Marketing – Your company name

Old 2 Comments on Marketing – Your company name 32

This is another installment of my Marketing posts, geared towards those of us who are business owners, consultants, or anyone with external clients.

Your company’s name says a lot about you. Or does it ?

I’ve seen a lot of good business names, and I’ve seen a lot of bad ones. The good ones make sense and give an aurora of professionalism. The bad ones make it look like the business is a ‘one man show’ and that ‘one man’ isn’t very knowledgeable. So, what does it take to come up with a good name for your business ?

I’ll start off by using myself as an example. When I began my company, which as you know provides 3rd party IT support services to clients, I started out doing strictly web design. I already had a group of companies, all under the umbrella “Iditarod Group of Companies”. So, it didn’t take long for me to land on the name “Iditarod Designs”. Now there are numerous issues with this name on its own, which I will get into later, but it did fit the bill, since I was ‘designing’ web sites. As I completed my first projects, I had clients asking if I provided desktop and network administration services. Long story short, I realized that I could make much higher profit margins doing that work, compared to going after one-time web development projects.

As I got more and more into the IT support world, I found that my chosen company name wasn’t a good fit anymore. I went through a complete re-branding process. Everything got turfed and replaced. New name. New logo. New advertising material. New web site. New e-mail addresses. After some deliberating, I decided on “Orange Technology” as the name, and a simple logo to compliment it:

Now, let’s go over the basics of what makes a good name. First of all, your name needs to be reflective of what you do. “Iditarod Designs”, my original name, went halfway there. It let you know that I designed things, but it didn’t tell you what. Realistically, I should have gone with “Iditarod Web Designs”, but I personally felt that those were too many words. “Orange Technology” is descriptive in the sense that you know that we work with technology. Again, realistically, I should have gone with “Orange Technology Services”, because then you know that my company provides technology services. Think about it, without knowing anything about my business, you know from the name that we offer technology services. This is the kind of message you want to get across with your company’s name.

Secondly, keep it as short as possible. “Yukon Computer and Technology Services and Support Ltd.” is too long. People simply won’t be able to remember it. Your name needs to be short enough that it sticks in people’s heads. “Dell Computers”. “Apple Computers”. “Norton Anti-virus”. “McAfee Internet Security”. These are all short names, yet very recognizable.

Thirdly, think about all the other things you’re going to need for your business. Domain names are a huge one. If you want to name your company “CompTech”, good luck, because there are already about 10 billion of those out there. You need to be unique, but still recognizable and memorable.

There are plenty of other ‘rules’ when it comes to selecting a name for your company. Do your research and make sure you choose something that’s going to help you be successful. Remember, it’s easier and cheaper to do it right the first time around.

More can be found here: http://www.inc.com/guides/2010/06/choose-the-best-name-for-your-business.html

Author

Martin Lehner

Martin Lehner is an technology professional working for an IT services firm in Whitehorse, Yukon (Canada). He has been working in the technology field for over a decade. With a degree in Business Admin and numerous industry certifications, Martin leads a team of IT professionals that provide third party support for clients. Originally starting a company to offer web development services, Martin quickly realized that clients wanted the entire spectrum of technology services. When Martin is not at work (which is not often, since his company offers 24/7 support), he is busy at home spending time with his family.

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2 Comments

  1. Katy Pillman July 14, 2014 at 2:11 pm

    Nice post Martin! Your company name is always makes the customer’s first impression!

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