Five Common Software Company Names Myths
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Make The Business Name Flexible
It’s advisable to make room for your software company to expand and adapt to new technological trends. Naming your company in a specific niche may be difficult to change when you want to expand to other software industry areas.
For instance, you may set up a SaaS software company to sell SaaS software products to respective clients. But it can be difficult to branch out to other areas due to the “SaaS” in the company name.
Related: How to Create Tech Company Names
Even though there’s nothing wrong with it, especially if you don’t plan to branch out, it’s always best to be flexible in your company name should you want to expand in the future.
Make The Company Name Original
Let’s assume your name is Kevin Hart. Don’t name your company, “Kevin Hart Software Solutions.” Besides the vast disappointment from your clients, the popular Kevin Hart will take over your brand everywhere on the internet.
Even though it’s a funny example, the consequences can be disastrous, primarily when you use someone’s trademark (more on trademarks below). You’ll get sued, and most people, including your potential clients, will see you as a cheap rip off. Your business will be seen as a sales gimmick.
So always make sure that you have an element of originality in your name.
Simplicity Is Vital
When generating software company names ideas, come up with names that are easy for people to pronounce. If you have to repeat your company name several times for someone to understand, then you need to change it.
Say the business name to your friends, family, and colleagues and see their first impression and reaction. That will tell you a lot about your business name. You’d be surprised by how people understand specific names they hear.
Now, let’s find out about the popular types of business names that you can use to develop your company name.
7 Popular Types Of Company Names To Help You Develop A Strong Brand Name
In this section, we will help you understand the types of names that will help you develop a firm company name and fit perfectly for software domain names. We’ve grouped them into seven divisions:
Let’s dive deeper, shall we?
Businesses with descriptive names tell you what they do – the services and products they offer. Due to their expressive nature, they are usually ordinary. Even though it’s functional and practical, using descriptive names creates small room for any creativity.
For example, E*Trade, TD Ameritrade, General Motors, and Toys R Us shows what they do before you interact with the company. That’s the positive side of using descriptive names. The downside is that it can be challenging to get a trademark since the words or phrases used are usually common.
Founder names, of course, derives from the founder of the company. Some of the names with founders include Ralph Lauren, Martha Stewarts, etc. You can easily trademark founder names because of their distinctiveness. But you’ll need to put more effort into your marketing efforts for your brand name to catch on, unless you’re already famous.
Some companies attach the location of their state or region to their business names, for example, Arizona Tile, California Tan, etc. Some disadvantages come from limiting yourself to a particular state.
One clear disadvantage is difficulty in expanding to other regions or countries due to the name of the area attached. Some companies, realizing the dangers it poses, changed their name into an acronym, or removed the region from its name. That way, they can grow their business without any hindrances.
However, some companies are still thriving even with the region attached. The decision lies on you to determine whether it’ll affect your business in the long run.
Thousands of companies have used abbreviations as their business name over the years. Popular company names such as IBM, AT&T, UPS, etc. have made their brand names work for them. However, as a startup business, it may be challenging to promote your business because:
- It’s generic and difficult to trademark
- It’s hard for people to remember
It can work if your business is already established, and you’re using the acronym as a rebranding strategy.
Lexical relies on the play of words to generate words that are easy to remember. Some lexical words involve alliteration, phrases, puns, deliberate misspelling, compound words, etc. For example, Krazy Glue, Sizzler Steak, Volare, etc.
Throughout the years, people have taken notice of almost all lexical advertising tactics. So it’s not surprising anymore, unless the wordplay is exceptionally creative.
Invented Or Fictional Names
If there’s no perfect name for your company, invent one. Invented names are distinctive, creative, and can sustain the company if done well. Numerous of the names are created from foreign languages such as Latin or Greek.
A lot of software company names make use of fictional names for the name of their company. They’ll either fabricate the name or use creative spelling. However, make sure people can easily say, write, and spell the name.
The fictional names are perfect for software domain names, so if you’re planning on utilizing the website, you should try using fictional names.
Examples of inventive or fictional names are Exxon, Google, Netflix, Instagram, LinkedIn, etc. The problem with invented names is that there’s no definition unless the company creates one. Even though the trademark is simple, it will take a lot of branding to establish a tangible meaning in customers’ minds.
Symbolic Or Evocative
When you use evocative names for your business, the name holds profound meaning which you want the company to reflect or showcase. The evocative or symbolic names tend to be more than the product or services you offer.
Some of the dominant brands with evocative names include Amazon, Virgin, and Nike. Due to their original nature, it’s simple to trademark compared to the descriptive names discussed above.
However, if you don’t align the internal and external purpose of your business with the evocative names, it can cause more harm than good. That’s because people see what’s authentic and what’s not.
Some Names Work Where Others Don’t
When it comes to generating software or tech company names ideas, you have to remember that some business names may not be ideal for your company, but maybe working exceedingly well for another company.
For instance, General Motors may be generic and don’t involve any creativity, but it has built an enormous reputation for itself. Remember that there could be other factors that are keeping the company on the top level. That may not be the same for you, especially if you’re a startup company.
So we recommend you stick to the five elements explained in the previous section to come up with a great name that’s simple, unique, catchy, and memorable.
3 Things To Consider In Generating Software Company Names
After choosing which name will best suit your company from the types of names, you now have to consider some factors before you develop your company name. Here are the three elements you need to keep note.
The general rule for deciding on a company name is to keep it between two syllables and less than ten letters. The reason behind the general rule is because people remember words that are concise and simple. And also easy to search for in Google.
In 1927, the Boiler Manufacturing Company and Southern Ohio Amalgamated Steam Traction Engine closed down. If they hadn’t shut down, they would have probably changed their name by now.
When developing your company name, include website name ideas so that customers can search for your name on Google without misspelling your name.
According to Search Engine Land, organic searches (when someone searches your company name on Google) brings more than 50% of traffic to your site. That’s 50% of potential customers.
Before making a final decision on a business name, conduct short research on Google search results to know the competition you’ll have. If the competition is a reputable company, you may need to come up with another name.
Connect With Your Customers
Your business name should have an understanding or connection between you and your customers. An excellent example is PayPal. “Pay” shows what the company does, and “Pal” shows the connection or relationship between them and their customers.
How To Check If Your Software Company Names Are Trademarked
After selecting the best name out of software development company names, you have to find out if the name is already being used. There are three ways or places to verify. Let’s quickly go through them.