"What's In a Name?"

“I read in a book once that a rose by any other name would smell as sweet, but I've never been able to believe it. I don't believe a rose WOULD be as nice if it was called a thistle or a skunk cabbage.” I believe Anne Shirley was on to something when she called Shakespeare out in L.M. Montgomery’s book, Anne of Green Gables. The name of your business has the power to make or break you – or at least cost a fortune as you work to educate people on what it means, how to pronounce it, and what exactly your business does! So, today, we’ll cover the basics of how great business names are born.

I’m a creative person, and I came up with some fantastic business names before finally settling on Marketing Flexibility. There were various reasons the others didn’t make the final cut. Here are some serious considerations to make as you decide on a name for your new business.

1.    Is the name flexible enough to evolve as your business grows and changes? Sure, the name needs to clearly articulate what you do, but getting too specific creates a risk of outgrowing the name.

2.    Is the name user and search friendly? Special characters, such as parenthesis, or creative spelling may feel unique and on trend, but trust me, it creates confusion for both your target audience and search engines.

3.    What is the connotation? Testing is critical on this one. Take your potential business name on a test drive with family and friends. Ask what the first thing is that comes to mind when they hear it. The answers will likely surprise you. If you plan to go global, make sure your test group represents other cultures as well.

4.    Can people pronounce it (without explanation)? I once worked with a global brand that hired an expensive agency to select a name. After five years in business, they spent tens of thousands of dollars on a campaign to educate people on how to pronounce it!

5.    Does the name clearly articulate what you do? I know that I’ve already said you shouldn’t get too specific, but the same is true for being too vague. There are businesses I’ve passed daily for 10 years, and I’ve just never figured out what they do.

6.    Is the domain name available? Yes, this is critical. If your business name and domain name are not the same, people will be confused. They’ll search for you online and end up on either a competitive website or one that’s unrelated altogether. Either way, they will be frustrated!

7.    Is the name available on major social media channels? Do a quick search on Facebook and Twitter to make sure someone else hasn’t already adopted the name.

8.    Is the name already taken? Make sure the name is available for use in your state of operations and is not registered as someone else’s trademark.

Naming your business can be an emotional roller coaster. There will be names you love that others shoot down (listen to them!), and names everyone loves that are simply not available. But the hard work and time is worth it when all of the pieces come together and you get it right. Sorry, Shakespeare, a rose by any other name may not smell as sweet!

Twitter and Facebook and Pinterest, Oh My!

The world of social media is vast, and it can be tempting to respond in one of two ways. Some businesses ignore social media completely, retreating into denial of how critical a presence is. Other businesses go all in, opening 20 different social media accounts, only to find they can’t possibly manage them effectively. So, what is a small business to do?

There’s no doubt the number of social media channels is overwhelming, even for large businesses and social media experts. My best advice for small to mid-sized businesses is to do your homework. Figure out where your target audience is hanging out online. Likely, the 90/10 rule applies here, with 90% of your target audience engaged with only one or two social media channels. Once you determine which channels those are, you can focus on getting a really great presence there, with effective and timely engagement. After all, social media is all about building relationships, and relationships take time to nurture.

So how do you figure out where your target audience is spending their time? Here’s a list of ideas to get your gears turning.

1.    Ask them! Most people won’t mind sharing which social media channel is their favorite.

2.    Consider their interests. If you’re a wedding photographer, I would bet your brides are hanging out on Pinterest, pouring over dress and décor photos. If your target is a ‘car guy’, I would bet they’re on You Tube, looking for videos on how to repair cars.

3.    Do a little research. Just search “social media demographics” and the results are staggering. The research has already been done for you. If you’re more of a visual learner (like me), search “social media infographic”.

So, now you’ve pinned your target audience down to one or two social media channels. Now what? Manage those channels well! The only thing worse than having no social media presence is to create more channels than you can effectively manage. Consider how bad it looks when a customer finds your Instagram or LinkedIn account, only to see it has been abandoned for two months. Hmm, maybe this business is out of business?

Do some research on the most effective frequency of updates too. For example, studies have shown that businesses that post Twitter updates between two and five times per day get up to 300% more retweets or shares than those who tweet more or less than that. Optimal time per day for tweets? 4:00 p.m., but don’t forget about time zone differences. On Facebook, five to ten posts per week is shown to be optimal. Post less than that, and you lose the connection with your followers. Post more than that and it begins to feel like spam.

Remember, you only have to be a social media expert on the small number of channels your target audience is using. Of course, Marketing Flexibility is here to help if you find yourself retreating into denial!