Founder @ NowSourcing. Contributor @ Hackernoon, Advisor @GoogleSmallBiz, Podcaster, infographics
Everyone wants to know: "What’s in a name?" Truthfully, the question should be "What’s not in the name?"
Tech is a booming business nowadays, with lots of new industry niches, wide audiences, and a host of competition from all corners of the globe.
If you want to make it big, you will need to stand out. Offering unique products or promo codes, sadly, is no longer enough. The appeal of your business will need to be unlike anything else on the market, empowering shoppers, engaging leads, and retaining clients. This is the power of branding.
Good branding begins with a good business name. Unfortunately, this is not always as easy to nail as you might think. Poor business names do a lot more harm than good. In fact, many of them denote a lack of empathy or self awareness on the part of the company. Bad business names generate bad publicity, poor media attention, and online backlash. Legally changing a business name costs over $180,000.
Psychologically, business names should appeal to a vast audience and remain timeless in nature. In order to hack the system, try using some attention to detail. Resist the urge to ride the waves of temporary fads. Not only will fads fade quickly, but they often move from chic to cringe in a matter of months.
Avoid creating business names that sacrifice succinctness for uniqueness. Twitter was once known as Twttr, but the company made a decision to change titles as of 2006. The rest is history.
Don’t choose a name that bears too close of a resemblance to competitors. Consumers want to see a unique tilt to your business, not a copycat naming scheme.
Business names in the tech industry need to make a good impression on their audience, or else be washed under dozens of competitors in the process. Understanding the status and headspace of your company in comparison to your audience is key to finding success in the tech market and beyond.
Hack the psychology of tech business names with strong keywords, good phrasing, deep research, and selectivity. A little extra thought will go a long way.
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