Many times, the key to the success of a brand is in its name. As much as the product the company offers and the individual characteristics of the company, the name of the company is it’s calling card. The following are important considerations which you should be thinking about in choosing a name:

Is it easy to remember?: As I noted in this article, a unique, easy to remember name can be a huge asset to your company. You may have a personal reason for giving your company a long or confusing technical name, but that doesn’t mean its an effective business strategy. Easy to remember names like Google and Nike have helped the underlying brands become a part of the national lexicon. If a customer has to struggle to remember your company’s name, he or she will most likely choose to use someone else who comes more easily to mind.

Be Unique: You don’t want your name to sound just like everyone else’s. As noted in this article on name branding in the Wall Street Journal, generic names are much more difficult to make memorable enough to attract customers. This ties back to the first consideration, as a uniquely named company is much easier to remember than one which is generic.

Make the Name Fit the Company: While you do not want to make your company too generic, there is value in having your company at least give some idea of what your company does. America Online is one example of this type of branding. It is descriptive enough to give the consumer an idea what the company does, but is unique enough to still be memorable.

Don’t Be Misleading: You want to avoid names which lead the potential customer to question exactly what the company does. This article points out one example, talking about a company called “Unique Body Shop.” As the article notes, the name could have multiple meanings and raises questions as to the services offered. You want your customers to understand what your company does.

Does Your Name Fit Your Brand Image?: You want a name which fits the overall brand image which you are attempting to create. For example, if you are trying to create a sophisticated brand image for your company, you probably want to avoid a humorous or quirky brand name. Similarly, if you are looking to be a more hip and relaxed company, you’d want to avoid a corporate sounding name. As I noted above, your brand name is your calling card.

By taking these things into consideration, you can be well on your way to creating a great new brand name. It just takes some thought and planning.