5 Common Challenges Entrepreneurs Face When Creating a Brand Name
Naming your brand is a major step for any entrepreneur and comes with a unique set of challenges
By | Tatiana Dumitru | www.entrepreneur.com
The name you choose says a lot about your brand. It can tell potential customers who you are. It should be simple, yet intriguing. And your name needs to allow continuous growth, expansion and evolution.
Because words have meaning and names have power, your name should be memorable and impactful. It should draw people in and make them want to learn more about your brand. It should tell a story that creates an instant emotional response in people – so make sure it’s a positive one.
A great name is a blend of strategy, linguistic analysis, research and creativity all mixed together to deliver a clear message of who you are and why you’re different.
But once you’ve made a list of possible names that you’re happy about, your work isn’t done yet. Before spending time and money marketing your new name, address these 5 elements before settling on the right name for your brand.
1. Check for domain availability
So, you’ve made a list of names that sound good and look great but when you’re searching to see if the URL is available, you realize it’s already taken. It could already be in use by a different company, or someone else could simply own it – people buy domains all the time, especially ones with short names, just so they can resell them.
When you’re looking for a domain, you should try to find one with a .com instead of a lesser-known extension. A dotcom is more trustworthy, especially for people who aren’t particularly tech-savvy. It will also make your domain sound more authoritative since people assume dotcom domains are more serious and legitimate.
But you have to understand that you can’t get a domain that’s a real word or even two blended words – most of these are for sale and they can cost millions of dollars. One alternative is to add another word to the domain name to see if it’s available. For example, Tesla used the domain teslamotors.com for many years until it was eventually able to get tesla.com
Also, don’t choose your brand name based on domain availability — you shouldn’t choose or change your brand name just because a domain is free.
