If you have made up your mind to start your own financial service company, the path to success might not be as easy as the beginning. In the fiercest competition, naming a financial service company just perfectly is getting tougher with time.
No wonder! Many startups started from nothing and are rising day by day by following fantastic tips and strategies. If you have not started working on such strategies, don’t worry, we are here to guide you step by step to lead the way to success.
Tips for naming a financial service company
To help you come up with great ideas for naming a financial service company, we have gathered a lot of successful tips and techniques. You can become successful right from the start if your company name is ideal and outstanding. Let’s begin with the guide step by step below:
1. Choose a name that distinguishes and identifies the business
Uniqueness in the business name makes your company stand out from the crowd. What Google, Apple, Adidas, Nike, and KFC have adopted to make their businesses flourish worldwide? Their names are difficult to forget, in fact, impossible.
The unique name conveys the specialty of the products and services offered. Therefore, choosing the right name for your company is a vital part of the business plan too.
2. Include your business niche related keywords
Make a list of industry-related names and keywords that look attractive. You can get help from Google to get an idea about such names and keywords.
If you succeed in getting a niche related keyword, it will benefit your online business.
3. Avoid being too creative while choosing the name
Adding a little bit of creativity while naming your financial business is fine. But, making it too creative will make people confused. This is the most common practice most of the business perform these days.
Therefore, select a name, which straight away or indirectly tells people about the services and products you are offering.
4. Keep it simple, memorable, and short
People usually remember simple and short names that are easy to pronounce. For instance, Apple, Nike, etc. On the other hand, hard-to-spell and difficult names to understand are hard to remember.
The business advertisement gets badly affected when the name is tough and complex. However, if your customers remember your name and find it easy to pronounce, it will ultimately help in advertising your business.
5. Combine surnames to add uniqueness
If you are planning to start your business in partnership with someone, you can combine your surnames to come up with a unique business name.
Consider this tip if you are sure about the long-lasting of your partnership. Otherwise, if the partnership does not last for longer, the name will cause some serious trouble for you.
6. Select A descriptive name
Another step for choosing a name is to go for a descriptive name that must convey your brand identity along with its all adjectives, attitudes, and approaches as well. Try to go for your brand essence and benefits, not including only service or products.
For example, the owner of amazon named it Amazon because he wanted a business on a large-scale, he could choose “online books” as well but he didn’t, because he wanted to brand a name on larger scales.
If you are naming a financial service company you can choose a name relevant to assets world, lending tree, etc.
7. Find out a catchy name
You will not choose a boring name for your business. A boring name does not appeal to the customers and thus, hinders the company’s progress. Make a list of relative names and check if the names are catchy or not.
Remove the names that look or feel boring and outdated. Resonate the business name with your target audience to make your company flourish.
8. Steer clear of geographic names
Nowadays, adding geographic names while naming a financial service company is very common. We suggest you avoid geographic names to avoid hindrances later. You’ll face trouble in expanding your business if it is named in some specific area or region.
If you want to keep your business stay in a specific region, then you can adopt this strategy for naming a financial service company.
9. Avoid overused words
Overused words give a sense of common brand names. However, if you combine metaphors and some other words, it can become a unique name. We suggest you avoid common and overused words to avoid in getting a list of common name businesses.
10. Don’t go for short-term trends
Short-term trends do not last long. They create hype for a shorter period and vanish very soon. Don’t choose a business name because of the reason that it’s in trend. Relatively, choose a name that is relevant and seems to stay for longer.
Catchy and trendy phrases get outdated soon. Your target audience will fail to remain affiliated with the brand name if the trend changes. Therefore, do not follow the trend while naming a financial service company.
11. Test with your family and friends
Get feedback from your friends and family. The more appropriate way to implement this tip is by adding your target audience in testing the name. Get suggestions and recommendations from them and finalize a specific name from the list for your business.
12. Conduct a trademark research
After choosing a financial service company name, check if a trademark for your chosen name is available or not. You can check the availability of a trademark from several sites available.
Make sure your company’s name is not similar to any registered company. Otherwise, you can get into serious trouble. If required, take your lawyer’s help while implementing this step.
13. Check if the domain is available
In case you don’t get the domain available to register your business name, it could cause a problem for you. Later on, in building a brand identity across digital platforms, you’ll get into real problems. Therefore, it is suggested to check the availability of the domain right after finalizing the name.
In case you don’t find the domain, you’ll need to change your chosen name for the business. With another selected name, you’ll have to repeat the both mentioned steps of trademark research and domain’s availability.
14. Make an appealing logo
Once you have gone through the naming process for your financial services company, you must figure out an ideal logo for your company.
A logo is a key feature for any business, it helps in recognizing your brand. Go for the brand logo, which is not only appealing but, also describes the core values of your financial services.