Your business name should be unique and not easily confused with other names. You don't want your clients to confuse you with other similar companies. Word of mouth is the most successful, and common, method of marketing. When people talk about your company they often will not be giving out your phone number, address, or website domain name. Make sure that when people talk about your business there is no confusion as to if they are talking about another company.
Memorable and unique are not the same thing. Your business name should not only be unique but it should also be easily remembered when shared with others. You want your clients to have your business name on the tip of their tongue when telling others about your company. When people hear your business name, by word of mouth, you want to make sure they remember the name without needing to write it down. This is why rhyming and play-on-words is so common in business naming.
Don't overlook how important it is that customers can tell what your product or service is just from your name. You should at least hint at the industry your business is in. You want people to feel confident when they approach your company for service. Two examples seen recently of poorly described business names are "Versatile Ambiance" and "Vera Bird." Neither of these names gives a potential client any confidence in doing business with them.
Funky names can be fun, but they can be hard to share through word of mouth. Although some brands have found success with misspelled or complexly spelled names, in general, it takes more marketing power to get traction with names that are not easy to spell. Avoid hard to pronounce names for the same reasons. Starting a business has enough hurdles and obstacles, don't give yourself more by creating a complex name that nobody can spell.
Let's admit it, you're not very creative, but other people are. Entrepreneurs are now turning to crowdsourcing to help name their businesses. Crowdsourcing is the practice of using the public to solve a task normally solved by an agency. On crowdsourcing naming sites the public can help name your business through a contest. You can normally get hundreds to thousands of name suggestions through crowdsourced business contests.
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