low cost domain to host their website. These alternative extension domains (so called new TLDs, like like .io, .co, .xyz, .sit, .online etc.) are much chaper at the moment of purchase, but incurr very high costs later, when most of your customers "leak" to the .com domain owner, bezause that is what most people remember when thinking of an Internet website. There is only one dot com domain with your brand, and an infnite numer of domains with alternative extensions._ That means that there is a large chance your clients will not remember your extension correcty, and end up at the dot com website of your competition. And the price of the dot com domain will rise with th success of oyur start-up, so if you plan to acquire it later, oyum need to set aside a lot more than if purchased outright, before your new brand name became popular.
2. Buying a newly registered domain. Some businesses choose for a cheap solution - a hand registered domain. These names are usually sub-standard quality and do not pass the "Top 10 rules of business naming" test as described above. Unfortunate, ambiguous and harsh mis-spellings, names that are hard to pronounce, difficult to advertise and market, or difficult to remember - those are most common among the newly registered domains.
3. Bland, dull or generic names. That brings us to memorability - make sure your chosen name does not blend in with dosens of similar brands already operating on the market. You risk again losing customers in favour of your direct competition, and your marketing efforts might as well be pointless if a customer can't remember the difference between your brand name and the brand of your competitors.
4. Trademark protected brands - conduct a legal analysis of your target brand in your prospective market - are there existing registered trademarks in your chosen country and in your planned area of commercial operation? You do not need to worry about trademarks registered in other areas of business activity, if these business niches are not protected and do not increase the risk of trademark infringement or misinforming the customers. name my business may still legally sell apples in most civilised countries of the world using the word 'Apple' in spite of the fact that it is trademarked in it's respective field of operation.
5. Bad foreign language meaning. Check the languages of your customers - be sure you check your new chosen business brand in all prospective languages your clients use. Avoid negative connotations and bad language. There are many examples of failed brandng due to insufficient care for foreign meanings.
6. Failed synergy or lack of coherence. If you plan to name your business "Fast Panda" or "Cure Cloud" you will encounter problems with inner synergy of your brand. If parts of your brand name work against each other because of the inherent vibe of the words you use, it will make a bad impression and decrease memorability. name my company are not associated with speed and one might expect a cloud to be rather poisonous than healthy, and that makes the brand lack synergy.
7. Visually difficult. There are brand names that might sound right, but when typed they are easy to cause spelling mistakes. These includes doubled and tripped vowels of some kind, like "ii" or "iji", a as well as some consonants like "yy" or "wv". That does not mean that doubling letters is a bad idea, but you just need to check how th name looks in lower letters and in capital font.
8. Failed radio test. If the name is very hard to spell after hearing it in difficult conditions, like a crowded bar or a noisy office, it will also make problem and require explenations in tlephone calls.
9. Many spelling options. If the brand name has many equaly valid spelling options, it makes it necessary to mention the correct spelling each time you bring up you name.
10. Narow meaning. If a barnd name is too descriptive, or uses words of narrow meaning, that are difficult to extrapolate to other business niches, it might limit your growth potential and require you to rebrand in the future. Rebranding is possible and sometimes in unavoidable, but it is best to choose a comapny ame that will allow for future expansion.
Read More: https://valetinowiki.racing/wiki/Top_10_Mistakes_To_Avoid_When_Naming_a_StartUp
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