Looking for tips for naming your store? Here’s a guide to help you make the right choices and avoid common mistakes.
In this post, we discuss the importance of choosing a good store name that resonates with your customers. Selecting the perfect name for your online business is not an easy task and involves various factors. Making the wrong decisions when naming your store can have long-lasting consequences and hinder your chances of success. To prevent this, follow our do’s and don’ts list for naming your store.
The Significance of a Good Store Name
You’ve probably heard of McDonald’s (cue laughter). If not, it’s the largest international fast-food chain globally. What sets them apart? Is it their exceptional service or outstanding menu?
Not quite. Many other restaurants offer delicious food quickly. What truly distinguishes McDonald’s is its brand name. Watch “The Founder”(https://www.imdb.com/title/tt4276820/plotsummary) to learn the story behind McDonald’s.
Surprisingly, the real creator of the chain we know today is Ray Kroc, a former traveling salesman who bought out the original McDonald’s company founded by the McDonald brothers. The brothers invented a revolutionary system for fast cooking and serving, which caught Kroc’s attention. However, Kroc didn’t just steal the idea; he wanted the name.
To him, “McDonald’s” sounded all-American and appealing to the public. Through persistence, Kroc managed to strike a deal with the brothers and became the owner of the McDonald’s brand. The rest is history. In 2020, the global brand value of McDonald’s was estimated at nearly $130 billion (source: https://www.statista.com/statistics/326059/mcdonalds-brand-value/).
This story highlights the importance of a strong brand name. For online merchants, choosing an excellent store name is even more critical. Here are a few reasons why.
The Key Benefits of Having a Good Store Name
- First impression: Your store name is the initial point of connection between your business and consumers. If your name sticks in their minds and evokes positive associations, they are more likely to return and make repeat purchases.
- Search engine visibility: A store name forms the basis of your domain name. If it’s relevant to your niche and includes appropriate keywords, search engines like Bing will rank your online store higher in search results. This means more potential customers will find your site, improving your bottom line.
- Differentiation: With global e-retail revenues projected to reach $5.4 trillion in 2022 (source: https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/), competition among e-commerce businesses is fierce. Platforms like Shopify make it easy for anyone to set up a store, leading to a vast number of online sellers. A unique store name is one of the most effective ways to capture your target audience’s attention.
Many entrepreneurs are willing to pay substantial sums to marketing agencies for the perfect brand name. However, if you’re on a tight budget, you can create your business name yourself.
To help you navigate this process and avoid common pitfalls, we’ve compiled a list of do’s and don’ts.
Tips for Choosing a Store Name: Avoid These Pitfalls
Mistake #1: Opting for a Lengthy and Hard-to-Pronounce Business Name
When selecting a store name that resonates with your customers, it’s crucial to avoid lengthiness. Long words tend to go in one ear and out the other for consumers, making it challenging for your store name to stick in their minds.
An ideal brand name should be concise, consisting of just one or two syllables. Take FedEx as an example. It’s much easier to remember than ‘Federal Express Corporation’ and is also simpler to pronounce. Check out this list of popular global brand names for more inspiration: https://www.independent.co.uk/news/business/news/apple-most-valuable-brand-iphone-7-google-cocacola-a7345501.html.
To come up with a short and easily pronounceable store name, consider these approaches:
- Combine a couple of short, similar-sounding words that describe your company’s offerings. PayPal, for instance, signifies ‘paying your pal,’ highlighting its peer-to-peer money transfer service.
- Unleash your creativity by inventing a new word or modifying an existing one. Xerox, derived from ‘xerography,’ which means “dry” and “writing” in Greek, is a prime example.
- Utilize abbreviations or acronyms. FedEx and BMW are great illustrations.
Of course, these are just a few of the many paths you can explore when brainstorming a store name that is both succinct and easily pronounced.
Three additional tips to keep in mind:
- Avoid using silent characters, such as the ‘e’ in ‘line.’
- Steer clear of special symbols like ampersands (&) in your store name.
- Discard articles like ‘the’ or ‘a(n)’.
Mistake #2: Copycatting Other Brands
It’s important to avoid the common mistake of trying to imitate successful brand names. Some companies may be tempted to slightly modify a well-known brand name, like spelling “Amazoon” instead of Amazon, in hopes of capitalizing on their competitor’s success.
While this tactic may initially attract more traffic, it can lead to significant trouble for an online store, including legal consequences. Having a store name that even remotely resembles another brand, especially a well-known one, can attract aggressive lawyers ready to pounce.
Tweaking another company’s name is just one of the tricks that should never be considered. It’s also crucial to avoid using words that are already prevalent in your niche competitors’ brand or domain names. For instance, if they use the word “furniture,” be sure to choose something completely different while still describing your business. Take the time to research and review your competitors’ stores.
Mistake #3: Neglecting Your Target Audience
Another mistake to avoid is ignoring the wants, needs, and financial capabilities of your target audience. When creating a store name, consider the following criteria:
- Age segment (e.g., people in their 30s, 40s, teens)
- Price range of the products you’ll sell (cheap, expensive, middle-range)
- Gender segment
Your store name and theme should reflect these characteristics. For example, if you’re targeting young shoppers, incorporating words and phrases from their typical vocabulary or using vibrant language can be effective. An example of this is Boohoo (https://us.boohoo.com/), an online store catering to “sociable twenty-somethings” with trendy clothing.
When selling high-end products, opt for a sophisticated and aristocratic store name. Using personal names is common in this case, as seen with Gucci (https://www.gucci.com/).
Avoid using prices and numbers in store names as it is generally discouraged.
Lastly, consider whether you primarily intend to target male or female consumers. Female-oriented store names often evoke beauty, gentleness, and harmony, like Senreve (https://www.senreve.com/), an e-commerce site selling luxurious handbags. The name combines the French words for “sense” and “dream.”
For men, choose store names that sound masculine, such as Moosejaw (https://www.moosejaw.com), a store offering trekking essentials.
How to Choose a Store Name: Do’s
Utilize Available Resources
When deciding on a store name, don’t overlook the people around you, including friends, relatives, colleagues, and customers. Ask for their suggestions and ideas as they may provide valuable insights. Additionally, there are numerous business name generators available online, like the Oberlo Business Name Generator (https://www.oberlo.com/tools/business-name-generator) and Namesmith (https://namesmith.io/). These tools can help spark ideas and creativity.
Seek Feedback and Test
If you have already come up with a business name, ask for opinions from your friends and acquaintances. They might notice crucial details you may have missed. Testing your newly born store name wherever possible is also essential.
Consider Future Growth
Every business aims to expand and increase revenue. Even if you’re currently targeting a specific demographic, think about potential future growth. Choosing a store name that doesn’t limit your offerings to a particular age, gender, or price range is a safe bet. This way, you won’t have to go through the painful and costly process of rebranding when you want to reach a larger audience.
Give Adequate Attention to Your Domain Name
Once you’ve settled on a strong business name, the next crucial step is securing a matching domain name. Your domain should align with your store name, with no spaces. For example, the online retailer Urban Outfitters has the domain name: https://www.urbanoutfitters.com/.
Selecting the right domain extension is also important. While .com is the top choice for e-commerce sites, as it stands for “commerce,” there are other options to consider, such as .ly, .me, .org, .co, .net, and more.
If your budget allows, consider purchasing multiple domain extensions to prevent competitors from using a similar domain name with a different extension. This safeguards your brand identity.
Before purchasing a domain name from a hosting provider like GoDaddy, verify its availability. The Shopify domain name generator (https://www.shopify.com/tools/domain-name-generator) is an effective tool for this purpose. Simply enter your preferred name, and the tool will inform you if it’s unique and available.
Lastly, check popular social media platforms and marketplaces like Amazon to ensure that no one else is using the name you’ve chosen.
Wrapping It Up
Choosing a store name that resonates with everyone requires thorough groundwork. Take the time to carefully select a good store name, as it plays a crucial role in your online success. Remember, “Draw not your bow till your arrow is fixed.”
We hope the tips provided in this post will guide you in choosing the perfect name for your online store.
