The Insider's Guide to Brandable Business Names

brandable business name
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Guest post by James Jorner

Your business name is more than just an identifier. It is what your company and its entire branding would rely on. Getting your business name right from the beginning is a crucial aspect of building your business, be it online or offline.

Brandable domain names have always been a choice reserved for businesses with the finances to match. But with disruption in the brandable business name industry, where startups like BrandBucket are providing premium domain names for cheaper, the sentiment that only well-funded startups can use brandable names can be laid to rest.

In 2015 reputation changer, an ORM company purchased Brand.com for $500K. It was a dream brandable domain name. But must you spend that much on a domain name? Doing that might undermine the very essence of the lean startup philosophy, which the idea is to launch fast while wasting little time and money in the process.

Spending a fortune on a domain name is definitely not lean branding.

What is the importance of a brandable business name for a startup and how can you benefit from using such a name as a startup? 

See Also: 3 Reasons You Should Use a Brandable Domain Name

The Importance of Having a Brandable Domain Name

Building a startup using the Lean Startup principle enables you to ignite a business with efficiency and speed. This is where having a brandable business name with a domain name to match plays a vital role.

Developers want to have a company name they can incorporate into their products.

Customers checking out your startup want to be on a website that fits with your company's identity. And more importantly, your marketing will rely heavily on your business name.

When Margot Bushnaq, CEO and founder of BrandBucket, started her company, there wasn't so much competition in choosing the right brandable domain name to match your registered business name.

The only problem then was how to come up with the right name, a role she fits aptly.

The following are some of the importance of having a brandable business and domain name:

  • Consistent Branding: According to statistics, 60% of millennials say they expect a consistent branding experience when interacting with a business, whether online or physically. What this means is you're going to be affecting your brand if your domain name sounds or is spelled differently from your business name.
  • Marketing: It goes without saying, a brandable domain name would be one of your greatest assets when you begin to market your business online. From what is printed on mugs to your digital marketing campaign, your domain name should stand out and speak for your brand. Your customers shouldn't have to struggle with spelling or pronouncing your domain name.
  • Originality: When choosing a name, people often get confused on whether using a mixture of keywords would yield more benefits than choosing a brandable invented name. The truth is, keyword domain names, though comes with attractive benefits such as SEO and may be self-explanatory, it limits your business from expanding to offering more products or service in the future and may be easily copied by other businesses in the field, while an invented name would not.

    See Also: 7 Guaranteed Ways to Make People Love Your Business Brand

    How Brandable Business Names Can Improve Business Branding

    If you're leaning towards a brandable domain name, the question on your mind is how will it improve your overall branding?

    These types of names are effective in establishing your business as an authority in the market and can help distinguish your business from the competition. They are usually more memorable due to their linguistic characteristics and more likely to resonate in customer’s minds. Invented brandable names can also become a verb if branded well, for example, “Google it”.

    How to Use Brandable Business Names for Lean Startups

    According to the author of the Lean Startup and advisor to GE, Eric Ries "Test your ideas before you pour money into them. Create a Minimum Viable Product (MVP), then test and iterate it rapidly. Pivot if necessary.".

    If you're truly using the lean startup philosophy to build your online business, then you want to be in the market as quick as you can. This means you cannot afford to spend extra time thinking about what your domain name should be. What it should sound like. Whether it's easy to spell. This all involves precious time brainstorming. That time and effort is best spent implementing customer’s feedback and actually running the business.

    See Also: The Magic of "Side Effect" Marketing

    Enlist a Business Branding Specialist

    When efficiency is the concern, being able to come up with the perfect business name for your startup might require special hands. However, prepare your purse. Research shows that professional naming companies charge upward of $80K. If your professional naming partners are successful, the results may justify the cost.

    An alternative to hiring expensive professionals to find a brandable business name with a domain to match is using websites like BrandBucket. They offer tens of thousands of handpicked pre-vetted names that come with a professionally designed logo.

    Benefits of Using Brandable Domain Names

    What benefits are there in having a brandable business name?

    As discussed earlier brandable names can give a startup the opportunity to expand to other areas in the future. Unlike keyword rich names that will practically pigeon-hole you to a small niche, brandable business names can give you the capacity to take on other markets under a single brand name.

    Think Apple for instance. The name has no interpretation of what the company does. This gives it room to expand from manufacturing computers to mobile phones, wearable technology and in the future autos.

    See Also: How to Select and Register a Domain Name for Your Online Business

    Some other benefits of having a brandable business name are as follow:

    • Implement Fast: the essence of the lean startup philosophy is to implement fast. This also includes having to provide a uniform brand identity that your customers would associate with. Brandable business names and domain names offer you just this benefit.
    • Adds Credibility to Your Business: Brandable names can help customers see your business as credible, especially when the name has a brandable domain name to match. Margot Bushnaq, the CEO of the leading brandable business names company, said " credibility is a critical success factor for any startup. Having a brandable business can significantly raise your perceived value and give customers the confidence to trust you."
    • Boosts brand performance: Brandable names can improve the performance of a firm. A 2006 study by National Science Foundation found that companies with easily pronounced names performed better after IPO. It's only understandable that this will be the case as brandable domain names are more memorable.

    Having a brandable business name can help your company pivot quickly and bounce back when you fail. Use this guide to determine how to use a brandable business name for your business.

    James Jorner is a content strategist and marketer at Effective Inbound Marketing. His company (Effective Inbound Marketing) specializes in online branding and digital marketing for businesses.

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