Not so long ago, branding experts were likely to suggest entrepreneurs use names for their companies that were descriptive of what they did, which typically meant using two or three words. The theory was longer names made it clear to the potential customers what the company did and attracted more customers. However, if you look around, you will find countless very successful companies, often with globally-recognized names of just one word. Names like IBM, Apple, Xerox, Fuji, 3M, Nike, Hilton, etc., are familiar to all, and their small structure makes them more compelling and memorable than longer names. Some of the most important characteristics of one-word business names include:
High Level of Engagement
A short but high-impact business name elevates your business to a new level. It is even better if you can find or devise a name that is a play on words that is apparent to the target audience. For example, Lego, a world-famous toy brand, combines two Danish words, “Leg Godt”, which means “play well”. However, a report in Forbes warns against using hard-to-spell names. You are more likely to succeed on recognition, memorability, and word-of-mouth if you choose a name significant to your target audience and resonate with them.
Drives Emotional Connection
Another thing that many popular one word business names have in common is their ability to appeal to the target audience’s emotions, rather than act as an activity descriptor. For example, while you may be left cold if you see a restaurant serving Greek cuisine named “Food”, you may be tempted to step in if it was branded as “Ambrosia” because of its uniqueness and the emotional connection. Verizon, another global brand joins two words, “horizon” and “veritas”, which is “truth” in Latin, to deliver a single-word brand name that communicates the values of the company subtly.
Excellent Stand-Out Value
When you are launching a new company or brand, it can be easy to play it safe and keep a name that mimics the competition in some way. The idea is that it will save you some effort and trouble in establishing your business name, and customers will trust you automatically because of the presence of more well-established brands with similar names. However, this strategy can spell trouble because you will not be able to differentiate yourself from the competition. Also, many customers will avoid you because they are allergic to companies pretending to be what they are not. It can be better to come up with a single word that is evocative of what you do but is uncommon so that it comes to the attention of the target audience.
One-word names for businesses and brands are invariably catchier because they make a more lasting impact on customers. These names compel customers to stop and think a little differently or see something in a new light. Most of the one-word names are cleverly structured to tap into the psychology and emotions of their target audience. Devising a high-impact one-word name is not easy, but if you can conjure up one that represents your business well, you will have created an invaluable asset.