(BMCF) Social media and the internet changed everything about people's lives. This includes how people construct a business plan. It's changing how companies should name themselves. The name of your company matters. You need to think about your product and company's name extensively because it's also going to be the name of your web address.
Short Domains Are Better
The name of your business is probably going to be your URL. In this case, you want to pick something short. If a domain name is too long, then people aren?t going to remember it. URLS with less than seven characters tend to have higher traffic. If you want people drawn to your site, then you're going to want to keep the domain name short.
Catchy and Opaque Names
Be careful with catchy and opaque names in your business plan. Of course, you want something that?s short and memorable and some companies do great with a made-up word or something that's completely unrelated to the business. There are disadvantages and advantages to going this route. On one hand, you get a punchy URL and a memorable name. However, you also have to have a recognizable company. It might take a lot of money and time to get to a point where your name is connected with the company. The best way to handle this is through finding a name that is memorable and explanatory.
Think About Digital Assistants
Nowadays, digital assistants are on the rise. If you don't have an easy to pronounce company name, then devices like Siri or Alexa will not be able to recognize your name. You want to make sure that your company sounds like your customers would pronounce it. If you want people to find your business, it's crucial that they can pronounce it.
Remember Tiny Screens
With everyone on a smart phone nowadays, you need to make sure that your name is recognizable on a smaller screen. This has more to do with the design than the name itself. You want to think about font and graphic design. You also want to think about how it?s spelled. You want people to be able to process the name quickly.
With social media and the internet common now, you have to think about how it will affect your business. Make sure to keep the internet in mind when you construct your business plan. This is especially true when you are figuring out what to name your company.
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