How to Choose a Name for Your Ecommerce Startup Business
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How to Choose a Name for Your Ecommerce Startup Business


You’re listening to the ECommerce Success
Show: Tips, Tricks and News to help you make more sales online, and now, your host, Nikki
Purvy. Hey, it’s Nikki Purvy, your host of the
ECommerce Success Show, presented by Lidyr Creative, where we talk Tips, Tricks, and
News to help you grow your business online and this is episode number 13. This episode
is going to be a special episode geared towards the brand new entrepreneur, the brand new
ecommerce business owner. If you are just starting your ecommerce business, or you’re
about to start your ecommerce business, then this business is for you. Now, this doesn’t
mean that this episode is not for the seasoned vets, because, as you know, we have our tips
section – or tricks section I should say, where we talk about just random quick tricks
and we have our news section which is quintessential for every ecommerce business owner, so be
sure to stick around, you seasoned vets, and you never know. There maybe something in the
– our tricks, our tips section that will help you onto your next venture, because we know
that you ecommerce business owners, you’re serial entrepreneurs and no one can stop you
from starting businesses, so let’s hop right into it. In our tips section, of the show, we are going
to talk about how to choose your ecommerce business name. How to choose your ecommerce
business name. Let me talk a little bit about why this is going to be a topic for us. I
know it sounds really, really, juvenile but you couldn’t believe how many business owners,
people who have been in business, been in business for years, they start a business
and they choose a business name that can doom them. I’ll give you a perfect example, and
that is me. My – One of my first businesses had a really, really, crappy name: Estava
Morioka. Don’t worry about what it means, it’s completely irrelevant, it doesn’t
matter, it’s a name. You probably forgot what it was just that fast and that’s why
it was a crappy name. The name was too long, it was too difficult to remember, and it hurt
us. It hurt us really badly and I don’t want you to make the same mistakes that we
made. You want to make sure you that you choose names that people are gonna remember. Names
that will stick out in their mind but also names that would differentiate itself from
the next business. So, let’s talk about the tips to choosing your business name. The
first tip is going to be keep it to 15 characters or less. 15 characters or less. Why 15 characters
or less? 15 characters or less because, if you choose a name, you want to also, in this
digital age, you want to also have that name be represented. You want to represent yourself,
with that name, on all social media platforms. A lot of times there are character limits
to how many characters you can have in your name and your @ name, on a social media platform.
So, for instance, on Twitter, which is a very important social media platform, it is 15
characters or less. So, if you have a name that’s super long. One, people won’t remember
it, you don’t want to give people a full tongue twister, when they are trying to say
your name, or you want them to remember your name, and Two, you want to be able to secure
that same name on all social media platforms. So, for instance, we are Lidyr Creative on
every single social media platform. On Instagram, Twitter, Pinterest, Youtube, everywhere. So,
be sure to keep it to 15 characters or less. It’s a nice area where someone can spit
your name off, remember it, it leaves an impression, and you keep moving on. This next tip is to choose a business name
structure – if you have no idea what your name is going to be and you’re completely
lost, this section is good for you, because it’ll help you to decide what structure
you’re gonna use in choosing your name and then you kind of dive down one of these 3
structures that I’m gonna tell you about right now. The first structure is choose a – you can
choose a person’s name or people’s names, for your business. Great examples of this
are Charles Schwab, AG Edwards, Armani, Dolce & Gabbana, and Nordstrom. This is a great
– Or you can name it after yourself – this is a great way to start your business, but
I want you to be careful, to be sure, that your business name evokes the same emotion
that you want people to have when talking about your business. So, Charles Schwab for
example, sounds like a very straight and narrow, honest, conservative name. You want that,
when you have people handling your money, correct? The same thing with Nordstrom. It
sounds very classy, and very above the clouds, and that is exactly what you get when you
walk inside of Nordstrom. It just so happens to be the owner’s, the founder’s name,
the family who founded Nordstrom, their name. Their last name is Nordstrom, but it sounds
exactly like what it is when you walk into Nordstrom. It’s very clean, you get a lot
of customer service. It’s a very classy place, they have pianists playing, while you’re
shopping. That’s class. Let’s use this – Also this example of Dolce
& Gabbana. To us Americans, Dolce & Gabbana sounds very exotic, it sounds also classy,
but that’s exactly what the brand is. Dolce & Gabbana, two people’s last name, and their
last names just so happen to be something very exotic, and classy, and high end. So be sure, rather than just naming it whatever
name, be sure that that name also matches the emotion that you want to evoke when people
say your business name. The next type of business name is one of my
favorites. It’s what you call a portmanteau. This is also one of my favorite words in the
English language. One of my tippy top favorite words in the English language, portmanteau
– P-O-R-T-M-A-N-T-E-A-U. A portmanteau is a word whose form and meaning is derived from
the blending of two or more distinct forms. You probably do it all the time when you’re
joking around with your friends, or when two celebrities get together. Kimye, Brangelina.
That is a portmanteau. So, I’ll give you an example of some business portmanteaus.
AMTRACK – it’s a combination of AM- America and TRACK. Microsoft: MICROcomputer and SOFTware.
Groupon: GROUP and couPON. Pinterest: PIN and INTEREST. Comcast: COMmunication and broadCAST.
These are some really great examples of portmanteaus, whose these businesses have gone onto be literally
some of the top businesses in the world. So, who’s to say that you can’t make up some
really, really, cool word between two words that mean something to you and your industry;
that means success to you and your industry and just blend them together and create a
brand new word. 7:27 The next structure is you can choose two or
three words. Just words out of the English language. You want to make sure that you use
words that evoke emotion that you want people to have when they think about your business.
Be sure that you are selecting really good names, really good words, words that are easy
to pronounce, but also memorable. Some examples of that are American Express,
99Designs, House of Blues, Ticketmaster, and Women’s Wear Daily. So these are really
great brands and they just took two or three words out of the dictionary that meant what
they want – what they wanted their brand to represent and combined they are now household
names. The next example, I said 3, but I’m sorry,
there are 4. The next example is you can make up a brand new word. This is the hardest.
This is the absolute hardest to do, but you can do it, if this is something that you really,
really, want to do. What you want to do is make sure that you keep it memorable and short.
You don’t want to make up a new word that’s something really, really, long because people
will never, ever, ever remember it. Keep it memorable, and short, and this is
a really great example because some of the largest companies in the world are completely
made up words. So, let’s go through some examples. I know that you have already guessed
the top, the tippy top example, Google. That’s a whole new word made up, no one ever heard
of that word ever except when a baby just said Goo Goo Ga Ga and Twitter, Yahoo, Skype,
and Ikea are all words that people have completely made up. Keep in mind that these companies made up
these names with some sort of story or inspiration around it. Research them to find out what
their inspirations are and it may help to guide you in creating your brand new name.
So, those are some types of names that you can make up. So, once you’ve decided on
one, make a list of some names after you kind of go through all of that, write them down,
and then use this tool called Knowem.com Knowem: K-N-O-W-E-M. Knowem.com. Knowem.com allows
you to put the name into the search field and it’ll show you if it’s available on
all social media networks, as well as if the domain is available so you’re not stumbling
around all over the internet, like “Okay, I love this name…whatever Redshoes.com,
we know that that’s not – that’s not available. I love this name Redshoes.com and then, now,
I have to go to Twitter and check if Redshoes, @ name Redshoes is available. Or if Instagram
is available, so on and so forth. But just go to Knowem.com, and just search, and it’ll
give you an answer about everything. I like, when I choose any business name, for any of
our businesses, I like to make sure that it’s available everywhere. I don’t want to fight
anyone over the name, I don’t want to fight anybody over the name, I don’t want anybody
getting – making any money, making any businesses off of my efforts, I don’t want anyone getting
any followers off of our efforts, so I like to make sure: “Okay, no one cares about
this name, this is a desert, this is no man’s land, I’m gonna take over this name in the
desert, and grow some trees, and water it, and nurture it, and make it become something. If you are still stuck, after doing all this,
I will give you my top tool that I use when coming up with business names and helping
our clients, top tool, the number one top tool is something so simple. The Thesaurus.
The Thesaurus is your best friend as a business development person.
The thesaurus is your best friend. Use it. If you have an idea, but don’t have a name,
jot down some words that mean what you want your business to mean. What you want your
business to represent. Excellence, success, whatever, moist, dry, I dunno, whatever your
product is, just write it down a whole bunch of names and then take your time, this is
not a quick hit it and quit it thing. This may take you a couple weeks, this may take
you a couple hours, this may take you a couple days, it might take you a couple minutes.
I don’t know, but don’t put a time limit on it. Drop some of those words into the thesaurus
and then just really kind of go down a wormhole and see where it takes you. Use the Urban Dictionary as well, you can
use – I came up with a name for something a couple of days ago and I used the Urban
Dictionary. I mean you – it’s – you just never know. I just stumbled over my words
but you just never know. So take your time, use these online resources. We live in the
world of information and you just have everything at your fingertips. So, that concludes our
Tips section for the day. The other tip that I wanted to give you, that’s
a little off the cuff. Because this episode is geared towards you brand new ecommerce
business owners, I do have another bit of information, and it is the form of a free
download. A free download. If you are also in this phase and you are thinking of starting
your own business, I want you to download our Ecommerce Starter Kit. It is a free download
and it gives you a lot of information that will help you wrap your mind around what are
some of the costs going to be associated with starting an ecommerce business. I know a lot
of you think that, “Oh, I’m gonna start an ecommerce business and it just means that
I can do it for free,” no, that’s not what it means. It just means your costs are
a little bit less, they’re different, they come in a different form than a regular brick
and mortar, but they’re also associated – there are some associated.
The other thing is there are some basic concepts that you need to be able to wrap your mind
around, as you enter this foray of ecommerce business. You need to understand these concepts
and you need to understand these costs that are associated with them. You need to understand
the options you have. So, with that being said, be sure to download our Ecommerce Starter
Kit. At lidyr.com/starterkit. L-I-D-Y-R-DOT-COM-FORWARD SLASH-STARTERKIT. Download it right now. It’s
free, it’s easy, and it’s gonna help you out. So, let’s hop right into the next section
of our show which is our Tips section. The first tip, as you know the tips come from
our Instagram page, and we post – I’m sorry, these are tricks, not the tips. The tips we
already just did them. These are the ecommerce tricks. I’m sorry. The tricks come from
our Instagram page @lidyrcreative and we post them on our page and I just like to pick the
ones that are the most popular and just kind of round them up and sum them up for you guys,
on the podcast webshow. And the first tip is humanize your blog and
in the caption we put “build a connection with your customers by sharing the core values
of your company and what can be expected. Potential customers are more likely to use
your services once they know you can be trusted.” Humanize your blog. People don’t like to
talk to machines. They like to know if there’s a real person that can actually care about
whatever their concerns is, whatever there problem is that they need to solve. The next tip is, the next trick is clean up
your landing pages. The caption read: “keys to a great landing page is to have good copy
editing, a clear headline and proposition.” There’s a whole world – you can write a
whole book about landing page copy and landing page, just proper landing page etiquette.
So, be sure that you’re very mindful of that on your big landing pages on your website. The next trick is secure your brands and product
names. Be sure to follow all legal steps to protect your brand and product names. Keep
in mind the more recognition that your brand – your business – gains, it increases the
risk of others capitalizing off your brand. Remember to trademark all logos and product
names.” And guess what? This also goes back to the tip that I gave you about making sure
that you can secure your business name on all social media site. So, 15 characters or
less and also make sure you secure it. This ties exactly into what we just talked about
with your business name. So. the next section we’re gonna move right
into is Ecommerce News. My favorite section of the show. Not that the other sections aren’t
great. This is just my favorite, I don’t know why. So, these are news articles that
you guys need to know about or news pieces that you guys need to know about as ecommerce
businesses because the ecommerce world is ever changing, ever a changing. It’s ever
a changing and you guys need to know, you need to be on top of it. You need to be on
top of it, so the first bit of news is Amazon pulls hoverboards over safety fears. I’m
sure you probably already heard about this, I don’t know, but these hoverboards, or
Kiarra, who’s our VP of business development, she loves to correct people. Me, everybody.
It’s not a hoverboard, it’s a rollerboard. So, it’s a rollerboard. So, Amazon pulls
rollerboards for – over safety fears. Amazon has begun to pull some hoverboards from sales
after fears about fires caused by the self balancing scooters. They warn people that,
for the time being, we are not recommending any hoverboards until they are proven to be
safe. Last week a hoverboard exploded in a shopping mall in Washington state, sending
shoppers into a panic. No one was hurt but everybody’s been talking about this. Early in December, Britain’s Trading Standards
Authority warned buyers to beware and reveal that 88 percent of the hoverboards imported
from outside of the EU, that it had tested, had failed basic safety checks. So, what does
this mean to you? This means to you, 1, Don’t buy your kids rollerboards for Christmas.
We’re just about a week away from Christmas, right now, 2015, and I know you might have
bought some – bought a hoverboard, but be very, very careful. This also means that there’s
probably going to be a shift in what’s going on in this big hoverboard craze, so I’m
– it affects a lot of businesses out there: manufacturing. It may affect you directly,
it may affect you indirectly. There are a lot of ecommerce businesses I know that hopped
right into this because the mark up on them were just crazy. They just, even if they’re
selling, I don’t know, blue couches, you know I’m gonna get some hoverboards and
set up a landing page and sell some hoverboards! You might have done it. I’m not sure, but
just be careful that, y’know, there’s some major, major, safety measures and you
do not want to place yourself in a legal battle because someone hurt themselves. You just
really, really, don’t. So, just be careful. The next bit of news is Facebook Local Services
Search takes on AngiesList. So, Facebook now houses a search engine for ratings and reviews
on local businesses, including services such as plumbing and pet grooming. It sounds a
lot like AngiesList? Yep, and Amazon Local? Because it is. So, this is something brand
new, and by the way, that story came from TargetMarketingMag.com. This is something
brand new that Facebook is doing, so business owners, be sure to have people rate and review
and Facebook is gonna have their own little private AngiesList and on the platform and
it’s gonna affect you. So, be sure to have people rate and review good ratings, so that
you can get ahead of the curve, because there probably gonna move full force with this. And the last bit of news is Twitter, they’re
going to start promoting tweets to logged out users. So, Twitter, on Thursday, revealed
it’s testing the expansion of promoted tweets aimed at logged out users. So, what that means
is before, if you were to be logged into Twitter, you’d see promoted tweets, but now, if you’re
not logged in, if you just hop over to twitter and like, maybe click on someone’s page,
like, “Okay, I want to see what Rihanna’s tweeting about,” I don’t even know if
she has a Twitter account right now, but I want to see what Kanye West is tweeting about,
I’m not logged in, and you go to Twitter, from Google, and you couldn’t see its ads,
now you’re going to see ads. So, yeah, that’s what they’re planning on doing. The company
has been searching for ways to monetize the patronage of the roughly 500 million logged
out users per month, who hop off Google for a moment to read over a tweet or two. Just
like the example I just gave you. And the glue is more tweets, more content, therefore
there’s more space to advertise. So, this is really great news for advertisers. It’s
a better way to reach your audience, or there’s better ways to reach your audience and – but
the bad news is that it’ll probably. Well, I – it’ll probably be less targeted, I should
say for advertisers, because people aren’t logged in, so, if these people aren’t logged
in, these people may not be logged in at all. They may not be logged in for a really long
time. So, Twitter doesn’t really know too much information about them because they’re
not even really tweeting. So, it’s gonna be a lot of spammy ads, to be honest with
you. So, I just want you to be mindful of that. I wanted you to be aware of that. They’re
gonna do it and the good thing – the other good thing, this is gonna be a lot more money
for Twitter because they’re just really just taking advantage of all the real estate
on their site. Logged out page, logged in page, everywhere. We want your money and that’s
good for them, as a business. That’s how you should run your business – make sure you
make your money, in an honest way, of course. So, that concludes episode number 13. If you
want that download, that I strongly urge you to get: new business owners, existing business
owners, whatever, maybe something that you overlooked as an existing business owner.
Be sure to download it at Lidyr.com/starterkit. Lidyer.com/starterkit, and if you have any
questions for me, email me us at [email protected] and be sure to subscribe, rate, and review
us on iTunes and subscribe to our page on Youtube, and be sure to follow us on Instagram
and Twitter, @LidyrCreative and Happy Entrepeunering, and I really enjoyed being with you guys today,
and I’ll see you next week.

6 Comments

  • Double R Imports

    I think this video is going to help me a lot. My partner and I came up with a temporary name, Double R Imports, a combination of our first names. However we both thought we would need to change it in the future. I'm going to use these tips to see if we can come up with something better. Thanks for the help.

  • Joyofsikhi

    Hi Mate, Thanks for explaining things in such a non techi jargon. It makes sense and I appreciate it a ton. Subscribe and Shared :). I would love to hear your thoughts on my domain name dilemma. I have recently started a Leadership and development program for kids age 5 to 13. My company provides this leadership program through the medium of fine arts. I named the company Trans-fo-minds (short for transform minds). Although I am in love with this name, I do feel that it is not easy to remember (debatable) would you recommend sticking with domain name transfominds.com or T4MG.com (G for globle). I feel that t4mg will be more easy to remember for parents. Please advice

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