Before launching my record store here in Florida I spent months thinking about there right name for the shop, before eventually settling on Soul Quest Orlando. I may not have always paid attention in school but one thing I do remember about business is that a name is a very important aspect of the business and it is worth spending the time on coming up with a great one. That work which we put into coming up with the name has really paid off and helped the business is numerous ways. If you own a business or you are thinking about starting one, here is why you must ensure that you come with a great name.
The biggest benefit which we have had thanks to the name is that people are able to easily remember it, and that helps you out in terms them coming back to the store, and spreading the word. The name Soul Quest is one which gets a lot of comments and I am super confident in the fact that people easily remember who we are and what we do. There is also the point about it being a conversation starter, when people see the name on the side of a bad. This is not to say that every name should be shrouded in mystery, in some cases you want the name to tell you exactly what the store or business is all about, for us, the mystery works.
When its comes to marketing, which of course is something that every business will end up doing, you need to get very creative and a great name can often play a key part in that. Let’s say that you have a clothes store and you decide to call it after your name, you are going to have to do a lot of work to promote your name and get people to remember what the business does. In contrast, even if you called the store ‘Just Clothes’ you could easily run a campaign based on that which can bring in customers.
Businesses large and small have to really heavily on branding because it is one of the most proven ways to create a solid trusting relationship between you and the customer, who place a lot of faith in brands. To create that brand you need a great name, one which people will remember and one which people will be drawn to.
Throughout history some of the world’s greatest businesses have started off with one name and quickly learned that it has held them back, they have changed the name and then they have been recognized for the great service or products which they offer. This is how powerful a name is, that you could have an amazing product or service but if your name is terrible then you may never see the success which your business deserves.