There’s a lot to consider when it comes to starting a new business. This is perhaps why some leaders choose to put aside aspects that they deem less important; such as choosing a name for the business website. But according to a study on firm names from the Cornell College of Business, some names can give the impression of a committed entrepreneur, while others make audiences look less favorably on firms. Local culture also plays a part in what names are associated with. In this feature, we’ll be delving into reasons why choosing a name for your business website should be higher up on your priorities list.
Competition Is Tough
The Manila Times reported that the startup ecosystem in the Philippines skyrocketed to more than $2 billion this year. This vibrant ecosystem is a testament to the various innovations and advancements Filipino entrepreneurs have achieved, despite the challenges posed by COVID-19. That said, this also means that competition among small-medium business owners (SMBs) will be especially tough. Your business name and your website should be of good quality in order to stand out on the playing field.
Names Are Abstract Ideas Concretized
As an entrepreneur, you might have a few abstract ideas that you want to turn into concrete ones. Of course, this is no easy feat, since thousands of other businesses might have the same concepts, products, or services as you. If you’re in a pinch, you can turn to resources online to check the availability of a username or domain name to help you out. It’s a tool that can help you find creative words, brainstorm more efficiently, and automatically check name availability for websites.
Names Can Tell A Story
In the Cornell study referenced earlier, it was mentioned that names associated with personalities can help customers associate it with the idea that the entrepreneur is committed to protecting their reputation. This is especially relevant in the Philippines, a country that is big on family and values. Some long-standing brands such as Mang Tomas and Max’s Restaurant evoke a sense of trust and familiarity, while newer brands such as Vice Cosmetics bank on the story of their namesake – in this case, Vice Ganda.
Business Values Can Be Reflected On A Name
In line with our previous point, names also allow entrepreneurs to create narratives that resonate with their target audiences. One good example would be Happy Skin, a locally developed makeup label. Creators especially created the brand for women who wanted a natural approach to makeup using products that did more good than harm to the skin. That said, your website name is also one of the first aspects of your brand that will be made known to customers. It only makes sense to go with a name that tells of your values.
A Website Can Broaden Your Reach
Lastly, having a business website can significantly show prospective customers that your brand is credible and legitimate. Having a well-made, professional website with a great name is one of the best ways to stand out from the competition, especially now that we live in an online-centric world. Having a website will also allow you to rank well in Google search results, so whenever people search online for a product or service similar to yours, your website will be the first to pop up.
Overall, choosing a website name as the first step to starting your business is an approach that has several benefits, and one that’s definitely worth trying. For more helpful articles, check out the rest of our blog and our website here at The Filipino Expat Magazine.