Businesses, small or big, depend heavily on perceived value and trust with customers. This includes having an enduring name with the appropriate logo, URL and a personalized email address.
Build Trust with A Great Business Name
Never underestimate the power of a great business name; a name has to carry many responsibilities. It is the first thing that hits your customers and also comes out of your mouth each time you speak about your company.
A great business name should sum up your business beautifully. It has to impress in the right way and get its identity across. Also a company’s value, branding and advertising revolves around its name.
Think of it as the first handshake. A good handshake is firm and confident while a dull or limp one doesn’t convey enthusiasm and diligence.
For example, Lego. The word was said to be a combination of “leg godt”, which meant “play well” in Danish. Incidentally, Lego also meant “I put together” in Latin.
Some names were conceived from light bulb moments while others had anecdotal stories behind them. On Thanksgiving Day in 1904, the Holt Tractor Co was having pictures taken of its earth-moving steam tractor.
The photographer commented that it “crawled like a caterpillar”. Founder Benjamin Holt overheard and by 1910, he started Caterpillar, a construction equipment manufacturing company.
For those who don’t have “caterpillar” stories around them, adhere to a few points, according to Wharton Business School. Generally, it should be easy to remember, easily pronounceable, unambiguously spell-able, evocative of the thing it names, laden with positive associations and legally available for use.
Say you have a small list of names; let them sit for about a week. Great business names have a certain “stickiness”.
“While the right name can make your business popular within a short time, the wrong one can doom your prospects,” wrote Richard White for Small Business Trends.
Uber and Tinder make use of the meanings in those words that tied neatly to their services. The Oxford Dictionary says Uber means “denoting an outstanding or supreme example of a particular kind of person or thing”. It is the kind of experience that Uber hopes to provide its customers. Meanwhile Tinder plays on a fire theme, hoping that romance can spark via the online dating app.
In some rare occasions, you can hit jackpot with random letters, but the only caveat is it must be short. IKEA is one such example. It combines the first letters of founder’s name and the village he grew up in – Ingvar Kamprad and Elmtaryd Agunnaryd.
Another interesting example is a Belgian chocolate company famous for its pralines since 1923 but unfortunately in recent times, Isis is connected to terrorists. The chocolatier had no choice but to discard its and identity, and used the family name, Libeert.
Name change can sometimes be a decision to future-proof your company and allow for product diversity. Take for example Larry Page and Sergey Brin ditched naming ‘Google’, ‘BackRub’. Even ‘Apple Computers’ was just ‘Apple’ after 2007.
Build Credibility with Company Email
Now, assuming you have booked a dot-com for your company with a great business name to boot. It’s time to consider having your own company email. Having a firstname.lastname@example.org raises issues about credibility, stability, value, branding and professionalism.
Personalized email addresses (email@example.com) help build your company’s identity and give it a touch of seriousness. A free email looks unprofessional and doesn’t inspire confidence that you will actually reply to queries. Besides, if you can’t be bothered with a simple company email, why should your customers be bothered with your emails?
Imagine you drop an email using a generic email domain to a potential client; the receiver has reason to question if you do belong to the company at all or not – simply because anyone could create an email account, but not everyone can create an email account with a specific business domain. In a Verisign survey, 65% of consumers found businesses using company-branded email more credible than those using generic email domains.
In addition, a research on young businesses shows that “60% of these businesses reported an increase in customer engagement and 42% reported an increase in sales” just by switching their emails to a business domain.
One-stop shop services such as Microsoft Office 365 provides business-class email addresses without breaking the bank. Emails are stored in the cloud, making it accessible from anywhere. Creating impactful emails are also possible as you can customize format and add in images. Subscriptions start from RM22.30 for each user a month.
If it’s good enough for Facebook, it’s certainly good enough for you.
Also, paid email addresses won’t end up in your customers’ spam folders, vice versa, as it has a blacklist to ensure you don’t miss out important emails and spare your inbox from clutter. Would you be in a rush to open an email from firstname.lastname@example.org or email@example.com?
Lastly, as your company expands, it is easier to set up email addresses for new employees instead of getting them to sign up for a free service. Free services don’t inspire confidence among the newbies.
Now, get cracking on the names and mark your company’s path to business superstardom.
Also Read: How To Register Your Business In Malaysia
Come across any great business names or logos? Share them in the comments below.